The Husab mine project would have a throughput of 15 million tonnes per annum to produce 8,000 tonnes of uranium yellow cake with 70 percent contained uranium.
The cost of developing the reserve are estimated to be over $700 million, Swakop Uranium said.
The mine is expected to be the second largest uranium operation in the world
2. China Uranium Corporation told a conference that the Azelik mine in Niger, 37.2%owned by the company would start trial production before the year end They are also planning a 700 ton per year Mongolian uranium mine.
They plan to raise production to China Uranium Corporation production to 2,500 tonnes by 2015 and then to 4,000 tonnes to 5,000 tonnes by 2020. Apart from Niger and Mongolia, CNNC is also looking for uranium mining resources in Russia, Zimbabwe, Australia, Kazakhstan, Tanzania and Zambia, he said.