Uranium in Namibia - 2022

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Johan Roux, Chairperson: Namibian Uranium Association, provided a sumamry of conditions in Namibia as off 2022:

"Contrary to expectations, 2021 did not bring the relief from the COVID-19 Pandemic that everybody had hoped for. Two more waves of infections hit Namibia with devastating effects on the economy due to lockdowns and other restrictions. Nevertheless, the Namibian uranium industry, by now well adapted to COVID-19 protocols and measures, remained once again resilient, applying rigorous safety and security measures, while constantly addressing the efficiency of operations. As a result, uranium exploration and mining continued to produce strong results and additional assets.

For the uranium industry, the year 2022 was characterised by the end of the COVID-19 Pandemic and positive developments in respect of the uranium price. This has also given new impetus to the Namibian uranium industry, which has been positioning itself well for the time when uranium prices reach a level that enables expansion of existing and development of new projects.

The Rössing Uranium Mine has been in operation for 46 years. It is one of the largest and longest operating uranium open cast mines in the World. A feasibility study to extend the life-of-mine beyond 2026 is currently under way, and the Ministry of Mines and Energy has already extended the Mining Licence to 2036. Based on the study, new investment may be considered from Q3 2023 onwards and contemplate several aspects such as pit and
TSF extension, plant refurbishment and infrastructure upgrades.

Production in 2022 amounted to 2659 t U3O8, about 7.7% less than in 2021. The main reasons for the lower production compared to 2021 are related to lower ore feed grade, as well as unplanned water outages due to lack of supply from the Erongo Desalination Plant because of elevated sulphur levels in
the ocean.

Total uranium production at Swakop Uranium’s Husab Mine in 2022 was 3,960 t of U3O8, marginally above the 2021 production of 3,902 t of U3O8. The 2022 Uranium production was negatively impacted primarily due to 39 production days lost on account of water shortages. Mining production was just over 97 million t, a slight reduction from the 102 million t mined in 2021. Mining production was primarily impacted by reduced working hours due to delays in receiving continuous operation (CONTOPS) exemption. Overall, Swakop Uranium is forecasting a 10% and 19% increase in mining and uranium production respectively in 2023. The major risk remains water availability."

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[For previous yearly summaries, (here)]