First Uranium receives consent to transfer the mining right for the Ezulwini Mine from its parent Simmer and Jack Mines
TORONTO and JOHANNESBURG, South Africa, March 27 /PRNewswire-FirstCall/ -- (TSX:FIU, JSE:FUM) (ISIN:CA33744R1029) First Uranium Corporation ("First Uranium" or "the Company") today announced that it has received notice from the South African Department of Minerals and Energy (the "DME") that the DME has consented to the cession of the new order mining right for the Ezulwini Mine from Simmer and Jack Mines, Limited ("Simmer & Jack") to Ezulwini Mining Company (Pty) Ltd. ("EMC"), a wholly-owned subsidiary of First Uranium. Located 40 kilometres south-west of Johannesburg, the Ezulwini Mine is a uranium and gold mine that was reopened in 2006.
"Securing the consent of the DME for the transfer of the mining right to EMC is excellent news," said Gordon Miller, President and CEO of First Uranium. "The DME's consent is the result of us successfully satisfying the requirements of the Mineral and Petroleum Resources Development Act, including an audit of the Company's environmental and health programs and its social and labour plans, a review of the Company's compliance with Black Economic Empowerment requirements and the submission of an acceptable mining plan." Under the mining right granted to Simmer & Jack, First Uranium's parent company, EMC is nearing completion of the refurbishment of the main shaft at the Ezulwini Mine and began hoisting ore in September 2007. EMC began producing gold on a toll-milling basis in October 2007, although on a limited basis since January 2008 due to the power constraints at the neighbouring plant where the ore was being milled. EMC is on schedule to start up its own gold plant in April 2008 and its own uranium plant in June 2008.
About First Uranium Corporation First Uranium is focused on the development of South African uranium and gold mines with the goal of becoming a significant producer through the re-opening and development of the Ezulwini underground mine, and the construction of the Buffelsfontein tailings recovery facility. First Uranium also plans to grow production by pursuing value enhancing acquisition and joint venture opportunities in South Africa and elsewhere. First Uranium Corporation This document may contain or refer to forward-looking information based on current expectations. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
CONTACT: Bob Tait, VP Investor Relations at (416) 558-3858, or
2008-03-26 23:26:47 0320667 PRNEWSWIRE
HOME || Press Release Archive || © Leigh Media Corporation || Terms of Use || Privacy Policy || Publish Your Press Release Here |