Botswana First Uranium Mine Targets 3.75 Million Pounds Output over First 5 Years

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Date posted: 09/15/15

Reuters reports that Australian firm A-Cap Resources has applied for a licence to open what would be the first uranium mine in Botswana, with a capital expenditure of $351 million. Botswana is estimated to hold around 1.04 billion tonnes in uranium reserves, in the central part of the country, and the government has issued prospecting licenses in the last decade but no production has taken place to date. The exploration firm said results of preliminary technical studies showed the project would produce up to 3.75 million pounds of the ore in the first five years of its projected 18-year life. The project is ideally located near roads, a railway network and power supply, the company said a statement, and is one of the largest uranium deposits in Africa, with estimated deposits of 261 million pounds.