US Firm Casts Eye on Namibia’s Uranium

A US firm, Bancroft Uranium Incorporated, said on Monday that it was scouting for mineral commodities in the Southern African region, particularly Namibia, South Africa and Zimbabwe for uranium, gold, platinum, manganese and coal.

The uranium giant, with mining interests in North America, said that it was in the process of reviewing potential acquisition opportunities in southern Africa.

Bancroft president Paul Hammond told the media that the company’s engineering team had just returned from a three-week property evaluation trip to Africa.

During the scouting trip, Bancroft officials were reviewing the potential for participation in a uranium development project in Namibia.

Furthermore, the company also reviewed the possibility of entering into other commodity projects in South Africa and Zimbabwe.

These commodity projects are related to gold, platinum, manganese and coal, the company said.

Hammond said that he had been pleased with the quality and quantity of opportunities presented to the company in southern Africa.

“The overall potential to acquire a large project at a reasonable cost is excellent. The uranium prospects in Namibia are exceptional and Namibia is forecast to be the world\’s leading exporter of uranium by 2015,” Hammond said.

Source African Press Agency

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