Namibia remains world`s uranium giant

NAMIBIA has retained its spot as the fourth biggest uranium producer in the world for the second year running, contributing to nine per cent of global output last year, figures released by the World Nuclear Association (WNA) confirmed.

The country overtook Russia as the fourth biggest supplier of uranium oxide in 2008.
Compared to 2008, world uranium output rose by 15 per cent to 50 572 tonnes last year. Namibia’s production increased by six per cent to 4 626 tonnes.
Kazakhstan lifted Canada from the top spot by increasing production by 62 per cent to 13 820 tonnes. Canada, on the other hand, only managed to increase production by 13 per cent, totalling 10 173 tonnes.

Australia, despite a drop of six per cent in production, clinched the spot as third biggest supplier with 7 928 tonnes.

Namibia has set itself a target to be the world’s third biggest supplier of uranium oxide by 2015. However, it currently still lags considerably behind the top three.
Analyst Luise Nakatana of Investment House Namibia (IHN) said in her latest review of the local uranium sector that Namibia’s projected output for 2015 is about 52 million pounds, which is around 40 per cent of current world output.
In its recently released annual report, the Bank of Namibia (BoN) said uranium is expected to eventually surpass diamond mining in its significance towards gross domestic product (GDP) growth, exports and employment creation.

Rio Tinto Rössing Uranium and Paladin’s Langer Heinrich are currently Namibia’s only two producing mines, with production targets of between nine to 12 million pounds, and three to six million pounds respectively.

Valencia and Trekkopje are expected to come on board in 2012, with 2,9 million pounds and about eight million pounds as production targets respectively. Etango is expected to follow the next year, adding another 6,5 million pounds to Namibia’s output.

Rössing South, poised to become the biggest uranium mine in Namibia and one of the biggest in the world, is also scheduled to start production in 2013, and could add up to 15 million pounds of uranium oxide to the country’s output.

Credit: www.namibian.com.na