https://www.miningweekly.com
Construction|Flow|Mining|PROJECT|Projects|Flow
Construction|Flow|Mining|PROJECT|Projects|Flow
construction|flow-company|mining|project|projects|flow-industry-term

Forsys launches strategic review of Namibia uranium project

16th November 2021

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Toronto- and New York-listed Forsys Metals has appointed advisers Bacchus Capital to conduct a strategic review of its Norasa uranium project, in Namibia, given the “misalignment of flat or declining supply, versus growing demand”.

“The Norasa uranium project is one of the few post-DFS [definitive feasibility study], construction ready, uranium projects with a mining licence, which positions this asset as one of the only projects in the world able to potentially benefit from the near to mid-term expected supply shortages,” CEO Mark Frewin said on Monday.

The strategic review will consider, evaluate and compare a broad selection of potential options for the purpose of identifying opportunities to maximise the value of Norasa for the company’s shareholders.

Situated 25 km from Rio Tinto’s historically significant Rössing uranium mine, the Norasa project has mineral reserves of 90.7-million pounds of uranium oxide (U3O8). The completed DFS confirmed Norasa’s robust economics, with a 32% internal rate of return, a pre-tax net present value of $663-million, and $1.175-billion operating cash flow.

The Norasa plant throughput is expected to be 11.2-million tons a year, producing an average of 5.2-million pounds a year of U3O8.

Namibia, the fifth largest uranium producing country globally, is a mining-friendly jurisdiction with strong government support for the Norasa project.

Edited by Creamer Media Reporter

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.105 0.148s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: