All eyes on uranium mining in Namibia

OPPORTUNITIES for investment in uranium mining in Namibia will be the sole focus of a two-day conference in Windhoek next week.

Over 40 uranium-mining experts and investors will discuss geological, environmental and financial aspects of this specialised sector. The conference is organised by the Namibian branch of the Southern African Institute for Mining and Metallurgy (SAIMM).Joseph Iita, Permanent Secretary in the Ministry of Mines and Energy, will open the conference with a presentation on the Namibian Government’s view on the current ‘uranium rush’, the organisers say.Namibia is at the moment producing about eight per cent of the world’s annual uranium supply, which is mainly used to fuel nuclear power plants worldwide.Recent warnings by international energy experts that fossil fuels like oil, gas and coal will be depleted in three decades have sent uranium prices skyrocketing since January, reaching 120 US dollars per pound this week.The increase in the price of uranium has attracted quite a number of international mining companies to explore Namibia’s uranium deposits, with positive results being reported in international news media.The conference, which starts on Monday, is aimed at examining the factors contributing to the rise in uranium prices.The meeting presents an opportunity for international participants to get an overview of the Namibian uranium sector and will inform stakeholders of the potential for uranium mining and processing in southern Africa.Namibia has two operating uranium mines – Roessing Uranium, which started production 30 years ago, and Langer Heinrich Uranium, which started early this year.About 20 other mining companies are interested in prospecting other uranium deposits in the country.The Ministry recently placed a moratorium on issuing prospecting and exploration licences for uranium.About 65 applications are waiting for approval.The Russian government in February offered to bring a floating nuclear power plant to Namibia to help increase local electricity generation.Namibia is also investigating the possibility of building a nuclear power plant.The conference is organised by the Namibian branch of the Southern African Institute for Mining and Metallurgy (SAIMM).Joseph Iita, Permanent Secretary in the Ministry of Mines and Energy, will open the conference with a presentation on the Namibian Government’s view on the current ‘uranium rush’, the organisers say.Namibia is at the moment producing about eight per cent of the world’s annual uranium supply, which is mainly used to fuel nuclear power plants worldwide.Recent warnings by international energy experts that fossil fuels like oil, gas and coal will be depleted in three decades have sent uranium prices skyrocketing since January, reaching 120 US dollars per pound this week.The increase in the price of uranium has attracted quite a number of international mining companies to explore Namibia’s uranium deposits, with positive results being reported in international news media.The conference, which starts on Monday, is aimed at examining the factors contributing to the rise in uranium prices.The meeting presents an opportunity for international participants to get an overview of the Namibian uranium sector and will inform stakeholders of the potential for uranium mining and processing in southern Africa.Namibia has two operating uranium mines – Roessing Uranium, which started production 30 years ago, and Langer Heinrich Uranium, which started early this year.About 20 other mining companies are interested in prospecting other uranium deposits in the country.The Ministry recently placed a moratorium on issuing prospecting and exploration licences for uranium.About 65 applications are waiting for approval.The Russian government in February offered to bring a floating nuclear power plant to Namibia to help increase local electricity generation.Namibia is also investigating the possibility of building a nuclear power plant.