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Albidon confirms uranium presence at Njame project

Albidon confirms uranium presence at Njame project
By Kabanda Chulu
Thursday March 13, 2008 [03:00]

ALBIDON Mining Zambia has confirmed the presence of high-grade uranium mineralisation at its Njame east project near Chirundu. Giving an update on the pre-feasibility studies that would be completed this month end, Albidon Zambia on Monday stated that uranium resources at the Chirundu joint venture with African Energy Resources had increased by 25 per cent to reach 4,120 metric tonnes.

“The pre-feasibility study on the Njame and Gwabe deposits in the Chirundu joint venture is on schedule for completion by the end of March 2008 and an updated resource calculation for the Njame uranium deposit is in progress,” it stated.

Albidon indicated that the first uranium production was expected by the end of 2009.
However, mines minister Dr Kalombo Mwansa warned prospective uranium miners in Zambia that it was illegal to commence production because the government was still developing guidelines.

Mwansa said the government had devised guidelines to regulate the mining of uranium in the country and the guidelines had been sent to the International Atomic Energy Agency (IAEA) for scrutiny and guidance. Following the recent discovery of uranium, there have been concerns that Zambia lacked capacity to control uranium mining in terms of storage, safety, security and transportation.

Albidon Mining has become the third company to discover uranium deposits after Equinox Minerals discovered uranium deposits at its Lumwana copper project in North Western Province and has since embarked on a Bankable Feasibility Study (BFS), whose outcome would decide the way forward.

The other company is Omega Corp Limited, whose uranium exploration operations in the Siavonga area have reached advanced stages, with company managing director Mathew Yates stating that metallurgical discoveries had resulted in new areas of uranium mineralisation at its Kariba Uranium Project (KUP).

Labels: ALBIDON, URANIUM

posted by MrK @ 3:21 AM