Zenith Energy says Novazza approval process to take six months

(Alliance News) - Zenith Energy Ltd announced on Thursday that the approval process for the environmental impact of its Novazza project will take six months, and that it has received an extension for the Val Vedello site.

The energy production, exploration and development company's fully owned Italian subsidiary, Futuro Energetico Italiano Srl, submitted applications in November 2025 for exploration permits covering two large uranium deposits in Lombardy, Val Vedello and Novazza.

Calgary, Canada-based Zenith announced Thursday that it has submitted an environmental impact assessment for the Novazza deposit. An ad hoc commission will now be established to evaluate the EIA, marking the final requirement before the exploration licence can be issued.

The company expects the approval process to last around six months.

Zenith also reported that it has requested and received an extension until July 15 for the Val Vedello site. The company said the extension was "due to delays in accessing the site, inter alia, as a result of adverse weather conditions."

Novazza and Val Vedello are the two largest uranium deposits in Italy. There are around 1,000 tonnes of metallic uranium at Novazza, and approximately 6,000 tonnes of uranium oxide at Val Vedello, with average grades up to 0.1%.

Andrea Cattaneo, Chief Executive Officer, commented: "We continue to prioritise open and constructive engagement with local communities, regional authorities, and all relevant stakeholders. We firmly believe that responsible resource development must be underpinned by trust, collaboration, and the delivery of tangible long-term benefits.

"Against a backdrop of evolving European energy policy, ongoing geopolitical tensions in the Middle East, and the resulting volatility in global oil markets, energy security and supply independence have become increasingly urgent priorities. In this context, we believe Val Vedello and Novazza are well aligned with broader strategic objectives."

Shares in Zenith fell 14% to 8.13 pence on Thursday afternoon in London.

By Joseph Rodgers, Alliance News reporter

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