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Russian nuclear firm suspends uranium mining deal in Tanzania

Discussion in 'Major Projects in Tanzania' started by Maxence Melo, Mar 20, 2011.

  1. Maxence Melo

    Maxence Melo JF Founder Staff Member

    #1
    Mar 20, 2011
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    [​IMG]
    President Kikwete during a visit to the Atomic energy headquarters in Tanzania. Photo/FILE

    By MIKE MANDE
    March 20 2011


    The Russian state owned nuclear energy firm- JSC Atomredmetzoloto (ARMZ) is shelving a plan to acquire the $1.16 billion Mkuju Uranium assets in Southern Tanzania over the recent Japanese nuclear plant crisis.

    The move comes a month after the Russian firm obtained a take-over approval from the government of Tanzania under the Fair Competition Act 2003.

    The Tanzanian government had said that it would start higher grade uranium mining in early 2012 at Mkuju River following the completion of the feasibility study and the approval of environmental impact assessment of the area.

    The capital costs for the Project are estimated at $298 million in which $140 million will be used for the process plant and $158 million for project infrastructure.

    Artem Gorbachev, Chief Press Officer of ARMZ Uranium Holding Company said ARMZ is suspending its agreement with Mantra Resources over the recent crisis in Japan.

    Mr. Gorbachev said ARMZ considers that the condition precedent in the Scheme Implementation Agreement (SIA) dated December 15, 2010 between ARMZ and Mantra relating to a material adverse change is not capable of satisfaction.

    “JSC Atomredmetzoloto has notified Mantra Resources Limited that it believes that the series of incidents at the nuclear power plant in Fukushima, Japan are likely to have a material adverse effect on the business of Mantra,” he said.

    The incidents in Japan are likely to have a material adverse effect on the business, results of operations, assets or liabilities, financial position or prospects of Mantra but ARMZ intends to continue discussions in an effort to explore how the transaction may proceed.

    William Ngeleja, Minister for Energy and Minerals said last week that Tanzaniawill go ahead with the mining of the Uranium starting next year.

    The Project has the capacity to generate pre-tax cash margins of approximately $115 million per annum at an average uranium price of $60 per pound over the life of mine.

    Mr. Ngeleja said that all necessary processes with respect to the Special Mining Licence are also complete.

    “The project has been advised that all of the processes required by Tanzanian legislation for the issue of the Environmental Impact Assessment (‘EIA’) Certificate are well advanced,” he said.

    The government said the publication of the Uranium Mining Regulations has been completed and that these have been included in the proposed new mining regulations.

    But Professor Iddi Mkilaha, Director General Tanzania Atomic Energy Commission (TAEC), told The EastAfrican from Arusha that the regulatory authority has not issued any uranium mining license for Mantra to start its work.

    Professor Mkilaha said there are still lots of regulations that need to be followed and TEAC will not issue any license in the near future for foreign or local firms unless proper procedures have been followed.

    “There has been increasing regulatory concern all over the world to protect the safety of workers, public and the environment, prior to mining,” he said.

    There are more than 108.9 million tonnes of Mineral Resource Estimate at Mkuju River capable of producing an average annual production of 3.7 million pounds Triuranium octoxide (U3O8) over a minimum 12 year mine life.

    Mkuju River Uranium Project is a world class deposit targeting to produce approximately 3.7 million pounds of uranium a year using the Resin-in-Pulp metallurgical process.
     
  2. C

    Clejah Member

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    Mar 20, 2011
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    Can't the Tanzanian themselves invest and do this project. If the benefits are so high to help our country.

    Kama serikali haiwezi waache pending vipo vingi vya kufanya. Ntatoa mfano mmoja.

    Tanzania tunazalisha ngozi kila siku kutoka kwa Ng'ombe, Mbuzi na Kondoo.

    Serikali ianzishe kiwanda cha viatu vya ngozi na itoe amri kuwa mwanafunzi wa darasa la kwanza hadi kitado cha sita lazama anunue kiatu cha kiwanda cha ndani, mifuko ya daftari iwe ya ngozi kutoka katika kiwanda hicho. Je hapo napo panataka mabilioni kuwekeza au akili na umakini.
     
  3. Lyimo

    Lyimo JF-Expert Member

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    Hii ajali ya Japan imeharibu biashara ya uchimbaji wa Uraniam Tanzania na sehemu nyingine duniani, na hata inaweza kuharibu soko lake kwasasa kutokana na mataifa yenye kutumia malighafi hiyo kuanza kufikiria njia mbadala. Ujerumani inafikiria kusimamisha vinu vyake saba vya nguvu ya mitambo ya kinyuklia. Labda mnunuzi mkubwa atakuwa Iran na USA sijui itakuwaje hapo......
     
  4. pmwasyoke

    pmwasyoke JF-Expert Member

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    Japo ingeifaa Tanzania kuuza uranium - lakini kwa yaliyotokea Japan naunga mkono kusitisha shughuli za umeme wa vinu vya nuclear energy
     
  5. Nzokanhyilu

    Nzokanhyilu JF-Expert Member

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    It is just a negotiating tactic.
     
  6. FaizaFoxy

    FaizaFoxy JF-Expert Member

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    Unashangaza sana, wewe si mTanzania? Unangoja nini kuanzisha?

    Kwa kukujuza tu, nyerere alianzisha kitu kama hiyo huko Morogoro na Dar (bora), vimekufa, chaliiii. Wakaja wajanja wakavinunua kwa bure sasa Bora inatia faida kwa wenye kujuwa na kile cha Morogoro, wasomali waliokinunuwa baada ya muda wakakipiga kibiriti wakajichukuli fedha za bima kiubwete, wakafunguwa mahoteli, mengine wameyatia moto tena, wanangoja mifweza yao.

    Anza tu utaweza, usingoje serikali, ilishindwa toka wakati wa nyerere.
     
  7. myhem

    myhem JF-Expert Member

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    kama russia wanaleta pozi basi tuwaalike jamaa zetu wa iran wafanye mambo maana wanahitaji sana hiyo kitu.
     
  8. U

    Uwezo Tunao JF-Expert Member

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    Uwezo huo tunao sana tu alimradi maslahi ya taifaa inawekwa mbele zaidi wakati wote.
     
  9. Maria Roza

    Maria Roza JF-Expert Member

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    Wakaribisheni tuu siku vijukuu vyenu vikifa kwa kansa msilalamike :hatari::hatari::hatari:
     
  10. Companero

    Companero Platinum Member

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    unapokuwa na upepo, mimea, gesi, jua na maji ya kumwaga si lazima uzalishe umeme kwa nyuklia!
     
  11. andrewk

    andrewk JF-Expert Member

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    tuna makaa ya mawe yana tosha kwa miaka 150 ijayo
     
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