Extract Resources' subsidiary bags mining licence for Namibian project


Extract Resources' subsidiary Swakop Uranium has received a mining licence for the Husab uranium project from Ministry of Mines and Energy of Namibia.

Mining licence area ML171 is located within the Extract's exploration concession EPL3138 and consists of reserves within zone one and two of the project, mineral resources defined within the zones one to five and the Middle Dome and Salem prospects.

Extract resources is planning to maintain its resource definition drilling and exploration programme throughout EPL3138 and within EPL3439.

Extract Resources' CEO and managing director Jonathan Leslie said the firm is evaluating offtake arrangements and opportunities for investment in the project by strategic partners.