Atomic Eagle (ASX:AEU) has received key environmental and social permits required to move forward with construction of the Muntanga Uranium Project in Zambia.
The company has obtained approval of the environmental and social impact assessment (ESIA) from the Zambia Environmental Management Agency, as well as no-objection approval of the Resettlement Action Plan (RAP) from the Office of the Vice President Resettlement Division.
According to Atomic Eagle, the ESIA and RAP approvals are expected to ‘materially de-risk’ the project, while providing a clear regulatory pathway towards future development.
Under the RAP framework, a compliant resettlement and livelihood restoration framework is in place for the project, in line with the International Finance Corporation’s Performance Standards.
Muntanga is eligible to progress towards development, subject to standard implementation steps.
CEO Phil Hoskins says securing both approvals indicates a “major step forward for the Muntanga Project, significantly de-risking the pathway towards eventual development”.
“It is also a strong endorsement by key government agencies reflecting strong regulatory alignment and stakeholder engagement, further reinforcing Zambia’s support for responsible uranium development and its attractiveness as a mining jurisdiction,” Hoskins says.
“With key permits in place, Muntanga is now positioned as a development-ready asset – an increasingly rare and strategically valuable profile in a uranium market where few projects can deliver new supply into the expected structural deficit.
“Whilst we are pleased to have cleared these permitting milestones, our focus remains on growing the resource base to support a larger, more valuable operation at Muntanga.”
Atomic Eagle is focused on the exploration and development of uranium assets in Africa.
Write to Maddison Elliott at Mining.com.au
Images: Atomic Eagle
