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WEST AFRICA | NIGER
GOVIEX URANIUM
The uranium sector has
been suffering the effects of
drastically low uranium prices
(~$40/lb) since the 2011
Fukushima nuclear power
plant catastrophe. But the
outlook within the next two or
three years looks brighter as
prices are expected to increase,
which is good news for Niger-
focused uranium junior GoviEx
Uranium, writes LAURA CORNISH.
IN SHORT
Niger will soon welcome a
new uranium producer to the
country as GoviEx Uranium
moves its project through the
permitting process and towards
construction. Historical exploration
drill hole on site
of just $26.39/lb,” says GoviEx Uranium CEO
Daniel Major.
The mine will be a combination of open
pit/underground (room and pillar) mining
operation, ranging in depth from 30 m to
130 m. Underground comprises a 1 m-thick,
G oviEx Uranium (GoviEx)
hopes to start construction of
its USD$340 million Madaouela
uranium mine and plant in
north Niger (located on one of its seven
licences – Madaouela I) sometime between
2016/2017, ideally positioning it to benefit
from predicted higher uranium prices
when production starts.
“Our initial focus (based on current
reserves and resources) aims at mining
4020 tpd (ROM) to produce approximately
2.5 Mlbpa of uranium oxide (U3O8) for
between 18 and 20 years. And we have
focused extensively on ensuring a viable
and robust project with a cash cost forecast
18 MINING REVIEW AFRICA
| JUNE 2015
Areva’s Somair mine, 10 km from Madaouela
flat-lying ore body. “A pancake flat ore body
is easy mining – once you’re in the ore body,
you can mine in 360 O ,” Major notes.
Marianne and Marilyn (M&M), which is
the biggest of the deposits with nearly half
the total resource, stretches 7 km in length