Namibia’s Ministry of Mines and Energy has granted a licence for base and rare metals, industrial minerals, and nuclear fuels for Exclusive Prospecting Licence 8905 (EPL-8905), which lies at Madison West within Mining Licence 86A (ML-86A), the same licence area that hosts the Khan Copper Mine.
The new licence expands Madison’s scope of exploration and development to include uranium, copper, gold, silver, and other precious metals.
“This strategic move aligns with Madison’s commitment to advancing uranium production and exploring high-value base and rare metals opportunities. The addition of copper exploration on the Namibian licence, alongside that of uranium, expands Madison’s potential for producing more of the in-demand critical metals needed for the global energy transition,” the company said.
Madison said the development signifies a major milestone for the company as it continues to build its portfolio and capitalize on the growth opportunities in the uranium mining sector. Madison is earning a 90% interest in ML-86A and EPL-8905 through cash payments, while 10% carried is held by Namibian partners.
“We are thrilled to announce the expansion of our EPL-8905 licence to include nuclear fuels as a significant step forward for Madison,” said Duane Parnham, Executive Chairman and CEO of Madison.
“This achievement marks a pivotal moment in our uranium advancement strategy on the heels of our recent successful drilling results. It also introduces new dimensions to our asset portfolio through the rich copper resources of the Khan Copper Mine. We look forward to the exciting opportunities this development will bring.”
Madison Metals is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada.
