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Kalahari Minerals’ Mark Hohnen Speaks to Proactiveinvestors

Mark, thank you very much for joining us for this interview.

Thank you Harry.
Earlier this week,* Extract announced the Maiden Resource at Rossing South. What are your thoughts on this resource and how big do you think Rossing south is going to be?

The Zone 1 resource that was announced this week was announced at 108 million pounds and at a grade of 430 parts per million. In the last year Extract announced its target here was 60 – 90 million pounds with a grade of 260 – 300 which is the same as Rossing. So they have exceeded that handsomely, but more interestingly it’s open to the north and the south and at depth, so Zone 1 itself is going to be much larger. Zone 2, which is 2 kilometres in length and has been drilled 2 kilometres in length, their target there is 90 – 105 million pounds. We believe that the upper side is certainly very achievable. Brock Salier, who is the Resource Analyst at Ambrian, our Brokers, has been on site there and his initial target for Rossing South is 300 million pounds; we think that’s very easily achievable given time and given drilling. The most important thing to remember is that the Rossing South structure is some 15 kilometres long and between Zone 1 and Zone 2 there have only so far drilled 4.4 kilometres. So there is another 11 kilometres of potential there and there is no reason to say that it isn’t all going to be bearing. So this thing could be a real elephant. It is certainly now the most important discovery in Namibia and one of the most important in the world. read more

Russia urges Australia to honour uranium deal

AAP

Russia is urging Australia to honour a deal to sell uranium to the former Soviet state, saying nuclear cooperation will be “fruitful” for both nations.

Sergey Mironov, chairman of the upper house of the Russian parliament, believes there is “no alternative” but for Australia and Russia to cooperate on the issue of nuclear energy.

“In the field of peaceful uses of nuclear energy, I believe there is no alternative to this cooperation because it is fruitful for both Russia and Australia,” he said.

The former Howard government struck a deal – estimated to be worth about $1 billion – with Moscow in 2006 to sell uranium to Russia on the proviso it be used for civilian purposes under strict safeguards.

But the parliament’s treaties committee recommended in September last year the government delay the deal until Australia can be certain Russia will meet its obligations under the nuclear non-proliferation treaty.

The Rudd government is yet to respond to the recommendation.

Mr Mironov has had meetings with Prime Minister Kevin Rudd and Foreign Minister Stephen Smith during his two-day visit to Canberra but neither office was immediately available to comment on the discussions.

In a lecture at Parliament House, the chairman of Russia’s Federation Council lent his support to Mr Rudd’s proposal for an Asia Pacific Community by 2020.

While the regional response to the idea has been lukewarm so far, Mr Mironov was far more enthusiastic.

“Russia is interested in this initiative undertaken by Kevin Rudd about setting up the Asia Pacific Community,” he said.

The issue was canvassed during his meeting with the prime minister, whom Mr Mironov indicated was in “no rush” to proceed with the initiative.

“Mr Rudd said that there is no rush in the schedule of the setting up of this organisation,” Mr Mironov said.

He described the proposal as a good idea but believes it should concentrate on security and other matters and leave the regional forum for economics to the Asia Pacific Economic Cooperation (APEC) gathering.

“This new entity would rather detail political problems and problems of security. Russia is considering thoroughly this initiative and our president will respond to this initiative in proper time.”

“But I as a parliamentarian believe it is a good and positive initiative.”

Uranium Association calls for nuclear debate

17 March 2009
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Australia should have a debate on the implications of introducing nuclear energy given that it has 40% of the world’s low cost uranium resources, Uranium Association executive director Michael Angwin told MINING DAILY.

“As suppliers of raw fuel to the nuclear power industry, we don’t believe there should be any principal objections to a nuclear power industry in Australia. After all, 31 other countries around the world are currently employing nuclear power,” he said.

Angwin said it makes sense to have the nuclear power debate in Australia.

“If we have such a debate and we come out the other end without nuclear power it will be because we know we have better alternatives to it and if we come out the other end with nuclear power, then we will know that we’ve got it for good reasons,” he said.

“People fear uranium because they don’t understand it. A debate would help clear up any issues of this nature.”

