Resurgent uranium

With global demand on the rise, 2022 uranium production only met 74% of demand.

Namibia has significant uranium mines, which produced 13.5% of the world’s mining output in 2022. The country’s first commercial uranium mine began operating in 1976, and both Rössing and the massive newer Husab Mine remain in operation.

A re-start plan for the Langer Heinrich Mine is under implementation.

According to internationally recognised expert and executive director of the Namibian Uranium Institute, Dr Gabi Schneider, current uranium prices also support the development of advanced exploration projects. Schneider said uranium is experiencing a resurgence.At the beginning of 2021, the uranium spot price stood at US$30.20 and started a steep increase to above US$50 in September. Currently, it is about US$55.40. Since the post-Fukushima low (US$18.00) in 2016, the increase has been 208%, she pointed out.China has a plan to build 150 nuclear reactors in the next 15 years, while worldwide, […]

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