Uranium mine to open next year

ASX-listed A-Cap Resources on Friday announced the submission of a mining licence application for its flagship Letlhakane uranium project, to the Botswana Department of Mines.

This followed the company’s May submission of the environmental and social impact assessment to the Botswana Department of Environmental Affairs.

“This is an important milestone for A-Cap and the Letlhakane uranium project. The technical studies, to date, have shown that this project can be competitive with forecast uranium prices,” CEO Paul Thomson said.

The technical study of the $351-million project highlighted its potential economic viability of the project amid a rising uranium price.

The operating expenditure for the first five years of operation was expected to average at around $35/lb per pound of uranium oxide (U3O8), while the process plant was targeted to production of up to 3.75-million pounds U3O8 over the same period.

“Further work that will seek to further improve the project, in both the project economics and the technical understanding is ongoing,” Thomson said.

Editor's Comment
Escalating fuel prices cause panic

Nowadays it is not uncommon to purchase an item for a certain commodity and return to the shops in a week, to find the same item has gone up by a significant amount of money.Botswana Energy Regulatory Authority (BERA) last week announced yet another fuel price increase, which follows yet another increase that came into effect on March 29. Hardly two months later on May 12 boom, BERA announced yet another increase, which came into effect at a...

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