GoviEx Uranium Inc. is pleased to announce that it has filed the Environmental and Social Impact Assessment (“ESIA”) report for its Muntanga Uranium Project in Zambia with the Zambia Environmental Management Agency (“ZEMA”).
This follows the submission of the draft ESIA earlier this year, which received no objection from ZEMA, and the Agency’s request that GoviEx proceed with the filing. The ESIA has been prepared in accordance with Zambian regulations and international best practices and is a key requirement for obtaining an Environmental Permit.
Approval of the ESIA, which typically takes up to six months, is a critical milestone on the path to project development. The ESIA is being reviewed together with the project’s Resettlement and Compensation Action Plan (“RCAP”), ensuring that environmental and social considerations are fully integrated with stakeholder engagement and resettlement planning.
Daniel Major, Chief Executive Officer of GoviEx, commented:
“We are very pleased to have filed the ESIA for Muntanga, marking another important step in our commitment to advance the project as planned and promised. The fact that ZEMA had no objection to our draft submission is a strong validation of the work our team has done to ensure Muntanga meets the highest standards of environmental and social responsibility. With this filing, we remain firmly on track in our permitting process and continue to build momentum toward developing one of the few near-term uranium projects capable of helping meet the growing global demand for nuclear fuel, as we transition into the next phase of growth under the Atomic Eagle brand.”
GoviEx recently announced a reverse takeover with Tombador Iron Limited that will see the Company rebranded as Atomic Eagle Ltd and listed on the Australian Securities Exchange (“ASX”). This transaction is expected to strengthen the Company’s balance sheet, consolidate its capital structure and enhance its ability to advance the Muntanga Project for the benefit of all stakeholders.
The Muntanga Project, located in Zambia’s Southern Province, is planned as a shallow open-pit, heap leach operation with a projected 12-year mine life, low operating costs, and robust financial returns. A positive Feasibility Study1 completed earlier this year confirmed an after-tax NPV8% of US$243 million and an IRR of 20.8% at a uranium price of US$90 per pound U3O8.
