Strategic partnership plans to develop advanced nuclear energy in South Africa
Specialist global investment firm C5 Capital and multinational mining and metals processing group Sibanye-Stillwater are joining together to participate in future development of advanced nuclear energy opportunities in South Africa and globally.
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Their newly announced strategic partnership will explore opportunities worldwide related to the identification, acquisition, financing, development, and management of uranium projects and production facilities which have the potential to supply uranium to small modular reactors (SMRs) and the fuel cycle for SMRs globally, the companies said.
C5 Capital invests into advanced nuclear energy, space, and cybersecurity, and has an Energy Security Fund that invests to strengthen the resilience of the global nuclear value chain. The company is a signatory of the Net Zero Nuclear Industry Pledge, a global initiative to triple nuclear energy capacity by 2050.
South Africa has a history of uranium production - generally as a by-product of gold or copper mining. Sibanye-Stillwater's diverse portfolio includes interests in mine tailings retreatment operations, including nearly sixty million pounds of mineral resources at its Cooke and Beatrix gold operations.
At Cooke, the company has 32.2 million pounds U3O8 (12,386 tU) of measured and indicated uranium resources contained in two surface tailings facilities, a byproduct of gold mining operations. These surface resources "represent a key strategic opportunity due to the proximity of the existing Cooke (gold only) and Ezulwini (gold and uranium) processing plants," the company says. According to World Nuclear Association information, the Ezulwini-Cooke operations last produced uranium in 2016.
The Beisa section of the Beatrix underground gold mine contains 26.9 million pounds U3O8 (measured and indicated).
Andre Pienaar, founder of C5 Capital, said the combination of C5's innovative investments in advanced nuclear with Sibanye's uranium production potential "creates a transformative partnership in clean energy both for South Africa and globally".
