The Ministry of Mines and Energy has expanded Madison Metals’ mining licence 86A to include nuclear fuels, base, and rare metals, as well as industrial minerals.
This expansion significantly increases the company’s exploration and development potential within the country.
Located within the existing Mining Licence 86A, home to the Khan Copper Mine, the new licence area will allow Madison to explore for uranium, copper, gold, silver, and other valuable minerals.
This strategic move aligns with the company’s focus on uranium production and its interest in high-value base and rare metals.
Madison Executive Chairman and CEO Duane Parnham said the development marks a substantial step forward for the company as it seeks to enhance its mining portfolio and seize growth opportunities, particularly in the uranium sector.
“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,” he said.
Madison holds a 90% interest in the licence area, with the remaining 10% held by Namibian partners.
Madison Metals Inc. is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada.
With over 50 years of mining experience, including 22 years in Namibia, its management team has geological and financial expertise and a track record of creating shareholder value.
