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Extract Resources in Talks with Rio Over Namibian Uranium Deposit

Extract Resources and Rio Tinto are talking about developing the Husab Uranium project owned by Extract Resources in Nambia jointly with Rio’s nearby Rossing Uranium mine. The Australian company said that it would be able to capture potential synergies if this were to happen.

The Husab Uranium project is located near Swakopmund on the west coast of Namibia. It is about 45 km north east of the main port of Namibia, Walvis Bay. It is contained within Alaskite Alley which is the area that has other world class uranium deposits such as Rossing and Langer Heinrich mines.

Based on a preliminary feasibility study of the Husab Uranium Project, Extract Resources hopes to develop a large-scale load-and-haul, open-pit mining operation, with ore from the mine feeding a conventional agitated acid leach process plant, at a rate of 15 million metric tons of ore per year.

There is an anticipated annual production of approximately 15 million pounds of uranium. This would make the Husab Uranium Project the second-largest uranium mine in the world, second only to the McArthur River uranium mine in Canada.

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