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GoviEx advances Muntanga with ESIA submission in Zambia

GoviEx Uranium Inc. has taken a key step in the development of its Muntanga Uranium Project in Zambia with the submission of the draft Environmental and Social Impact Assessment (ESIA) to the Zambian Environmental Management Agency (ZEMA).

The submission marks a significant milestone in the project’s progression from the feasibility phase toward execution. ZEMA will now undertake a detailed review of the ESIA and provide comments and guidance, which will inform the final version of the document. GoviEx expects to resubmit the final ESIA for approval in the second half of 2025.

This development follows the recently completed feasibility study, which confirmed that the Muntanga Project will be a robust, shallow open-pit heap leach uranium operation with a projected 12-year mine life, low operating costs, and strong financial returns. The project’s economics include an after-tax NPV of 8% of USD 243 million and an internal rate of return (IRR) of 20.8%.

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Daniel Major, CEO of GoviEx, commented: “The momentum behind the Muntanga Project continues to build. With today’s draft ESIA submission, we are taking another significant step toward making Muntanga a reality. This progress demonstrates our dedication to delivering one of the few near-term uranium projects with potential to help meet growing global demand, while also ensuring environmental and social responsibility. We are also making solid progress on the financing front, with strong early-stage interest that reflects confidence in the quality and potential of the Muntanga Project.”

Strategically located, the Muntanga Project is positioned to serve both Western and non-Western nuclear markets, taking advantage of Zambia’s strong infrastructure, a pro-mining government, accessible export routes, and a domestic surplus of sulphuric acid—a crucial component in uranium processing.

With a rapid construction timeline and production expected within four months of mining commencement, Muntanga is among the few near-term uranium projects with the potential to help bridge the global supply gap in an increasingly tight nuclear fuel market. GoviEx anticipates uranium production to begin in 2028, with offtake discussions ongoing.

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Mining Review Africa
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Mining Review Africa

Mining Review Africa is a platform promoting advancement and sustainable development in African mining, providing insights on technology, finance, and industry trends through engagement with mining companies and suppliers.