GABORONE, May 18 (Reuters) - Botswana has given the go-ahead for what would be its first uranium mine with a capital expenditure of $351 million, Australian firm A-Cap Resources ACB.AX said on Wednesday, after passing an environmental impact assessment.
The southern African nation is estimated to hold around 1.04 billion tonnes of uranium reserves, and its government has issued several prospecting licenses in the last decade although no production has taken place.
The approval will help A-Cap Resources secure a mining licence, its CEO Paul Thomson said in a statement.
A-Cap Resources submitted an application for a mining licence in August 2015 with plans for an open pit mine that had a lifespan of more than 18 years. by Nqobile Dludla; Editing by James Macharia)