TANZANIA IN FOCUS

The Tanzanian Government issued its first uranium mining license in April 2013 to Mantra Tanzania, a subsidiary of Australia’s Mantra Resources, which Russian state-owned company Atomredmetzoloto (ARMZ) bought in 2010. Mantra planned to start extracting uranium in the Mkuju River project during 2013, but the project has been delayed due to the low price of uranium. An agreement with Uranium One (a Canadian-based company which is a wholly owned by ARMZ)) has given Uranium One operational control of the project. The project is estimated to hold 139,600 tonnes of measured and indicated uranium.