- GoviEx Uranium Inc. has announced the results of its Feasibility Study representing an important milestone as GoviEx advances the Muntanga Uranium Project.
- The Muntanga Project, 100 per cent owned by GoviEx, is in the southeastern region of Zambia in the Siavonga and Chirundu Districts.
GoviEx Uranium Inc. has announced the results of its Feasibility Study (“FS”), representing an important milestone as GoviEx advances the Muntanga Uranium Project (the “Project”), fully permitted for mining, towards project financing and development.
The FS was prepared by Ukwazi Transaction Advisory (Pty) Ltd, SRK Consulting (UK) Limited and SGS Bateman (Pty) Ltd., compliant with the Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and with the support of the Company’s internal technical team. The FS will be filed by GoviEx under its profile on SEDAR+ within 45 days from the date of this news release.
The FS represents a detailed, fully costed, and updated engineering study of the Project, considering international best practices and standards for responsible project development.
Govind Friedland, Executive Chairman, commented, “The global energy landscape is undergoing a transformative shift, driven by the surging demand for clean, reliable power to support AI-driven technologies and electrification. Amid this growing need for nuclear energy, years of underinvestment in uranium exploration and development have left a critical supply gap that existing projects simply cannot fill. In this extraordinary market environment, Muntanga stands out as one of the few advanced uranium projects ready to help meet this demand. With production forecast for 2028, Muntanga is uniquely positioned to deliver significant value while contributing to the global transition toward sustainable energy.”
The Muntanga Project, 100 per cent owned by GoviEx, is in the southeastern region of Zambia in the Siavonga and Chirundu Districts. The Project encompasses three mining licences – Muntanga (Licence no. 13880-HQ-LML), Dibbwi (Licence no. 13881-HQ-LML), and Chirundu (Licence no. 12634-HQ-LML), covering 719 km2, that are located approximately 200 km south of Lusaka, north of Lake Kariba.
Additionally, the Company holds two exploration licences for Nabbanda (Licence no. 22803-HQ-LEL) and Chirundu Extension (Licence no 22075-HQ-LEL), and a recently granted mining licence for Kariba Valley (License no. 38555-HQ-LML) which expands the total combined area to 1,136 km². The Muntanga and Dibbwi mining licences comprise the Muntanga, Dibbwi and Dibbwi East deposits. The Chirundu mining licence contains the Njame and Gwabi deposits.
The Zambian government has recognized the importance of diversifying its mining sector to reduce reliance on copper and strengthen its economic resilience. This strategy includes promoting the development of other critical minerals, such as uranium, which is increasingly valued in the global transition to clean energy.
Against this backdrop, the Project is well-positioned to benefit from the government’s diversification strategy and its commitment to the sector. The Project already holds the necessary Mining Permits and is preparing to apply for Environmental Permits in the first quarter of 2025. Securing these permits will enable development to commence, subject to financing being completed.
The global energy landscape is undergoing a transformative shift, driven not only by the increasing demand for clean and reliable power to sustain AI-driven technologies and electrification but also by the growing urgency to enhance energy security amid shifting global geopolitical dynamics.
At the same time, years of underinvestment in uranium exploration and development have led to a widening supply gap, with existing projects struggling to keep up with accelerated demand and current rates of resource depletion.
Also, Muntanga emerges as one of the few near-term uranium projects capable of helping to address this critical gap. With a production forecast for 2028, Muntanga is strategically positioned to deliver significant value while contributing to the global demand for sustainable, low-emissions power generation.