Elevate increases Marenica project ownership to 90%
ASX-listed Elevate Uranium has entered into two separate agreements to acquire an extra 15% of Marenica Minerals, the owner of the Marenica uranium project, in Namibia, lifting its interest to 90% upon completion.
These agreements, expected to complete before the end of the month, will consolidate Elevate’s position in one of its two flagship Erongo province assets ahead of definitive results from the U-pgrade pilot plant programme.
“This is a logical and highly value-accretive step that consolidates our position in the Marenica project,” the company states.
Marenica has seen multiple successes this calendar year, with its Joint Ore Reserves Committee resource essentially doubling in grade and increasing in size by 31% to 52.8-million pounds of triuranium octoxide.
Increasing our ownership means more of that upside and that of the pilot plant results to come will sit directly with our shareholders,” says Elevate MD Murray Hill.
The company originally developed its U-pgrade beneficiation process on uranium mineralisation from the Marenica uranium project, and Marenica ore remains central to the current pilot plant programme, it points out.
Bulk samples excavated from test pits strategically spread throughout the updated resource area, which represent the range of lithologies, uranium grades and gangue minerals, are being tested in the pilot plant during the year.
Marenica’s mineralogy has proven well-suited to the U-pgrade process in bench-scale tests, and the current programme is designed to generate the processing parameters required to advance the project through feasibility studies, Elevate highlights.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
