Rio Tinto’s Rössing mine mine has been in production since 1976 and is still one of the world’s major producers of uranium. The Rössing mine, previously owned by Rio Tinto, was purchased by China National Uranium Corporation in 2019. Namibia’s second uranium mine, the Husab mine which is owned by Swakop Uranium came into production in 2016. This mega-scale operation is set to become the second largest uranium in the world once it reaches full capacity, with the ramp up of operations well underway.
Namibia’s uranium subsector is positioned to expand further with the potential development of new mines, which has been made possible by investments into exploration. Bannerman Resources has developed an advanced uranium project, and is likely to commence mine development once the incentive price for uranium is reached.
The second advanced exploration project is owned by Reptile Mineral Resources and Exploration who have run extensive exploration programmes for uranium on its Tumas and Omahola projects. Reptile is currently undertaking a Definitive Feasibility study for this project and intends to pursue mine development once the incentive price for uranium is reached.