Connected Minerals Enhances Uranium Prospects in Namibia

Connected Minerals is situated in Namibia, a key uranium-producing country. The company is focused on its projects near the Rössing Mine, aiming to develop significant uranium resources. Managing Director Warrick Clent points to Namibia’s favorable political and investment climate. Despite market volatility, the firm anticipates robust demand for uranium driven by decarbonization and technological advancements.

Connected Minerals (ASX:CML) is strategically located in Namibia, recognized as the world’s third-largest uranium producer. The company operates near the Rössing Mine, which has been a prominent uranium producer since 1976 and is currently Chinese-owned. In 2022, Namibia contributed 11% to the global uranium supply, and China is expanding its influence in Namibian mining activities. Connected Minerals is progressing its exploration efforts at both the Etango North-East and Swakopmund projects, where high-grade mineralization has been identified at Etango North-East, and Swakopmund is promising for a sizable, low-grade deposit.

Warrick Clent, Managing Director, emphasizes that Namibia’s stable political climate and supportive government contribute to attracting international investment. Connected Minerals is focused on developing a substantial uranium resource, capitalizing on existing infrastructure and its proximity to significant uranium operations. Despite recent fluctuations in uranium spot prices, the company maintains an optimistic outlook, anticipating that the long-term fundamentals will be sustained by various factors including decarbonization initiatives, rising energy requirements, and supply limitations. Furthermore, the anticipated demand surge is expected due to growth in data centers and advancements in artificial intelligence.

In summary, Connected Minerals is strategically positioned in Namibia, benefiting from the country’s substantial uranium production capabilities and supportive government policies. The company is committed to advancing its exploration projects amidst a global environment characterized by fluctuating uranium prices while remaining optimistic about future demand driven by various technological and energy trends.

Original Source: www.finnewsnetwork.com.au