08 November 2024 | 22:15

Australian company received permission to explore uranium in Kazakhstan

Illustrative photo ©️ Tengrinews.kz

Tengrinews.kz - C29 Metals, a company listed on the Australian stock exchange, has received an official Category 2 environmental permit for drilling and exploration on the Ulytau uranium project from Natural Resources and Environmental Management Department. This was announced by the company’s press service.

Tengrinews.kz - C29 Metals, a company listed on the Australian stock exchange, has received an official Category 2 environmental permit for drilling and exploration on the Ulytau uranium project from Natural Resources and Environmental Management Department. This was announced by the company’s press service.

According to the company, a memorandum of understanding has also been signed with Volkov Geology, a 100% subsidiary of the national uranium company Kazatomprom.

The memorandum was signed on October 28 of this year, the company reported.

"Negotiations have continued and the Company is pleased to advise that we are at a very advanced stage of finalising the commercial agreement with Volkov Geology and finalising the commercial agreement with the independent drilling contractor," C29 Metals said in a statement.

The company noted that the initial program for strategic drilling will be short-term. Currently, C29 Metals plans to drill at depths ranging from a few holes to 500 meters at key sites to assess mineralization.

"It is very exciting to have the official environmental permit enabling our team to commence the initial diamond drilling program this season. Obtaining this permit so quickly after receiving official notification that all regulatory requirements for the issue of the drill permit had been met once again demonstrates the positive operating environment in Kazakhstan and the support the company is enjoying," C29 Metals Managing Director, Shannon Green said.

The developer's production base will be located in the nearby village of Aksuyek, where, according to the company’s press service, "C29 enjoys strong community support."

The site in question is located about 15 kilometers from the Bota-Burum mine, one of the largest uranium deposits, where uranium was mined during the Soviet era. Uranium exploration in this area has been ongoing since 1953, with mining began in 1956 and continued until 1991.

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