{"id":320873,"date":"2022-06-10T06:00:00","date_gmt":"2022-06-10T04:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=320873"},"modified":"2022-06-09T18:31:52","modified_gmt":"2022-06-09T16:31:52","slug":"namibia-now-worlds-second-largest-uranium-producer","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=320873","title":{"rendered":"Namibia now world\u2019s second largest uranium producer"},"content":{"rendered":"

Zorena Jantze<\/p>\n

NAMIBIA\u2019S uranium production jumped to its highest levels in history, with the country surpassing both Australia and Canada to become the world\u2019s second largest primary producer of uranium oxide (U3o8) after Kazakhstan which continues to dominate the market from a supply side.<\/p>\n

This was revealed by China National Nuclear Corporation\u2019s (CNNC\u2019s) R\u00f6ssing Uranium in their stakeholder report launched on 8 June.<\/p>\n

Despite production volume being 11% higher than in 2020, the mine’s revenue was 6% lower due to the impact of a stronger Namibian dollar against the US dollar, as the mine currently sells all its products in U$ dollars.<\/p>\n

<\/p>\n\n

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BILLION DOLLAR BUSINESS: Deputy Minister of Mines and Energy, Kornelia Shilunga, with R\u00f6ssing Uranium\u2019s Managing Director Johan Coetzee. Photo: CNNC<\/figcaption><\/figure>\n<\/div>\n\n

<\/p>\n

Total revenue amounted to N$4.26 billion in 2021 compared to N$4.52 billion in 2020.<\/p>\n

Giving a keynote address at the launch of the stakeholder report, R\u00f6ssing Uranium\u2019s managing director Johan Coetzee stated that the company exceeded budgeted production targets by a significant margin, as the 2 882 tonnes of U3o8 produced during 2021 represent a 16% increase compared to 2020.<\/p>\n

\u201cTo produce this product, we had to mine 20.7 million tonnes of rock and process 9.6 million tonnes of ore,\u201d Coetzee said.
Touching on the future survival of the mine, the MD said that there are plans underway to expand the life cycle of the mine which is scheduled to close by 2026.<\/p>\n

\u201cWith the support of our Board and Directors and shareholders, we a working very hard to secure a longer-term future and continued employment security for the mine and our employees.<\/p>\n

“In November 2020, the Board of Directors approved funds to complete a bankable feasibility study for extending the life-of-mine beyond 2026. This is underpinned by a north-eastern extension of our existing open pit, referred to as the Phase 4 pushback, which can provide sufficient ore to continue production for another ten or more years,\u201d Coetzee said.<\/p>\n

R\u00f6ssing Uranium paid the government N$111 million in royalty tax and N$167 million as pay-as-you-earn tax on behalf of employees. No corporate tax dividends were paid in 2021.<\/p>\n

R\u00f6ssing had a total of 943 permanent employees, 99% of them being Namibians during the reporting period.<\/p>\n

The mine’s report also detailed that 20% of its workforce are women and that they are well represented across all levels of our organization.<\/p>\n

The MD said R\u00f6ssing Uranium currently sells a portion of its product into an existing long-term contract portfolio, and the remaining available production was sold to the China National Nuclear Corporation (CNNC) Group.<\/p>\n

\u201cIn 2021, 76% sales volume was delivered to Asia, of which 90% has been sold to the majority shareholder CNUC\/CNNC. The remaining 26% sales volume was delivered under the long-term contract portfolio to North America, Europe, the Middle East and Africa,\u201d he said.<\/p>\n

Cootzee said most of the procurement expenditure was on local suppliers, amounting to N$2.25 billion or 75% of total procurement expenditure. 14% of procurement spending went to South Africa, whilst the remaining 11% was spent internationally.<\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

Zorena Jantze NAMIBIA\u2019S uranium production jumped to its highest levels in history, with the country surpassing both Australia and Canada to become the world\u2019s second largest primary producer of uranium oxide (U3o8) after Kazakhstan which continues to dominate the market from a supply side. This was revealed by China National Nuclear Corporation\u2019s (CNNC\u2019s) R\u00f6ssing Uranium …<\/p>\n","protected":false},"author":11,"featured_media":320878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-320873","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"\nNamibia now world\u2019s second largest uranium producer - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"NAMIBIA\u2019S uranium production jumped to its highest levels in history, with the country surpassing both Australia and Canada to become...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=320873\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namibia now world\u2019s second largest uranium producer - 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