Chamwe Kaira
Swakop Uranium, operator of the Husab Mine, recorded a net profit of N$562 million in 2024, marking a strong turnaround from a loss in 2023.
Total procurement for the year reached N$10.1 billion, with N$6.36 billion spent locally. The company said this reflects its continued support for Namibian suppliers and small businesses.
In its 2024 sustainability report, Swakop Uranium highlighted key production achievements.
The company mined 118 million tonnes of material and reached a record processing throughput of 1 720 tonnes per hour.
Its workforce stood at 4 300 employees, representing nearly 18.5% of Namibia’s mining labour force.
Swakop Uranium achieved a NOSA 5-Star Rating with a 91.11% score and maintained its ISO 45001:2018 certification for occupational health and safety.
The company introduced digital safety technologies such as fatigue monitoring systems, drone inspections, and radar slope stability monitoring, which helped reduce geotechnical incidents by 40%. Environmental efforts focused on tailings stabilisation, dust suppression, and improved water recycling systems.
In 2024, Swakop Uranium completed eight major technical projects, including work on intelligent blending, improved blasting techniques, trolley assist systems, and metal detector development.
The company said these projects are positioning it for continued growth and operational efficiency.
Swakop Uranium invested N$26.4 million in employee training, bursaries, and leadership development.
Fifteen employees received international training in China through the CGN Egret Leadership and URC International Uranium Talent Programme. The company’s localisation ratio reached 96%, with Namibians occupying the most positions.
Chairman Qiu Bin and CEO Luo Wei reaffirmed Swakop Uranium’s commitment to “mining for a sustainable future”, pledging to strengthen local empowerment, promote green technologies, and support Namibia’s role in global clean energy supply chains.
“As one of the world’s largest uranium producers, our responsibility extends beyond production; it is to ensure that every tonne of uranium we produce contributes to a safer climate and a more sustainable world,” said Qiu Bin.
Board director Li Li of China General Nuclear Power Group (CGN) said the company’s journey in Namibia began in 2012, when it invested in and began operating the Husab Mine.
With a total investment exceeding US$5 billion, Husab remains China’s largest single investment project in Africa.
Swakop Uranium is 10% owned by Namibia’s Epangelo Mining Company and 90% by Taurus Minerals Limited, jointly owned by China General Nuclear Power Group and the China Africa Development Fund.
