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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (18027)	4/18/2008 8:33:42 PM
From: LoneClone	Read Replies (1) \| Respond to of 192929

Kasungu sitting on high grade mineral BY GERALD NAMWAZA 15:44:10 - 18 April 2008 dailytimes.bppmw.com NIOBIUM, a mineral that is used in the steel industry to make high strength metal has been discovered North of Kasungu,The Daily Times has learnt. Global Uranium, an Australian company that is engaged in the exploration of minerals at its Kanyika project in Kasungu announced the discovery last week. “ Not only is the size more than double the initial exploration target, but it also remains open to the North, South and at depth,” says Mark Sumich managing director of Globe Uranium in a statement posted on its website. Apart from niobium, the company says others minerals discovered are tantanium, ---used in electronics—uranium and zirconium which have been discovered at the cost of A$3 million (about K400million). “The multi commodity aspect of Kanyika is one of its most outstanding feature and potential mine economics will be based almost entirely on the niobium extraction,” says Sumich in a statement. The company says the niobium market has shown an annual growth of 20 percent over the last five years. An initial study on the viability of the project focusing on mining, marketing, transport and logistics is currently underway and is expected to the through by June or July this year. According the company website, a part from the planned activities for Kanyika, the company is also active on its Livingstonia and Nthalire projects and plans to start drilling in May this year. The company says it completed its initial base line environmental soil and water sampling programs some time in 2007 with the support of government. Globe Uranium becomes the second Australian-based uranium company after Paladin which is mining uranium at Kayelekera in Karonga. Economists have indicated that Malawi, whose economy is agro based stands to benefit if it continues exploring minerals but some environmentalists have said this should not be done at the expense of the environment.