The Mines ministry has granted Madison Metals permission for nuclear fuel extraction under the company’s active Mining License 86A.
This is the same license within Madison West that hosts the past-producing Khan Copper Mine and the recent discovery of high-grade uranium intrusions.
The letter from the Ministry of Mines and Energy of Namibia granting permission for nuclear fuel extraction at ML-86A was dated August 1, 2024, and received by the company on the afternoon of August 9, 2024.
Madison Metals CEO Duane Parnham extended sincere gratitude to the Government of Namibia for supporting mining projects for the benefit of the citizens in a calculated and sustainable manner that provides further confidence to foreign investors.
“On behalf of the Madison team, once again, I would like to offer heartfelt thanks to our Namibian partners for their professionalism, friendship, and unwavering support as we work together to systematically fast-track the Khan project back into production,” Parnham said.
On July 12, 2024, the Ministry of Mines and Energy of Namibia granted a license for the base and rare metals, industrial minerals, and nuclear fuels for Exclusive Prospecting Licence 8905, which lies at Madison West within Mining Licence 86A.
The same license area hosts the Khan Copper Mine.
This critical development signified a significant milestone for Madison as the company continues to build its portfolio and capitalize on the growth opportunities in the uranium mining sector.
Madison is earning a 90% interest in ML 86A and EPL 8905 through cash payments, while the company’s esteemed Namibian partners hold 10%.
The new license expands Madison’s scope of exploration and development to include uranium, copper, gold, silver, and other precious metals.
This strategic move aligns with Madison’s commitment to advancing uranium production and exploring high-value base and rare metals opportunities.
The addition of copper exploration on the Namibian license, alongside that of uranium, expands Madison’s potential to produce more critical metals in demand for the global energy transition.
