Letlhakane uranium mine project deferred

Wednesday, October 04, 2017

Glut: Global resources of uranium are said to be more than adequate to satisfy reactor requirements to well beyond 2035

Promoters of Botswana’s first uranium mine, A-Cap Resources say the Letlhakane project will be delayed for two years largely due to the slow recovery in the price of the commodity on the international markets.

Construction of the mine was expected to start in 2018 after A-Cap Resources was awarded a 22-year mining licence in September 2016.

In a statement, the Botswana Stock Exchange (BSE) listed company said the deferment has been triggered not only by the delayed recovery in uranium prices but also the implementation of a project to improve mineral recovery at Letlhakane.

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