https://www.engineeringnews.co.za

Uranium Resources receives mining licence for Tanzania operations

5th July 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Uranium Resources’ major shareholder, Estes, on Wednesday confirmed that it would continue to fund the company’s ongoing working capital requirements while the company reviews alternative financing arrangements. 

To date, Estes has provided unsecured loans totalling $1.8-million, which are now fully drawn down.

Meanwhile, Uranium Resources said the Tanzanian Ministry of Energy and Minerals has granted it a prospecting licence over the Mtonya project area.

The licence is subject to the provisions of the Tanzanian Mining Act of 2010 and is valid for 48 months to be followed by standard renewals.

It was now in discussions with a potential strategic partner for the development of Mtonya; however, it stated that there can be no assurance that these discussions will lead to a successful outcome for the company.

“Given the continued depressed state of the uranium market, the board is also assessing a number of options for the future development of the company,” it highlighted.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.066 1.044s - 140pq - 2rq
Subscribe Now