Namibia Approves Infrastructure For Bannerman’s Etango Uranium Project

Published on Thursday July 28 2011

PERTH ASX- and TSX-listed Bannerman Resources has received environmental clearance from the Namibian Ministry of Environment and Tourism for the linear infrastructure for its Etango uranium project.

The environmental clearances gave approval for a linear infrastructure corridor from the existing nearby public road to the project site, and included road, rail, power lines, telecommunications and a water pipeline.

“The grant of the environmental clearance for the linear infrastructure associated with the Etango uranium project, following an extensive documentation and public consultation programme, demonstrates the ongoing support of the Namibian government for the project,” said CEO Len Jubber.

Bannerman, which China’s Hanlong Mining Investments wants to buy, received the environmental clearance for the development of the Etango project last year, based on the configuration set in the 2009 environmental- and social-impact assessment (ESIA).

An updated ESIA and accompanying environmental and social management plan, incorporating the now expanded resource area and site layout refinements, would be lodged for public comment during the next quarter, following which it would be submitted to the Namibian Ministry of Environment and Tourism for approval.

Jubber said that upon the receipt of an updated environmental clearance for the development of the Etango project, Bannerman would lodge supplementary information with the Ministry of Mines and Energy in further support of the existing Etango mining licence application.

The Etango project currently has a measured resource of around 62.7-million tons, grading 205 ppm for 28.3-million pounds of uranium oxide, an indicated resource of 120.4-million pounds, and an inferred resource of 63.9-million pounds.

On Monday, Extract Resources also announced that Namibia had granted it environmental approval for the linear infrastructure to service its Husab uranium mine.

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Jorc Resource Up Black Range Minerals 51% Upgrade to 90.9 Million Pounds Of Uranium At Hansen/Taylor Ranch Uranium Project

Published on Wednesday July 20 2011

Black Range Minerals Limited (ASX:BLR) is very pleased to advise that it has completed a calculation of the resource for the combined Hansen/Taylor Ranch Uranium Project in Colorado, USA.

This resource calculation follows the execution, earlier this year, of agreements that provide the Company the exclusive right to acquire 100% of the Hansen Uranium Deposit, which was discovered in 1977 and fully permitted for mining in 1981, prior to the collapse of the global uranium market.

More than 1,000 holes were drilled and three feasibility studies completed to evaluate the Hansen Deposit previously. Information from these holes has been used to calculate a JORC Code compliant resource estimate for the areas covered by recent agreements. 

This resource estimate has been integrated with previously calculated JORC compliant resources from the series of deposits on the immediately adjacent Taylor Ranch Uranium Project, in which the Company also holds a 100% interest in the mineral rights.

When applying a 0.025% cut-off grade, the JORC Code compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project comprises:

68.9 Mt at 0.060% U3O8 for 90.9 million pounds of U3O8

This represents a 51% increase in the number of pounds of U3O8 previously reported for the Taylor Ranch Uranium Project.

44% of this resource is classified "Indicated", as summarised in Table 2 below (see link at the bottom of the release).

When applying a 0.075% cut-off grade, the JORC Code compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project comprises:

16.6 Mt at 0.120% U3O8 for 43.8 million pounds of U3O8

This represents a 58% increase in the number of pounds of U3O8 previously reported for the Taylor Ranch Uranium Project. It illustrates that there is a very robust resource at the Hansen/Taylor Ranch Uranium Project.

46% of this resource, at a 0.075% cut-off grade, is classified "Indicated", as summarised in Table 3 below (see link at the bottom of the release).

These statistics confirm that the combined Hansen/Taylor Ranch Uranium Project is one of the largest uranium projects within the USA - which is the largest consumer of uranium in the world.

With domestic mines within the USA producing less than 10% of the uranium consumed in the country on an annual basis, the development of such a large and strategic asset should be regarded highly.

Black Range continues to advance the Hansen/Taylor Ranch Uranium Project feasibility and environmental studies as quickly as possible.

The Company is currently undertaking a 10-12 hole (approximately 3,000 metre) drilling program at the Hansen Uranium Deposit to acquire additional geological, geotechnical, metallurgical and hydrological data required to update the historic feasibility studies.

The Company is simultaneously acquiring base line environmental data in order to streamline the mine permitting process.

For the complete Black Range Minerals announcement including tables and figures, please refer to the following link:

http://www.asx.com.au/asxpdf/20110720/pdf/41zvrkrh8vxcln.pdf

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7th Annual Australian Uranium Conference 20-21 July 2011

Published on Wednesday July 20 2011

The 7th Annual Uranium Conference

The Australian Uranium industry has consolidated in the past year and is looking forward to better times, with a surge in prices over the past few months.

With political pressure brought on to sell to new markets this year, along with the upcoming proposals to mine Uranium in Western Australia, this year could mark a cornerstone for the industry.

The 7th Australian Uranium Conference will again feature industry updates, company presentations, government information talks, and technical presentations. This makes the event the original and all encompassing venue for anyone wishing to keep themselves informed on the uranium industry and the issues associated with it.

The conference has proven itself to be the most influential and largest uranium event in Australia and the 7th Australian Uranium Conference will once again not disappoint.

