Business
Australians to buy Tanganyika Uranium firm
A loader with a bucket full of low grade uranium in northern Saskatchewan, Canada.
Posted Monday, December 14 2009 at 00:00
The area located in the north of the country known as the “Eastern Rift” covers 2,420 square km and has targeted calcrete-style uranium.
Additional applications cover extensions to the above granted tenure.
Recently, Austrial Africa suspended processing operations at its Congolese copper smelting plant due to bad economic conditions.
It says it will continue to discuss the future of the plant with other parties with a view to possible sale, joint venture or other arrangements.
Uranium mineralisation was first identified in Tanzania in 1978-1982 by Uranerzbergbau GmbH (UEB).
The firm identified airborne radiometric anomalies during this period, leading to the discovery of two uranium deposits at Mkuju and Mdaba.
The Madaba-Mkuju property represents a sandstone-type uranium prospect within the same geological setting as the Mantra discovery.
It covers the Madaba uranium deposit identified by UEB.
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