Chamwe Kaira
Namibia is emerging as one of the most important players in the global uranium market as demand for nuclear energy rises, a report by Simonis Storm Securities has found.
Expanded uranium production could add between N$5 billion and N$8 billion annually to government revenue by the early 2030s, supporting debt sustainability and funding infrastructure and development.
Namibia currently supplies between 10% and 11% of uranium mined globally.
Husab, majority-owned by China General Nuclear, produces more than 5 000 tonnes a year, making it one of the largest single uranium mines in the world.
Rössing, operating since the 1970s and now majority-owned by China National Nuclear Corporation, adds about 2 600 tonnes.
Langer Heinrich, recently restarted by Australia’s Paladin Energy, contributes between 1 400 and 1 600 tonnes.
Together, these mines bring Namibia’s annual output in 2025 to between 8 000 and 9 000 tonnes, securing its place among the top three global suppliers.
Projects in the pipeline include Bannerman’s Etango-8 and Deep Yellow’s Tumas, each expected to add up to 1 600 tonnes annually once developed.
Forsys Metals’ Norasa project provides longer-term expansion potential. Simonis said that if all goes ahead, Namibia’s uranium output could grow by 30% to 40% within the next decade.
The report noted that global electricity demand is forecast to increase by as much as 30% this decade, driven by electrification and technologies such as artificial intelligence and data centres.
Nuclear energy is expanding as countries seek secure and low-carbon power.
US President Donald Trump has called for a fourfold increase in nuclear capacity by 2050 and signed agreements with the UK to accelerate small modular reactor deployment.
In Europe, Germany and Belgium have extended the life of reactors, while France has reaffirmed its nuclear leadership.
In Asia, China and India continue to expand, and Indonesia is investing in its first reactors.
The World Nuclear Association projects uranium demand will rise from 69 000 tonnes in 2025 to 86 000 tonnes in 2030, reaching nearly 150 000 tonnes by 2040.
At the same time, output from existing mines is expected to halve as deposits are depleted.
Within the sixth National Development Plan (NDP6), Namibia has committed to mineral beneficiation, technology transfer, and industrial diversification and is exploring nuclear energy as part of this agenda.
Simonis said a dedicated Nuclear Energy Task Force is expected to produce a white paper to guide future policy.
Caption
In the sixth National Development Plan, the government has committed to mineral beneficiation.
Photo: MICT
