trending Market Intelligence /marketintelligence/en/news-insights/trending/iywmxwoflr47dtwky4p5iq2 content esgSubNav
In This List

Marenica to acquire Metals Australia's Mile 72 uranium project in Namibia

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Marenica to acquire Metals Australia's Mile 72 uranium project in Namibia

Marenica Energy Ltd. said May 10 that it signed a binding deal to acquire the Mile 72 uranium project in Namibia from Metals Australia Ltd. for A$30,000 in cash plus a preferential dividend of 1% of gross production from the project.

The miner said the Mile 72 project, which covers 2,692 hectares in the country's Erongo province, is ideally suited for its proprietary U-pgrade beneficiation process.

Previous exploration trenching on the project indicated uranium mineralization over 12 kilometers long and 2 kilometers wide, Marenica said. A data validation of all available exploration data, including data from exploration that Metals Australia completed from 2007 to 2014, will be conducted in the near term.