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Extract Resources

Kalahari Minerals: Extract Resources gets environmental approval for Husab uranium project

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Kalahari Minerals (LON:KAH) welcomed the news that its 41.08 percent owned associate Extract Resources (TSX:EXT, ASX:EXT) has received environmental approval to develop one of the world’s largest uranium mines on the Husab mining licence area.

Husab hosts the Rössing South deposit, which is still being explored by 17 rigs. It is currently the fifth largest uranium deposit in the world.

Overnight Extract told investors on the Australian Securities Exchange that its wholly-owned subsidiary Swakop Uranium has now received environmental approval from Namibia's Ministry of Environment and Tourism. 

The Husab environmental impact assessment (EIA) and management plan (EMP) for the proposed mining licence area were lodged with the Namibian authorities in late November 2010. Shortly after, the mining licence application was lodged December.

“Obtaining this environmental approval from Namibia's Ministry of Environment and Tourism is another major step in the drive towards production and emphasises both Husab's environmental credentials and the support for its development from the Namibian government,” Kalahari chairman Mark Hohnen said.

“We look forward to the publication of the Definitive Feasibility Study and remain fully supportive of Extract's development plans as well as the regional exploration initiatives that continue to open up new zones of uranium mineralisation which are further boosting the global significance of this project."

A separate environment impact assessment (EIA) is currently underway for some of the mine's infrastructure and public consultation is scheduled in April and May.

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