Reserve estimates for the Husab uranium project in Namibia have risen 37% in proven and probable reserves to 280 million tonnes of Uranium.
Kalahari Minerals, who hold a 43% stake in Extract Resources, owners of the Husab project which is potentially the second-largest uranium mine in the world has published positive results.
Kalahari’s Executive Chairman, Mark Hohnen, said, “With this 37% and 42% respective increase in reserve and contained uranium, the scale and economics of the Husab Uranium Project continue to underpin the fantastic potential for the development of the world’s largest and most significant long life uranium mines.
“The board of Kalahari see that Husab represents the most significant new uranium mine coming into production and remains extremely important to global uranium supply. China, France and Saudi Arabia have recently reiterated their nuclear policies, emphasising that uranium remains a vital commodity of crucial importance particularly in light of increasing long-term global energy demand.”