Australian mining company African Energy Resources (AFR) has sold its Zambian uranium portfolio to GoviEx Uranium Inc.
The deal will unify African Energy’s Chirundu and Kariba Valley properties with GoviEx’s Mutanga project, resulting in contiguous tenements containing combined mineral resources of 15.2Mlb U3O8 in the measured and indicated categories and 45.2Mlb U3O8 the inferred category.
The sale of African Energy’s uranium projects is subject to various regulatory approvals and is expected to close before the second half of July 2017. African Energy continues to focus on its portfolio of power generation projects in Botswana, including the 450MW Sese Joint Venture. GoviEx also owns uranium projects in Niger.