The Department of Mineral Resources has renewed Aim-listed URU Metals' prospecting right over the Zebediela nickel project, in Limpopo.
The right will expire on December 2, 2021.
A 2012 preliminary economic assessment of the project estimates the project's capital expenditure to reach $708-million. The project is expected to produce 20 000 t/y of nickel over a 25-year life and deliver a net present value of $317-million.
URU also owns the Närke oil/uranium project in Sweden.