Marenica challenges mining conventions

The use of the technology could come at an opportune time as the spot level of uranium on the commodities market is very low.

14 November 2017 | Business

Ogone Tlhage - The results of a study on the use of uranium processing technology are expected to be released in December by its promoters, Marenica.

The prospective miner is currently testing its technology, which it says has the potential to reduce the cost associated with uranium mining.

The use of the technology could come at an opportune time as the spot level of uranium on the commodities market is very low owing to reduced demand for the resource, particularly in Japan.

The technology is currently on trial using Namibian ore from the Langer Heinrich mine, as well as ores from Deep Yellow and Marenica itself.

Both Marenica and Deep Yellow hold local mining concessions.

Marenica managing director Murray Hill said the results would be released before the end of the year.

He remained tight-lipped about the provisional test results but said Marenica was still engaging actively with potential buyers of its processing technology.

Upbeat

“We are speaking to a number of resource owners about the application of the groundbreaking U-pgrade process technology to their resources. We have a technology licence agreement in place with Deep Yellow Limited on the Tumas deposit,” said Hill.

The Langer Heinrich mine was equally upbeat about the use of U-pgrade processing technology to process its low-grade ore stockpiles.

“It is not unlikely that the [technology] could be used to upgrade all of LHU’s low-grade ore stockpiles,” mine spokesperson Bernadette Bock said in her brief discussion with Market Watch.

In 2012 Marenica embarked on a research and development programme to develop a uranium concentration process that was unique and groundbreaking and lowered the extraction cost of uranium at the Marenica uranium project.

Since that time Marenica has undertaken considerable test work and analysis of its ore to refine the process. This initial test work cost over US$3 million, and included successful tests on three tonnes of ore from the Marenica Project.

Similar News

 

Debmarine plans world’s biggest offshore diamond mining vessel

1 day - 23 November 2017 | Business

Anglo American's diamond unit De Beers has ordered a new US$142 million diamond mining ship as part of its strategy to grow its offshore operations,...

NMP blasts critics over seabed mining

1 day - 23 November 2017 | Business

Amidst an ongoing legal battle regarding the controversial mining of marine phosphate in the country, Namibian Marine Phosphate (NMP) says the development of the industry...

Company news in brief

1 day - 23 November 2017 | Business

Total’s investment in Iran in jeopardy France's Total will lose all of its investment of US$66 million if it pulls out of a deal with...

Company news in brief

2 days ago - 22 November 2017 | Business

Netcare to restructure UK businessSouth African private healthcare operator Netcare will restructure its operations in Britain after the group reported a drop in annual profit...

Company news in brief

3 days ago - 21 November 2017 | Business

Pioneer Food FY profit halves following droughtSouth Africa's Pioneer Food Group reported a 49% drop in full-year profit due to high maize prices during the...

Joe’s boosts dividend for Stimulus

4 days ago - 20 November 2017 | Business

Staff reporter - The board of directors of Stimulus Investments Limited has approved an interim dividend payment of N$25.8 million to all its preference share...

Nimbus targets big stake in Paratus Telecom

4 days ago - 20 November 2017 | Business

Jo-Maré Duddy – Nimbus Infrastructure Ltd, which debuted on the local index of the Namibian Stock Exchange (NSX) as the country’s first capital pool company...

DBN rewards innovative businesses

4 days ago - 20 November 2017 | Business

The Development Bank of Namibia (DBN) last week held its Good Business and Innovation Awards in Windhoek. The awards recognised business excellence that contributes to...

Increases in construction sector still to be gazetted

4 days ago - 20 November 2017 | Business

The Construction Industries Federation of Namibia (CIF) and the Metal and Allied Namibian Workers Union (Manwu) have signed a collective agreement which includes the future...

Company news in brief

4 days ago - 20 November 2017 | Business

Benin expels local MTN boss amid fees rowBenin's government expelled the head of South African telecoms giant MTN Group's local unit amid a dispute over...

Latest News

Kasuto, MUN lose again in...

6 hours ago | Justice

An urgent court application seeking to stop the National Union of Namibian Workers (NUNW) delegates from taking part in the ongoing Swapo congress was struck...

Brave Warriors move up FIFA...

10 hours ago | Sports

The Namibian national senior football team moved up 10 places on the latest Federation of Football Associations (FIFA) world rankings.Namibia moved from 129 to 119th...

Swapo congress kicks off

10 hours ago | Politics

The much-anticipated elective congress of the ruling party has started in Windhoek with over 760 delegates as well as invited guests attending this morning’s opening...

Alweendo seeks US help to...

1 day - 23 November 2017 | Economics

Tom Alweendo, the minister of economic planning and director-general of the National Planning Commission (NPC), has asked the United States of America to help stem...

Debmarine plans world’s biggest offshore...

1 day - 23 November 2017 | Business

Anglo American's diamond unit De Beers has ordered a new US$142 million diamond mining ship as part of its strategy to grow its offshore operations,...

Population grows by 200 000...

1 day - 23 November 2017 | Economics

The estimated population of Namibia grew from 2 113 077 in 2011 to 2 324 388 in 2016, which represents a 10%, according to the...

Hope and scepticism among Zim...

1 day - 23 November 2017 | International

When the sun rose over Zimbabwe yesterday morning, a 37-year-old reality was changed forever with the resignation of Robert Mugabe on Tuesday evening. He resigned...

Boy 7, raped by girl,...

1 day - 23 November 2017 | Crime

A seven-year-old boy was raped at a house in Block E, Rehoboth, on 15 November. In their daily crime bulletin, the police say the boy...

ACC wants more teeth

1 day - 23 November 2017 | Justice

The Anti-Corruption Commission (ACC) is appealing to the government to make adequate financial and human resources available to it to meet huge expectations from the...

Load More