Namibia Approves New Uranium Mining Expansion

Namibia has approved a new uranium mining expansion project aimed at increasing mineral production and strengthening export revenue, government officials said.

The project will expand operations at existing mining sites, including the Husab and Rössing mines, two of the world’s largest uranium deposits. Authorities said the expansion is expected to create hundreds of jobs and increase foreign exchange earnings from uranium exports.

Namibia is Africa’s largest uranium producer and ranks among the top five globally, supplying materials used in nuclear energy production across international markets, including China, France and the United States.

The Ministry of Mines and Energy said environmental assessments and regulatory approvals were completed before the project received final approval. Mining companies involved in the expansion, including China General Nuclear Power Group and Orano, also plan to improve transport infrastructure and operational facilities connected to the project.

Uranium prices have risen in recent years due to increased global demand for nuclear energy as countries seek low-carbon power sources. Namibia’s uranium sector plays a major role in the economy, alongside diamond and gold mining, contributing significantly to gross domestic product and government revenue.

The government has not yet disclosed the total investment value or a timeline for the expansion.

SOURCE: Reuters