Uranium oneHigh hopes for Tanzanian mine

Uranium One’s Tanzanian unit hoped to start building its Mkuju River uranium mine next year and propel the country into the world’s top 10 uranium producers, it said. Mantra Tanzania managing director Asa Mwaipopo said yesterday the Mkuju River project in southern Tanzania had an updated resource of 119.4 million pounds (54 159 tons) of uranium. “It will take a two-year period for completing construction work before we start to produce uranium oxide. Tanzania will become number three in Africa in uranium production after Niger and Namibia,” Mwaipopo said. “We think we can be the first uranium mine in Tanzania and position Tanzania into the top 10 uranium producing countries globally.” The project is awaiting an environmental impact assessment certificate and final approval. Uranium One shares rose 0.53 percent to R19.10 on the JSE. – Reuters