By: African mining market

GoviEx Uranium Inc. is pleased to announce that it has further advanced the development of its Muntanga Uranium Project in Zambia with the filing of its draft Environmental and Social Impact Assessment (“ESIA”) with the Zambian Environmental Management Agency (“ZEMA”).

This submission marks a key step in the project’s transition from feasibility towards execution. With the draft ESIA now submitted, ZEMA will undertake a review of the document and provide comments and guidance to GoviEx. This feedback will inform the final ESIA, which GoviEx will then resubmit for final approval, which is expected in the second half of 2025.

The filing of the draft ESIA follows the recently completed Feasibility Study, which confirmed Muntanga as a robust, shallow open-pit, heap leach operation with a projected 12-year mine life, low operating costs, and strong financial returns – including an after-tax NPV8% of USD 243 million and an internal rate of return (IRR) of 20.8%.

Muntanga is strategically positioned to supply both Western and non-Western nuclear markets, benefitting from Zambia’s excellent infrastructure, pro mining government, proximity to export routes, and domestic surplus of sulfuric acid – a key reagent in uranium recovery. With a rapid construction timeline and expected uranium production within four months of mining commencement, Muntanga is one of the few near-term uranium projects capable of helping bridge the global supply gap in a tightening nuclear fuel market. Production is expected to begin in 2028, with discussions currently underway with potential off-takers.