Equinox Minerals may float uranium prospects - van Niekerk
Equinox Minerals may float uranium prospects - van NiekerkBy Florence Bupe
Wednesday April 04, 2007 [04:00]
EQUINOX Minerals may consider floating a new company to house 21.4 million pounds of uranium prospects under study in North Western Province. Equinox Minerals vice president of investor relations and corporate development Kevin van Niekerk disclosed that a number of banks had already approached the company for funding. “Spinning out a separate uranium company wouldn’t be an issue for us, but funding internally could be easily done as well,” he said.
On March 6 this year, Equinox Minerals said it had raised about US$211 million in equity offering to complete development of the proposed 169,000 metric tonne capacity per year Lumwana copper mine, due for first production in the second quarter of 2008.
Earlier, the company arranged a US$584 million debt facility to carry out feasibility studies at the mine.
Van Niekerk, however, stated that some lending institutions were reluctant to avail funds to sensitive areas such as uranium mining. “There are some lenders in the syndicate that might have discomfort lending outside their parameters,” said Van Niekerk. “Some of their lending criteria restrict them from lending to politically sensitive commodities such as uranium.”
posted by MrK @ 2:44 PM
1 Comments:
How can a South African company, get hold of mining rights of URANIUM, in Zambia??
This is a total sell-out of the natural resources, as well as the sovereignty of Zambia.
I'm not saying Zambia should be The Bomb, but no country should even be given the excuse of invading, to secure uranium from 'terrorists', or any kind of excuse like that.
Especially uranium should be in the hands of the state, along with all other natural resources.
But such is neoliberal lunacy.
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