BMN 5.26% 4.0¢ bannerman resources limited

mining license

  1. 751 Posts.
    In the Namibian mining license application form (found at http://www.mme.gov.na/mines/forms/application-for-ml-new.pdf) there is an interesting section on PAGE 6 that no doubt our trusty management team have judiciously filled out ...

    Financial resources available to fund the project *
    ...
    ...
    * Documentary proof to be attached


    So what would have been in this section?

    - maybe there was a list of potential interested parties?
    - or maybe BMN already have secured someone that is ready to fund the mine?
    - or maybe they did not fill this section out?

    Are mining licences generally granted to companies before funding of the mine is secured? Would be interested in hearing some comments from those in the industry.

    Areva, govt sign agreement for mining licence for Trekkopje project
    Written by Administrator
    Friday, 27 February 2009 08:50


    The Ministry of Mines and Energy and Areva Resources Namibia have signed an agreement for a mining licence for the Trekkopje uranium project.
    Under the mining agreement issued on Tuesday, 16 February between the Ministry of Mines and Energy and Areva Resources Namibia, the group has been granted their mining licence for the Trekkopje deposit, located 70 km northeast of Swakopmund, Areva said in a statement.
    Erkki Nghimtina, Minister of Mines and Energy, issued the license following the completion of a long process and in full compliance with international industrial, social and environmental standards, the statement said.
    The mining licence is valid for 25 years with an option of renewal thereafter.
    Manager of External Affairs at Areva Namibia, Malcolm Lindsay-Payne said the company was happy to officially get the green light to develop the mining asset.
    We are looking forward to engage in smart partnerships with the Ministry in order to assist with research and development in the Uranium Province, Lindsay-Payne said.
    Our mining industry has enjoyed recognition as being the most rewarding growth path for our economy, as well as the most important source of foreign direct investment. Arevas operation will rank Namibia as one of the worlds principal producers of this commodity, said Nghimtina.
    Trekkopje Mine is expected to become one of the worlds 10 largest uranium mines and will also be one of the top five low-cost open pit uranium operations in the world. Full production is due to begin in 2011 with an anticipated life of mine of 11 years.
    The desalination plant near Wlotzkasbaken, via a 48.3 km pipeline to the site, will supply water for the mining operations.
    Areva is a world-leading energy expert also operating uranium mines in Kazakhstan, Niger, and Canada.

    http://www.economist.com.na/index.php?option=com_content&view=article&id=10914:areva-govt-sign-agreement-for-mining-licence-for-trekkopje-project&catid=533:special-focus&Itemid=55

    AND

    If anyone is interested in reading about financing uranium mines ...

    http://www.nirs.org/mononline/minedureport.pdf
 
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