NGX, a leading African explorer and developer, has entered into earn-in joint venture agreements to acquire two uranium exploration project applications in Namibia in a bid to complement its existing graphite assets in Malawi
The two sites are located within the Damara uranium belt of the country, recognised for being one of the world’s best known uranium districts in the world with a number of uranium projects in operation. The two applications include Rossingburg, located in the main uranium production hub of the belt between the Rossing uranium mine and Etango uranium project, and Tubusis, northeast of Swakopmund in an under-explored region of the belt.
“While NGX has been progressing permitting and processing testwork on our flagship graphite projects in Malawi, we have also been looking for opportunities to expand our clean energy minerals portfolio in Africa, to meet the world’s growing need for carbon free energy,” remarked Matt Syme, NGX executive director. “Our management group includes considerable and very successful experience in uranium exploration, so this is a natural addition to our portfolio. We are very optimistic about the outlook for the uranium market and Namibia remains the premier uranium exploration environment in Africa.”
Namibia’s fertile mining environment has found plenty of suitors this year as a number of companies look to take advantage of the business opportunities it offers. Click here to read how B2Gold has been expanding its efforts at the Otjikoto mine in the country.
NGX explores uranium opportunities in Namibia
The completion of the acquisitions remains subject to NGX completing due diligence in relation to the EPLs. (Image source: Adobe Stock)
