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An Australian mining company says there are high prospects that Malawi would venture into full throttle-mining of Uranium, with feasibility studies starting by May next year.
John Borshoff, managing director for Paladin Resources Limited, a company currently working on preparations for an anticipated Kayelekera uranium mine in Karonga, said in an interview prospects for the project were good.
He said after the feasibility study, full time mining would start by 2008.
Said Borshoff: “Once it (mining) starts we anticipate US$44 million annual export earnings for the country. Of course the project would cost between US$50 million to US$50 million to develop.”
He said construction of the mine would take a period of between 12 to 15 months and would employ between 300 an 350 people.
“We will be using Karonga as a mine base, which will be complete with workshops and headquarters. We are sure that because of such a project, Karonga would entirely be transformed - actually we would like to justify daily commercial air flights to Karonga when the mining starts,” he said.
Scheduled commercial flights to Karonga were suspended.
Borshoff said the mining project at Kayelekera will also demand improvement of roads like the one to Chitipa.
Paladin Resources Ltd is also conducting feasibility studies at Langer Heinrich in Namibia for another Uranium project. The study is expected to be over by March 2005.
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