Tumas Mining License Application Lodged with Ministry of Mines
Perth, July 27, 2021 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to announce that the Tumas Project Mining Licence Application (MLA) was officially lodged with the Namibian Ministry of Mines and Energy (MME) on 21 July 2021, registered as MLA 237 on behalf of Reptile Uranium Namibia (Pty) Ltd (RUN), a wholly owned subsidiary of Deep Yellow.
This application is shown on the department's cadastral system as below (see Figure 1*).
Deep Yellow is currently progressing a Definitive Feasibility Study (DFS) at the Tumas Project, focused on evaluating a uranium operation with a minimum 20-year Life of Mine at a production rate of circa 3Mlb per annum.
Completion of the DFS is expected in the latter part of 2022.
The MME will now commence the engagement process with Deep Yellow for the grant of MLA 237, which is expected to be within 18 months. This will require submission of follow up documentation including the completed Tumas DFS and associated Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP) for the grant of the Environmental Clearance Certificate (ECC) by the Ministry of Environment, Forestry and Tourism, after which final consideration for the grant of the ML is expected to be given by the MME.
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About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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