GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. The company has a sizable resource inventory with over 130M lbs U3O8 in measured and indicated categories, and 89.3M lbs U3O8 in the inferred category. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali. The company has completed its feasibility study for its main project in Niger, and is on track to start production in 2025, subject to project financing.
GoviEx has two uranium projects in advanced stage of development. The Madaouela Project in Niger contains one of the largest uranium resources in the world, with 100 million pounds of U3O8 in measured and indicated mineral resources, plus inferred resources of 20 million pounds of U3O8. After a successful feasibility study published last year, Madaouela is targeting to be in production by 2025/2026, subject to project financing.
GoviEx also owns the Muntanga Project in Zambia, which is expected to deliver a feasibility study in 2024 and start producing in 2026/27. Both projects are located in mining-friendly jurisdictions with all major permits required for development already secured.
In January, GoviEx announced the sale of its Falea (Mali) project to African Energy Minerals GoviEx will maintain significant interest in the project whilst concentrating on the continued exploration and development of Madaouela and Muntanga.
The fundamentals of the uranium market are strong, and over the next few years the world’s uranium demand is forecast to far outweigh its supply. GoviEx’s projects are timed to be come into production during this period of supply deficit, therefore placing the company in a good position to benefit from a likely rising market. Additionally, all projects are fully permitted, with good nearby infrastructure and have access to an experienced labor force.
GoviEx is proud to be in Africa, a continent that historically has been supportive of mining. Niger is currently the world’s fifth largest uranium producer, with commercial uranium production taking place since the seventies. In 2022, Niger supplied 25% of the EU’s uranium’s requirements.
GoviEx has strong ESG credentials and a continued commitment to mitigating long-term impacts to the environment while progressing the interests of all its stakeholders. Last year GoviEx published its first ESG report which is compliant with SASB, IFC and GRI standards.