C29 Metals Limited, an Australian mining company, has announced a strategic collaboration with Volkov Geology, a subsidiary of Kazatomprom, Kazakhstan’s national uranium producer.
This partnership is a significant milestone in C29 Metals’ journey to become a leading player in the global uranium industry.
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Key Highlights of the Partnership
- Memorandum of Understanding (MOU): C29 Metals signed an MOU with Volkov Geology, aiming to leverage their extensive experience in uranium exploration. Volkov Geology, known for its expertise, has a history of over 75 years in the field, making it the largest driller in Kazakhstan by annual drill meters.
- Upcoming Drill Program: The initial phase of the collaboration involves a comprehensive drill program, set to begin in November 2024. Volkov Geology will provide geological services, technical oversight, and certified laboratory services to ensure compliance with Kazakhstan’s regulatory standards.
Future Expansion and Project Scope
The partnership’s scope is expected to expand in 2025, including geological studies, resource estimation, and advanced modeling.
This expansion will enhance the understanding of uranium deposits in the Ulytau region, which has a rich history of uranium exploration dating back to the 1950s.
- Location and Community Support: The Ulytau Uranium Project is based in the Almaty Region of Southern Kazakhstan. The local community of Aksuyek, home to approximately 700 residents, has shown strong support for the project. C29 Metals has signed a social agreement with the district government, committing to community development initiatives.
- Environmental Considerations: C29 Metals and Volkov Geology are committed to sustainable mining practices, ensuring minimal environmental impact while maximizing resource efficiency.
Comments from C29 Metals’ Leadership
Shannon Green, Managing Director of C29 Metals, expressed enthusiasm about the collaboration, stating, “Partnering with Volkov Geology marks a significant step forward in our strategy to rapidly advance our uranium projects.
This alliance will provide us with unparalleled geological expertise, helping us achieve our long-term goals.”
Next Steps and Strategic Vision
C29 Metals plans to finalize a commercial agreement with Volkov Geology soon. The initial drill program will be conducted by an independent contractor, with Volkov Geology offering critical oversight and technical services.
The company aims to make substantial progress in uranium exploration, positioning itself as a globally significant player in the industry.
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