Botswana’s first uranium mine got an environmental nod after the government approved its environmental impact assessment (EIA). The open pit mine is projected to run for 18 years.
In a statement, Australian company A-Cap Resources (ASX:ACB) confirmed that since 2009, they have been conducting studies to determine the overall environmental and social impacts the mine might have in Botswana.
“We have been conducting extensive work over the years, commencing 2009, in studying and identifying the overall environmental and social impacts associated with developing the first uranium mine in Botswana,” said A-Cap CEO Paul Thomson.
Thomson also added that the board ensured highest standards were adopted in preparing the Environment Impact Statement.
The ASX-listed junior, valued at $17.6 million is planning to develop the Letlhakane uranium mine which will produce 3.75 million pounds annually. It is “one of the world’s largest undeveloped uranium deposits” with a JORC-compliant resource of 365.7 million pounds U3O8, with a high-grade resource of 103.8Mt at 450 parts per million (ppm).
A-Cap Letlhakane also confirmed that they completed over 149,000 metres of reverse circulation and diamond drilling over the area, indicating shallow mineralisation resulting in a low capex operation.
In other news, another Australian firm, Impact Minerals (ASX:IPT), is also exploring some prospective deposits in eastern Botswana. Botswana is estimated to hold around 1.04 billion tonnes in uranium reserves, mostly in its central area.