Sign up Australia
Proactive Investors - Run By Investors For Investors

Bannerman Resources applies for Etango mining license, eyes production in 2013

Bannerman Resources applies for Etango mining license, eyes production in 2013

Bannerman Resources Limited (TSX: BAN, ASX: BMN) has lodged a mining license application for its 80% owned Etango project in Namibia to enable to development of what it said was one world’s largest undeveloped uranium deposits.


In conjunction with the mining application lodged with the Namibian Ministry of Mines and Energy, the company also filed an independent environmental and social impact assessment with the Ministry of Environment and Tourism.
Bannerman has recently completed a preliminary feasibility study and decided to immediately proceed to a definitive feasibility study to enable a more detailed analysis to assess cost reduction opportunities, including optimisation of mine design and mining schedule as well as utilisation of larger equipment.


The company is looking to advance the project towards commencement of construction in 2011 and production in 2013, which is when the company anticipates stronger demand for uranium in view of significant nuclear reactor build programmes in China, India and various other Asian and European countries.


The mineral resource estimate for the project has recently been upped with the measured & indicated resources increasing from 89.2Mlbs (million pounds) to 107.7Mlbs U3O8 (triuranium octoxide) at an average grade of 208ppm U3O8, while the inferred resources rose from 37.4Mlbs to 52.4Mlbs U3O8 at an average grade of 197ppm U3O8.

View full BMN profile

Bannerman Resources Timeline

Newswire
February 06 2017

Related Articles

Berkeley Energia and its Spanish uranium story
March 15 2017
Salamanca, says the group, will be one of the globe's top ten producers and among the lowest cost producers
bannerman-resources_BM-profile-full-sign_medium-757.jpg
October 28 2016
Bannerman CEO Brandon Munro commented: “We are delighted with the strength of the response to our placement offering."
u308_583650538afa0.jpg
November 24 2016
Broker Numis is getting bullish on uranium again following a new marketing initiative from the Kazakh government. Kazatomprom, the Kazakh-state uranium producer, is the largest producer in the world accounting for 39% of global mine production in 2015.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use