PRESENTER: Helena Itamba

Ministry of Mines and Energy

URANIUM MINING

PROJECTS

RAF 2011, Workshop on Application of United Nations Framework Classification, JHB, RSA, 10-14 November 2014

BACKGROUND

oSeveral uranium projects delayed due to depressed market conditions following the Fukushima incident;

oLHU mine reported record production following three years of operational los;

oRUL return to profitability due to implementation of several cost reduction exercises;

oAreva Namibia continued care and maintenance;

oConstruction of the Husab mine ongoing despite the adverse market conditions;

oSix licensed uranium mines.

LOCALITIES OF URANIUM MINES

GRADES (PPM)

ValenciaTrekkopje

Husab

EtangoMarenica Rossing Langer Heinrich

Tubas/Tumas/Omahola

Ida Dome0

100

200

300

400

500

600

0 100 200 300 400 500 600 700

Co

nta

ine

d m

eta

l (M

lb

s)

Grade (ppm)

Rossing Uranium Limited

Langer Heinrich Uranium

Trekkopje (Areva)

Valencia Swakop Uranium (Husab)

o Lower throughput lead to lower production volumes;

o Drilling completed on Z20, 142 holes

o Investigating economic methods on how to extract ore from Z20

o Temporary shut down of milling operation during December –January due to leach tank failure.

o July CNNC , overseas Uranium Holding acquired 25% stake;

o Construction and commissioning of stage 3 complete;

o Currently operating in excess of name plate capacity of 5.2 mlb;

o Stage 4: feasibility to increasing production up to 8.7Mlb U3O8 pa expansion to increase production capacity;

o No exploration activities during 2013.

o AREVA has decided to postpone the Trekkopje Project, which is not economically minable at the present time as a result of poor prevailing conditions in the uranium market.

o Care and maintenance phase since July 2013

o 48 employees 3km in length, 810m width, 36M t of uranium ore per year

o Consolidation of two neighbouring projects;

o Completed drilling program

o Metallurgical test results with higher recoveries

o Environmental Clearance for all aspects of mine construction, operation and closure granted

o Results of a positive engineering cost study for the Norasa Uranium processing plant released.

o Measured and Indicated Resource: 103 Mlbs at 197 ppm U3O8

o Proved and Probable Reserve: 79 Mlbs at 202 ppm U3O8

o Estimated Inferred Resource: 50Mt at 198ppm for 22 Mlbs of U3O8

o Pre-stripping has commenced

o The plan is to ensure that a Run-of-Mine (ROM) stockpile will be ready for processing on completion of the processing plant.

o Annual production capacity 15 Mlbs;

o LoM 20 years.

U3O8 ANNUAL PRODUCTION (ST)

0

1000

2000

3000

4000

5000

6000

2005 2006 2007 2008 2009 2010 2011 2012 2013

DRILLING AT VALENCIA EAST

SWAKOP URANIUM

Blasting Production process

ZHONGE RESOURCES oThe Mining Licence was

granted during December

2012;

oreserves of metal U is 40,800 ton, and the average grade

of U3O8 is 185ppm;

oconstruction of the project

was expected in 2015 and the

first product 2018;

oApplied for Mineral Deposit

Retention licence;

oMine construction currently

put on hold.

Advanced

Exploration Projects

BANNERMAN RESOURCES

o Completed Etango DFS and EISA;

o Environmental Approvals Granted

o 6-9 Mlbs U3O8 annual production over a 15 year LoM;

o Plans underway to construct a demonstration plant by 2015 which will be operated for one year.

Stage three crushing

Conventional Sulphuric Acid Heap Leach Plant

Reptile Uranium-

Deep Yellow

o Multiple deposits

o Pit optimisation and mining cost studies

o Comprehensive Metallurgical test work must still be conducted;

o 12 year LoM, 2.2 Mlbs production rate per annum ;

o Conventional acid leach with solvent extraction;

RESOURCES

Tubas Sand

Project

o Mineral

resource totals

24Mt at 170

ppm for 12.7

Mlbs U308 at

100 ppm U3O8

cut off;

Bulk sample trench

CHALLENGES o Low Uranium Price;

o Downsizing to contain cost which lead

to the retrenchment of workforce;

o Rising input costs;

o Uninterrupted supply of water and

electricity.

THANK YOU!