Madison Metals Receives License Approval to Expand Khan Mine Development in Namibia, Africa
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Madison Metals said the Ministry of Mines and Energy of Namibia has granted a license for base and rare metals, industrial minerals, and nuclear fuels for exclusive prospecting licesce 8905, which lies at Madison West within mining license 86A, the same license area that hosts the Khan Copper Mine.
This important development signifies a major milestone for Madison as the company continues to build its portfolio and capitalize on the growth opportunities in the uranium mining sector. Madison is earning a 90 percent interest in ML-86A and EPL-8905 through cash payments, while 10 percent carried is held by the company’s esteemed Namibian partners.
“We are thrilled to announce the expansion of our EPL-8905 license to include nuclear fuels as a significant step forward for Madison. On behalf of the Madison team, I would like to extend heartfelt thanks to our Namibian partners for their professionalism, friendship, and unwavering support as we work together to systematically advance our knowledge and unlock the full potential of this project,” said Duane Parnham, executive chairman and CEO for 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,” added Parnham.
The new license 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 license, alongside that of uranium, expands Madison’s potential for producing more of the in-demand critical metals needed for the global energy transition.
This milestone complements Madison’s ongoing efforts to fast-track to uranium production and enhances the company’s ability to leverage the full spectrum of mineral resources available in the ML-86A and EPL-8905 license areas.
Madison Metals is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. With more than 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.
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