GoviEx Uranium Inc., a mineral company focusing on uranium exploration and development in Africa has announced a significant milestone in the development of its Muntanga Uranium Project in Zambia with the submission of its draft Environmental and Social Impact Assessment (ESIA) to the Zambian Environmental Management Agency (ZEMA).
This submission marks a key step as the project transitions from the feasibility stage toward execution. ZEMA will now review the draft ESIA and provide feedback, which GoviEx will incorporate into the final ESIA submission. The final approval is anticipated in the second half of 2025.
The draft ESIA filing follows the completion of a robust Feasibility Study, which confirmed Muntanga as a shallow, open-pit heap leach operation with a projected 12-year mine life, low operating costs, and strong financial performance. The project boasts an after-tax Net Present Value (NPV8%) of USD 243 million and an Internal Rate of Return (IRR) of 20.8%.
Commenting on the development, GoviEx CEO Daniel Major stated,
“The momentum behind the Muntanga Project continues to build. With today’s draft ESIA submission, we are taking another significant step toward making Muntanga a reality. This progress demonstrates our dedication to delivering one of the few near-term uranium projects with potential to help meet growing global demand, while also ensuring environmental and social responsibility. We are also making solid progress on the financing front, with strong early-stage interest that reflects confidence in the quality and potential of the Muntanga Project.”
Muntanga is well-positioned to serve both Western and non-Western nuclear energy markets. The project benefits from Zambia’s favorable mining policies, reliable infrastructure, proximity to export routes, and a domestic surplus of sulfuric acid—an essential reagent in uranium recovery.
With a rapid construction schedule, GoviEx expects uranium production to commence within four months of mining. Full-scale production is scheduled for 2028, with discussions already underway with potential offtakers. The Muntanga Project remains one of the few near-term uranium developments capable of addressing the current global supply gap in the nuclear fuel market.
