Australian diamond explorer Gibb River Diamonds has staked its claim in the heart of Africa’s uranium industry, acquiring two significant projects in Namibia. This move marks a strategic shift for the company, known for its diamond and gold exploration in Western Australia, and signifies the growing appeal of Namibia’s rich uranium resources.
The Sunday Times dives into this development, exploring its implications for the African Mining and Energy sector.
Gibb River Diamonds has secured a whopping 1,828 square kilometres of Namibian soil across six exclusive prospecting licenses. These licenses encompass areas within the Erongo and Kunene districts, well-established for their uranium deposits. The Erongo district, in particular, is a renowned uranium producer, boasting mines like Paladin’s Langer Heinrich and Deep Yellow’s Tumas deposit.
“This acquisition positions Gibb River Diamonds as a key player in Namibia’s flourishing uranium sector,” says industry analyst David Jones. “The company’s experience in exploration, coupled with Namibia’s established infrastructure and geology, creates a promising recipe for success.”
The Erongo project itself holds particular promise. Gibb has secured two permit applications covering 47.6 square kilometres, and the company is actively seeking to expand its footprint in the region. These permits target calcrete-palaeochannel uranium deposits, a specific geological formation known for hosting uranium mineralization. Notably, Gibb’s permit borders Elevate Uranium’s Koppies North prospect, suggesting the potential for a contiguous uranium deposit.
While exploration is still in its early stages, Gibb has taken crucial steps to expedite the process. The appointment of Namibian exploration manager Nico Scholtz demonstrates the company’s commitment to the region. Additionally, Gibb is progressing with environmental and heritage clearances, a necessary step before commencing drilling activities.
This Namibian foray amidst the continued development of Gibb River Diamonds’ Australian projects. The company anticipates the publication of a new alluvial resource estimate at Ellendale and finalising the mining lease for the Edjudina gold project. Interestingly, Gibb also considered various Western Australian uranium projects but ultimately decided against pursuing them, potentially due to Namibia’s established industry and favourable geological conditions.
This publication will continue to monitor the progress of Gibb River Diamonds’ Namibian projects. This development has favourable potential to be a win-win for the company and Namibia’s mining sector. If successful, Gibb River Diamonds could unearth a significant new source of uranium, while Namibia benefits from increased investment and exploration activity. With the global demand for clean energy propelling the need for uranium, this venture holds significant promise for Africa’s mining and energy landscape.
