Inside Husab Mine: Namibia’s Largest Mining Investment and Its National Impact

Namibia’s mining sector stands tall, contributing 13.3% of GDP and drawing N$24 billion in local procurement. At the heart of this industry is Swakop Uranium’s Husab Mine, the World’s largest open pit uranium mine.

The Husab deposit, discovered in 2006, required N$1.2 billion and 800km of drilling to prove viable, just as the global financial crisis began.
In 2012, Epangelo Mining, China General Nuclear Power Company and China-Africa Development Fund made the bold choice to invest, despite uranium prices collapsing post-Fukushima.
US$5 billion was poured into the mine for acquisition and construction, making it the biggest investment in the Southern Hemisphere in the past decade.
Construction started in 2013 and by December 2016, the first drum of U3O8 was produced.
After 5 years of ramping up, in 2022 the Husab Mine entered stable production and achieved breakeven in 2024.

From its challenging beginnings to the bold decision to invest amid global uncertainty, Husab Mine has grown into a symbol of scale, resilience, and industrial ambition.

Mining Capacity:
- Annual production: 120 million tons (three times that of Namibia’s 2nd largest open pit mining operation)
- Boasts the only ultra-HME mining fleet in the country
Process Plant Capacity:
- Annual production: 5,300 tonnes per annum (third largest uranium producing mine in the world)
Embedded Renewable Power Generation:
- 12MW Solar Power Plant
- 15MW Steam Turbine from recycled heat of sulphuric acid production
The mine also boasts a 10MW diesel generator plant as emergency take up in the event of catastrophic power outages.
Life of Mine: 2044

Swakop Uranium is not just a mining house. It’s an economic engine and a long-term partner in Namibia’s growth.

Employs 20% of the Namibian Mining Workforce:
- Permanent Employees: 1,700
  - Nationals: 96%
  - Expats: 4%
  - Females: 12%
- Business Partners Employees: 2,500
  (Majority from mining business partners augmenting the mine’s significant fleet requirements)
Total consumption per year:
- 9 million m³ desalinated water
- 438,000 MWh electricity from national grid
- 69 million liters diesel
N$10 billion procurement spend in 2024:
- N$2.3 billion to Namibian government parastatals
- N$5 billion to other Namibian businesses
- N$2.7 billion to foreign businesses

Swakop Uranium ensures that Namibians gain the skills, confidence, and opportunities to lead in mining and beyond by intensively investing in training and upskilling.