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GoviEx Uranium, listed on the Toronto Stock Exchange, has submitted a draft Environmental and Social Impact Assessment (ESIA) to the Zambian Environmental Management Agency (ZEMA), marking a key milestone in advancing its Muntanga uranium project from feasibility into execution.
The draft is now with ZEMA; the agency will examine the paper and offer comments for GoviEx to use to improve the last ESIA. The second half of 2025 should see the final submission and possible approval.
This most recent event comes after a favorable feasibility study verifying Muntanga as a viable choice for development. Projected mine life of twelve years, the project is meant as a shallow open-pit, heap leach operation. The analysis pointed to minimal operational costs and good economics, including an after-tax net present value of $243 million and an internal rate of return of 20.8%.
“The momentum behind Muntanga keeps growing,” said GoviEx CEO Daniel Major. “Today’s draft ESIA submission is another significant step toward turning the project into a reality. It underscores our commitment to developing one of the few near-term uranium projects ready to support growing global energy needs while remaining firmly rooted in environmental and social responsibility.”
Major also observed that early-stage talks show trust in both the Muntanga project’s quality and potential, thereby attracting great attention from possible funders.
Located strategically, Muntanga is in a good position to service both Western and non-Western nuclear energy markets. It gains from Zambia’s supporting government policies, existing infrastructure, near proximity to export routes, and a plentiful domestic supply of sulphuric acid a vital component in uranium processing.
GoviEx claims that, by fast-tracking construction, the project may allow uranium production after only four months of mining start-up, distinguishing it as one of the few near-term uranium sources ready to help relieve a tightening world nuclear fuel supply.
First production is targeted for 2028, and discussions with potential offtake partners are already under way.
