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Deep Yellow subsidiary secures mining licence for Namibia project

A map of the Tumas project areas

A map of the Tumas project areas

18th December 2023

By: Kenneth Creamer

     

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Namibia's Ministry of Mines and Energy has issued Reptile Uranium – a subsidiary of ASX-listed Deep Yellow – with a mining licence for the Tumas project.

“We are delighted to have received the mining licence for our Tumas project. This represents another key accomplishment in the progress to develop this significant uranium asset and our overall objective of building Deep Yellow into a reliable, geographically diverse and long-term uranium producer.

“This ensures Deep Yellow can move forward on its stated development schedule, make a final investment decision in the third quarter of 2024 and establish economic benefits for both Namibia and the Deep Yellow shareholders," says CEO and MD John Borshoff.

Deep Yellow plans to develop Tumas into an operation with a mine life of more than 30 years and the capacity to produce 3.6-million pounds a year of uranium oxide.

The company’s portfolio of projects includes two advanced projects Tumas and Mulga Rock, in Western Australia, as well as highly prospective exploration projects Alligator River, in Australia's Northern Territory and Omahola, in Namibia.

Edited by Creamer Media Reporter

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