TSX-listed GoviEx Uranium has filed a draft environmental- and social-impact assessment (ESIA) with the Zambian Environmental Management Agency (Zema) for the advancement of its Muntanga uranium project, marking a key step in the project’s transition from feasibility towards execution.

With the draft ESIA now submitted, GoviEx says Zema will undertake a review of the document and provide comments and guidance to GoviEx. This feedback will inform the final ESIA, which GoviEx will then resubmit for final approval, which is expected in the second half of 2025.

The company explains that the filing of the draft ESIA follows the recently completed feasibility study, which confirmed Muntanga as a robust, shallow openpit, heap leach operation with a projected 12-year mine life, low operating costs and strong financial returns – including an after-tax net present value of $243-million and an internal rate of return of 20.8%.

"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,” says CEO Daniel Major.

GoviEx says Muntanga is strategically positioned to supply both Western and non-Western nuclear markets, benefitting from Zambia’s excellent infrastructure, pro-mining government, proximity to export routes and domestic surplus of sulphuric acid – a key reagent in uranium recovery.

With a rapid construction timeline and expected uranium production within four months of mining commencement, the company says Muntanga is one of the few near-term uranium projects capable of helping bridge the global supply gap in a tightening nuclear fuel market.

The company notes that production is expected to begin in 2028, with discussions currently under way with potential offtakers.