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Toro Energy Takes Stake In Nowthanna Uranium Project

Published on Tuesday July 19 2011

Toro Energy has increased its mid-west Western Australian uranium resource base by 25 per cent, with the acquisition of a large stake in another resource project.

The company has bought a 70 per cent stake in the Nowthanna uranium project, which lies 150 kilometres west of its Wiluna uranium mine.

It plans to start production at the Wiluna project by late 2013.

Toro's Managing Director, Greg Hall, says the purchase reinforces the company's position as a major player in the region.

"We think it's a good acquisition in difficult market times," he said.

"We certainly believe that by picking up these regional plays we are enhancing the potential value to our shareholders going forward, these sort of regional plays do take a lot more work but certainly it's giving us a much larger footprint."

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Strike Halts Production At Rossing Uranium Mine

Published on Friday July 15 2011

15 July 2011 - A strike at mining giant Rio Tinto's Rossing uranium mine in Namibia ‒ the third largest uranium mine in the world ‒ has brought production of the energy metal there to a complete standstill.

“Production came to a halt yesterday morning, but we have not yet made an assessment of the losses,” Rossing corporate affairs manager Jerome Mutumba confirmed here. Union officials could not be reached immediately for comment.

Some 500 to 600 workers went on strike, demanding a bonus payment and distribution of the pension fund surplus to employees, according to a letter sent by Rio Tinto to union officials and union papers seen by Reuters.

Rio Tinto said in the letter it considered the strike illegal and could lodge an action for damages against those responsible for the "substantial losses".

Rossing ‒ a large, low-grade open pit uranium mine ‒ is the world's third largest producer of uranium oxide globally. According to Rio Tinto, the mine accounts for around 3.85% of Namibia's gross domestic product.

It is 68.6% owned by Rio, with the remaining stake owned by Iran, South Africa's Industrial Development Corporation and the Namibian government. At the end of 2010, Rossing had 1,592 permanent employees.

Rio Tinto spokespeople in London could not be reached immediately for comment.

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Australian Uranium Developer Bannerman Gets A$143 Million Takeover Proposal From Hanlong

Published on Monday July 11 2011

China's Sichuan Hanlong Group has made a A$144 million ($154.9 million) "highly conditional" bid for Australia's Bannerman Resources Ltd , eyeing the group's uranium project in Namibia near key mines.

The bid at A$0.612 a share represents a 59 percent premium to Bannerman's Friday close, but Bannerman said privately owned Sichuan Hanlong was trying to take advantage of recent share price weakness in the wake of Japan's Fukushima nuclear crisis.

"The board of Bannerman believes that Hanlong recognises the strategic significance of controlling Bannerman's large-scale and low technical risk Etango Uranium Project in Namibia," the company said.

It has been trying to find a joint venture partner to help finance, develop and operate its 80 percent-owned Etango project, southwest of Rio Tinto's Rossing uranium mine and west of Paladin Energy's Langer-Heinrich mine.

Bannerman, being advised by Macquarie Capital and Cutfield Freeman & Co, said it will continue to talk with Hanlong though it will not grant it exclusivity, and will also continue discussions with others for a joint venture.

Hanlong's bid comes two months after state-owned China Guangdong Nuclear Power (CGNPC) was forced to withdraw an offer for UK-listed Kalahari Minerals after UK regulators blocked it from cutting its bid after the Fukushima disaster.

Kalahari's key asset is a 43 percent stake in Extract Resources , which owns the Husab uranium project in Namibia, potentially the second-largest uranium mine in the world.

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Lynas Corporation And Siemens In Rare-Earth Magnet Venture

Published on Friday July 08 2011

Lynas Corp will team up with Siemens in a joint venture that will help the German technology giant secure a long-term source of supply-constrained rare earth elements, coveted for their use in hybrid car engines, smartphones, iPads and other modern technologies.

The two companies have signed a letter of intent to form a joint venture, of which Siemens will own 55 per cent, that will specialise in the production of high-powered rare earth magnets used in energy-efficient engines and wind turbines.

‘‘This planned joint venture would be an important strategic pillar for us to pursue a long-term and stable supply with high performance magnets,’’ Ralf-Michael Franke, chief executive of Siemens’ drive technologies division, said.

The chief executive of Lynas, Nicholas Curtis, said the deal was part of its strategic objective to become integrated into the supply chains of its end customers.

‘‘It’s strategically, in my opinion, very significant in that it sets a direction to say that we are using our first-mover position to establish strategic alliances,’’ Mr Curtis said.

Mr Curtis said Siemens – and major Japanese investor Sojitz – were satisfied with the environmental credentials of Lynas, despite a large amount of negative publicity generated from its plans to build the world’s largest rare earth refinery in Malaysia.

‘‘[Siemens have] reviewed it fully, they understand and are comfortable with the reality of our operations, as are the Japanese,’’ Mr Curtis said.

‘‘You can’t go into the windfarm business based on an unsustainable environmental platform. It’s absolutely critical for them for this platform to be green.’’

Siemens employs 36,000 staff in its drive technologies division, which generated 7 billion euro ($9.34 billion) in sales and is a heavy innovator in energy efficient technologies.

China dominates 97 per cent of the world's rare earth production and has imposed export quotas in recent months, sparking a global rush to find alternative sources for the valuable elements.

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