Namibia could soon become one of the region's hubs with regard to the mining of nuclear fuel mineral and nuclear fuel processing. Namibia has key and strategic reserves of uranium, an important part in most nuclear fuels, and the country has this year seen a wave of sponsor interest in uranium deals, particularly from Indian and Russian firms. In a current statement, AIM-listed and South African-based firm, North River Resources Plc said that its NRR Energy Minerals Ltd unit had settled to subscribe US$800,000 so that Extract Resources Ltd and NRR Energy will each hold 50 percent in Extract Namibia, which has rights to explore for nuclear fuel minerals.
At the beginning of 2010 NRR had indicate that was working to fast-tracking its asset portfolio, with exacting emphasis on the Dordabis copper and Namib lead zinc projects, which acquired the majority of its assets from Kalahari Minerals in November 2009. Although Kalahari Minerals' core operations were not focused on uranium production, NRR had indicate that they were creation progress, in what were non-core projects under the previous ownership. Said North River administration director David Steinepreis earlier in the year: 'We have been forcefully assessing existing data, whilst also reviewing the best options to advance these projects, which may or may not involve partnership agreements.
We are utilising our strong on-ground presence, and maintain a prepared development plan that is aimed at delivering value to shareholders.' The nuclear fuels development could help to ease the Southern African country's energy shortage, if its authorities are prepared to invest in nuclear energy. NRR has since indicated that it would be targeting other potentially feasible mineral projects in the SADC region, although potential acquisitions must meet severe investment criteria. In Mozambique, North River is assessing data generate from the Mavuzi gold-uranium project. Historic data from a British Geological Survey is believed to detail Rare Earth Element possible in the Mavuzi area. 'North River continues to review gaining opportunity in southern Africa to complement its existing portfolio of gold, base metal and uranium assets,' said NRR.
At the beginning of 2010 NRR had indicate that was working to fast-tracking its asset portfolio, with exacting emphasis on the Dordabis copper and Namib lead zinc projects, which acquired the majority of its assets from Kalahari Minerals in November 2009. Although Kalahari Minerals' core operations were not focused on uranium production, NRR had indicate that they were creation progress, in what were non-core projects under the previous ownership. Said North River administration director David Steinepreis earlier in the year: 'We have been forcefully assessing existing data, whilst also reviewing the best options to advance these projects, which may or may not involve partnership agreements.
We are utilising our strong on-ground presence, and maintain a prepared development plan that is aimed at delivering value to shareholders.' The nuclear fuels development could help to ease the Southern African country's energy shortage, if its authorities are prepared to invest in nuclear energy. NRR has since indicated that it would be targeting other potentially feasible mineral projects in the SADC region, although potential acquisitions must meet severe investment criteria. In Mozambique, North River is assessing data generate from the Mavuzi gold-uranium project. Historic data from a British Geological Survey is believed to detail Rare Earth Element possible in the Mavuzi area. 'North River continues to review gaining opportunity in southern Africa to complement its existing portfolio of gold, base metal and uranium assets,' said NRR.
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