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Vol 52 No 4

Published 18th February 2011


Namibia

No uranium for Tehran

United States’ worries over possible uranium sales to Iran from the planned Valencia mine in west-central Namibia may have blocked its sale to George Forrest International (GFI), according to US State Department cables published by WikiLeaks. Valencia’s estimated uranium reserves are 29,000 tonnes, with hoped-for annual production of 1,600 tn. over 17 years from 2012. GFI offered Valencia’s owner, Canada’s Forsys Metals, US$579 million in cash in late 2008, along with other big investments in Namibia by Belgian magnate George Forrest, who made his fortune under the late Mobutu Sese Seko’s regime in Congo-Kinshasa (AC Vol 49 No 11).

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