GoviEx Uranium has merged with Tombador Iron to form Atomic Eagle; a new entity aimed at accelerating the development of the Muntanga uranium project in Zambia. Considered one of the world’s largest and least-explored sandstone-hosted uranium basins, Muntanga is positioned to become a future cornerstone of uranium supply. CEO Govind Friedland emphasized that the project combines significant exploration potential with alignment to global energy transition needs, as nuclear power reemerges as a clean, base-load energy source.
The transaction strengthens Atomic Eagle’s portfolio, which also includes assets in Mozambique (Monte Muambe) and Niger, giving the company a diversified presence across Africa’s uranium-rich regions. Listing on the Australian Securities Exchange (ASX) provides access to deeper capital markets, expected to fund exploration, metallurgical testing, and feasibility studies. The company’s projected cash balance of AU$19.4–24.4 million at listing will support drilling campaigns and technical evaluations to fast-track Muntanga toward development.
The rebranding to Atomic Eagle reflects a broader ambition: to position the company as a key player in the global uranium supply chain. With rising demand driven by the construction of new nuclear plants and the global push to reduce dependence on fossil fuels, uranium is increasingly seen as a critical mineral for energy security. By advancing Muntanga, Atomic Eagle aims not only to expand global reserves but also to create new opportunities for Zambia, enhancing its role as a strategic hub for clean-energy minerals in Africa.