SWAKOPMUND: The start of the Trekkopje mine project has been postponed indefinitely, AREVA Resources Namibia announced yesterday.
‘Considering both the continued decrease of uranium prices coupled with the investments yet to be made on site, AREVA has no other option but to postpone the launch of the Trekkopje mine,’ the company indicated in a media statement.
The Trekkopje mine is situated north of Swakopmund.
AREVA said the decline in uranium prices in October last year, forced a slowdown of production at the Trekkopje project.
The decline of the prices came as a result of the nuclear accident at the Fukushima plant in Japan last year.
All existing installations including the pilot project ‘MIDI’ and final phases of the ‘MAXI’ will be put under a N.dollars 872 million structured care and maintenance programme per year, with the objective to restart the project as soon as the overall market environment allows it.