While Angwin is a strong proponent for Nuclear energy, he said having an extensive uranium resource was not a reason for wanting nuclear energy.

Uranium mining expansion facing delay, warns analyst
Tuesday March 17, 2009, 8:17 am

A resource analyst is warning the global financial crisis could force BHP Billiton to delay a planned expansion of the Olympic Dam mine in outback South Australia by at least two years.

He has told a conference in Adelaide that the uranium industry is enduring a major shake-out thanks to the downturn, but will survive.

Among an array of resources, Olympic Dam near Roxby Downs has the world’s largest known uranium deposit.

The SA Government has long heralded a massive expansion of the mine, saying it will underpin an economic boom.

But the financial crisis has already claimed 85 jobs at Olympic Dam and an expansion date of 2013 is not set in stone.

Resource analyst Warwick Grigor forecasts a delay.

“Olympic Dam is probably going to slip by at least two years in its timetable, if not longer,” he said.
EIS due soon

The SA Government insists the project will go ahead and is negotiating a new indenture agreement with BHP Billiton, ahead of the release of an environmental impact statement (EIS) in May.

Paul Heithersay, of Primary Industries and Resources SA, thinks the mine has a future despite the current downturn.

“Clearly nothing is going to touch Olympic Dam in terms of contained uranium and therefore exploring for more of the same seems a pretty good bet to me,” he said.

But a tough credit market and a 68 per cent plunge in ore prices is making life much tougher for the once red-hot uranium exploration industry.

Greg Hall, of Toro Energy, says there are still opportunities.

“While we’ve probably reduced the amount of exploration, we are still undertaking some very targeted exploration on significant potential projects,” he said.

Michael Angwin, of the Australian Uranium Association, thinks the industry will ride out the tough time.

“The increase in demand for nuclear power over the next 20 years or so will be between 50 and 100 per cent and Australia, with 40 per cent of the world’s low-cost uranium resources, is well-placed to meet that demand,” he said.

He says demand will be fuelled by a move towards low-carbon energy.

Veto Ranger mine expansion, ACF tells Govt

The mine’s general manger of business development says a leakage isn’t affecting Kakadu National Park.

Australian Conservation Foundation (ACF) spokesman Dave Sweeney says news that contaminated water is leaking from the mine’s tailings dam is proof the company cannot properly treat its waste.

Environmentalists are calling for the Federal Government to reject a proposal to expand the Ranger uranium mine, which lies within the boundaries of Kakadu National Park.

The company ERA has put forward plans to expand and also use an acid leaching method to retrieve uranium and other minerals.

Australian Conservation Foundation (ACF) spokesman Dave Sweeney says news that contaminated water is leaking from the mine’s tailings dam is proof the company cannot properly treat its waste.

“Ranger is failing now already,” he said.

“The last thing that we need is to expand that mine, expand the problems, expand the pollution.

“This mine should be being cleaned up and being phased out, certainly not expanding.”

ERA’s general manger of business development, David Patterson, says the leakage is not seeping into the park and the company has strict waste management regulations that are working.

“The office of the supervising scientist is well aware of the issue that they’ve raised and has confirmed each year that ERA has no impact on the surrounding environment,” he said.

Uranium Association calls for debate on nuclear power
Monday March 16, 2009, 4:32 pm
http://wotnews.com.au/view/3171072/

The Australian Uranium Association says there is no reason why Australia should not have a nuclear power industry.

Executive director Michael Angwin is attending a mining conference in Adelaide and says it is time for a renewed debate on nuclear power, given that Australia has 40 per cent of the world’s low cost uranium resources.

He says there are 31 countries using nuclear power in a growing industry world-wide.

Mr Angwin says emotion cannot be discounted from a nuclear power debate.

“There is lots of emotion in this debate and you need two things when you deal with either uranium or nuclear power,” he said.

“The first thing you need is facts, the second thing you need is engagement with your stakeholders so that you can able them to say what worries them and to deal with what worries them in a genuine and timely way.”

Mr Angwin says it makes sense to have the debate in Australia.

“If we have such a debate and we come out the other end without nuclear power it will be because we know we have better alternatives to it and if we come out the other end with nuclear power, then we will know that we’ve got it for good reasons,” he said.