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Thread: Uranium mines in Namibia

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    Oneword's Avatar
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    Default Uranium mines in Namibia

    African bloggers have voiced their disapproval over the renewal of the Forsys Metals Corp. uranium exploration licences approved by the Ministry of Mines and Energy of Namibia. But not all bloggers seem to brand the decision to expand Namibia’s uranium mining as suicidal.

    Uranium mining in Africa

    Uranium mining extracts low concentrations of uranium ore from the ground and is commonly used to fuel nuclear power plants. South Africa, Namibia and Niger (Africa’s leading uranium-producing nation) are some of Africa’s larger mining sites that produce uranium.

    “Namibia’s economy is expected to grow at 4.7 percent, as opposed to the growth rate of 3.7 percent last year”

    Prospects of uranium mining

    Nambia’s mining industry is amongst the world’s elitist mine producers as it grosses up to 50% of Namibia’s export earnings and plays an important role in employment. Catherine Windhoek said: “Namibia’s economy is expected to grow at 4.7 percent, as opposed to the growth rate of 3.7 percent last year”.

    Economy more important than the environment

    A frustrated blogger commented: “The environment legislation in Namibia (Southern Africa) is weak. As such it is prey to foreign companies obtaining prospecting licences and ultimately mining in extremely environmentally sensitive areas, such as Namib desert”.

    Another stated: “The Namibian deserts are totally unique, lots of endangered species depend on them”.

    Continuous exploitation

    Currently there are a number of uranium mining projects in Namibia by various companies (Extract Resources Ltd and Kalahari Minerals Plc) and similar projects, which African bloggers feel are adding to the cause of pollution in vulnerable areas of Namibia.

    “Its time the rest of the world took notice of what’s happening here”

    Bloggers' view on the world’s role

    Bloggers however seem to be in two minds on the issue as to what role the rest of the world should play as one blogger said: “Its time the world took notice of what’s happening here and put a stop to economic exploitation of an unspoilt part of Africa”.

    An opposing blogger suggested that: “We can not continue to ask for worldwide support and money for any one issue, nature is a huge playing field, if we ourselves are the ground-keepers we must keep it as pristine and undamaged as we can”.

    Sources: Uranium mining conference, Mining weekly, Namibia’s online community, SADC Review

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    Pietro's Avatar
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    Default Re: Disapproval over Uranium mines in Namibia

    Tree-huggers, bunny-huggers and similar fringe lunatics will oppose anything!

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    Default Re: Disapproval over Uranium mines in Namibia

    Pietro ..... you forgot to say "as long as they can find some obscure NGO to sponsor it".

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    phelakuti is offline Senior Member
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    Default Re: Disapproval over Uranium mines in Namibia

    Perhaps the reason for the disapproval could be based on insignicance of economic statistics vis-a-vis benefits to the country. Now 4.7% as opposed to 3.7% a whopping 1% jump without much significance. No nuclear plant in a country that is so rich in the very product and no quid pro quo for the exportation. Others are equally rich in much different products that they never share in any form.

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    Default Uranium mining in Namibia

    Who is going to own whom or what?

    The question of which company will get to control the Rossing South uranium discovery in Namibia is starting to get even more complicated. At present, Niger Uranium (AIM: URU) has a 13 per cent holding in Kalahari Minerals (AIM: KAH), which in turn holds a 40 per cent holding in Extract Resources.

    Extract holds the rights to the Rossing South Deposit. Niger Uranium attempted to distribute its holding in Kalahari to its shareholders late last year but was unable to gain the necessary shareholder approval. And now NWT Uranium, which has a 35 per cent interest in Niger Uranium, has called for an EGM which will seek to remove Niger's chairman and install its own man. It’s also calling for Niger to call for an EGM for Kalahari, with the intention of requesting that Kalahari distributes its holding in Extract to its shareholders.

    Presumably the immediate plan is to eliminate the present holding company structure, though the ultimate objective must be to attempt to take control of the project. In parallel with all this, Kalahari is in the process of taking over Coronet Resources. Coronet's principal asset is a 7.6 per cent shareholding in Kalahari. Given that Rio Tinto and Stephen Dattels' Polo Resources (AIM: PRL) are also involved, what the outcome of all the various schemes and machinations will be is far from certain. Niger ended the week almost flat at 35p whereas Kalahari lost 6.8 per cent to finish at 177p.
    Last edited by Mie1; 25th January 2010 at 10:30 AM. Reason: correction of title

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