Mining right application for Northern Cape uranium project accepted for evaluation
London-listed Neo Energy Metals says the mining right application by its South African subsidiary Desert Star Uranium for the Henkries uranium project, or Henkries Node, in the Northern Cape, has been accepted by South Africa’s Department of Mineral and Petroleum Resources for processing and evaluation.
In a statement to shareholders, Neo explains that the application is in respect of antimony, cobalt, copper, kieselguhr, lead, molybdenum, nickel, tin, uranium and zinc, consistent with the known polymetallic character of Henkries. Uranium is, however, the primary target mineral.
In terms of the Mineral and Petroleum Resources Development Act, Mineral and Petroleum Resources Minister Gwede Mantashe, or his delegate, is required to make a decision within 300 days from the date of acceptance of a mining right application.
The company explains that acceptance of the application does not of itself confer the right to begin mining activities, adding that it will provide a further update upon grant of the mining right.
As a condition of the acceptance, Neo explains that Desert Star is required, within 60 days, to submit documentation confirming its black economic empowerment (BEE) shareholding structure, in compliance with the minimum 30% BEE shareholding requirement applicable to new mining rights under the Act.
Desert Star is also required to lodge a notice of intent to apply for a water-use licence with the Department of Water and Sanitation.
The company confirms that both requirements are in hand.
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