Niger to begin Front-End Engineering Designs at Madaouela Uranium Project
The Front-End Engineering Designs at Madaouela Uranium Project is set to begin. GoviEx Uranium Inc. made the announcement and said this is a crucial step in the project’s development process.
The Madaouela Project represents a significant investment in the Nigerien economy, with an initial capital expenditure of US $343 million. It is expected to create up to 800 jobs over its 20-year mine life and contribute substantial royalty payments and taxes to Niger.
The mine holds significant uranium resources, with measured and indicated mineral resources of 96.9 million pounds of U3O8 and inferred resources of 19.6 million pounds of U3O8. The Muntanga Project in Zambia also holds substantial uranium resources.
Madaouela Project site
GS Bateman (Pty) Limited who have been appointed to work on the project, have been tasked with implementing initial ground works, including the construction of an access road, are underway at the Madaouela Project site. This includes site clearance, terracing, and initial civil engineering construction.
GoviEx has received expressions of interest (EOIs) for project-related debt finance totaling approximately US $200 million. This, coupled with the initiation of lender due diligence, indicates progress towards securing financing for the project. The firm is also closely monitoring the political situation in Niger, particularly regarding recent developments concerning Niger-US military arrangements. This monitoring is important for project planning and financing considerations.
Daniel Major, CEO of GoviEx, expressed optimism about the project’s development and he emphasized the project’s broader significance beyond uranium, highlighting its potential to bring economic benefits and develop local talent in Niger.
