Namibian uranium mining is booming
Analysts at IJG Securities say that the Namibian Uranium mining industry is booming, with 65 mining licenses still awaiting approval.
In a research note published this morning, the analysts mention that the Namibian Ministry of Mines and Energy stopped issuing licenses after October 2006. Only 15 prospecting licenses have been approved for a duration of one year each, with options to raise that to three years, the analysts say. Namibia has two operational uranium mines, namely Rossing Uranium, which has been operational for 30 years and on which N$754 million will be spent to extend its lifespan till 2022, and Langer Heinrich Uranium, which is expected to stay operational till 2021, IJG Securities adds.
Information from: www.newratings.com
