Namibia’s Ministry of Industry, Mines and Energy renewed Exclusive Prospecting Licence 3638 over the Namibplaas uranium deposit for two years to September 2028, Asarian Energy announced on 24 September 2026. The deposit forms part of the company’s Norasa Project alongside the adjacent Valencia deposit. The renewal allows continued exploration and Mineral Resource assessment at Namibplaas. Asarian plans additional drilling followed by a review of data supporting Norasa’s 2024 Mineral Resource Estimate. The company expects this work to be completed before the end of December 2026. The existing Namibplaas resource is classified as Inferred because of the underlying drilling information. The proposed programme is intended to address that limitation and potentially support upgrading portions of the resource to the Indicated category. The release does not report that such an upgrade has already occurred. Depending on the drilling and data-review results, Asarian will consider updating the definitive feasibility study completed in 2015. It explicitly describes that study as historical because its processes, cost assumptions and uranium-price assumptions differ materially from current conditions. The company says it should not be relied upon as a current indication of project economics. Norasa is held through wholly owned subsidiary Valencia Uranium (Proprietary) Limited. Its two deposits have different permitting positions: Valencia is held under Mining Licence 149, while Namibplaas is covered by the renewed exploration licence. Nexus analysis: Extending exploration tenure preserves the opportunity to improve the resource evidence; it is not a mining authorisation for Namibplaas, a construction decision or a production milestone. The immediate tests are completion of drilling and the resulting classification assessment. Any updated economic case remains conditional, and the historical feasibility study cannot establish current financing readiness or commercial viability.
- Asarian Energy
Namibia renews Asarian’s Namibplaas uranium exploration licence
Last verified 22 Oct 2026Verified
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