Valencia uranium project, Namibia
Name and location
Valencia uranium project, Namibia.
Project description
The proposed project will involve the construction of an openpit mining operation at the Valencia deposit.
The Valencia deposit is located 35 km along strike to the producing Rössing uranium mine and 40 km north of the Langer Heinrich uranium mine.
The pit will be about 1 400 m long, 700 m wide and 360 m deep.
The life-of-mine schedule indicates a processing rate of 1,08-million tons of ore a month over a ten-year period.
The total measured and indicated mineral resource estimated for the project is 164,2-million tons at 0,11kg/t of U3O8, which equates to 41-million pounds of U3O8. The total inferred resource estimated is 92,4-million tons at a grade of 0,10 kg/t of U3O8.
Value
The project will require start-up capital of $188-million.
Duration
Production at the mine is expected to start in 2010.
Breakdown of main contracts
Not stated.
Client
Forsys Metals.
Latest developments
Forsys Metals has received approval and clearance from Namibia's Ministry of Environment and Tourism for both the environmental-impact assessment and environmental-management plan for the project.
Participants
Snowden Mining Industry Consultants (prefeasibility study).
Construction materials
Not stated.
On budget and on time?
Not stated.
Contact details for project information
Forsys Metals, tel +264 61 219 462, fax +264 61 219 267 or email vul@forsysmetals.com.
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