Looks like WME's next door neighbour Areva are getting serious -...

Looks like WME's next door neighbour Areva are getting serious - a big investment for a 9 year mine life. I'm sure they'll be looking over the fence for additional resources.

WINDHOEK (AFP) — French nuclear group Areva plans to invest 750 million dollars to create the world's largest uranium mine in Namibia, the company said Wednesday.

Namibia's mining ministry granted the license on Tuesday for Trekkopje, some 300 kilometres (190 miles) west of the capital Windhoek, said Iain McPherson, manager of Areva's local subsidiary UraMin.

Construction for the 750 million dollar (483 million euros) project would begin immediately, he said.

"Production is planned towards the end of 2009," he added. "We will process 100,000 tonnes of ore per day to extract about six to eight million pounds of uranium per annum."

Trekkopje will be the largest uranium mine in the world, McPherson said, creating jobs for some 800 people. The mine will have a lifespan of some nine years.

Areva, which claims to be the world's second largest uranium producer, bought UraMin in September for 1.9 billion dollars as part of a composite deal worth 12 billion with state-owned China Guangdong Nuclear Power Corporation (CGNPC).