Banking on a recovery in the uranium price in 2009 -the strategic metal is currently trading at USD 47 a pound against USD 70 last August - Rio Tinto is seeking to extend reserves at the Rossing mine in Namibia. It had almost closed the complex when the price was at its nadir a few years ago, but then decided to extend its life until 2016 by deeper and lower grading ore. The group is currently planning to extend the mining perimeter.
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