Namibian Mining News The Professional Mining Journal
Related Articles
Madison Metals, a prominent mining and exploration company, has secured a significant expansion of its operations in Namibia. The Ministry of Mines and Energy has granted the company a new exclusive prospecting license (EPL-8905) covering base and rare metals, industrial minerals, and nuclear fuels.
The license encompasses the same area as the renowned Khan Copper Mine, providing Madison with a strategic foothold in a region rich in mineral resources. This acquisition aligns with the company’s broader strategy of enhancing its mining portfolio and capitalising on growth opportunities, particularly in the uranium sector.
Madison Metals is on track to acquire a 90% interest in both ML-86A and EPL-8905, with its Namibian partners retaining a 10% carried interest. The newly acquired license expands the company’s exploration and development activities beyond uranium, including copper, gold, silver, and other valuable metals.
This development is a testament to Madison’s commitment to boosting uranium production and investigating lucrative base and rare metal prospects. By adding copper exploration to its Namibian operations, the company is positioning itself to produce more critical metals that are essential for the global energy transition.
Madison’s executive chairman and CEO, Duane Parnham expressed his enthusiasm for the expansion: “We are thrilled to announce the expansion of our EPL-8905 license to include nuclear fuels as a significant step forward for Madison. This achievement marks a pivotal moment in our uranium advancement strategy, and we look forward to the exciting opportunities it will bring.”
Parnham also extended his gratitude to Madison’s Namibian partners for their unwavering support and collaboration throughout the process. The company’s strategic expansion in Namibia reflects its commitment to creating shareholder value and progressing premier uranium assets, while also exploring additional opportunities in base, precious, and critical metals.
