Namibia rides rising uranium tide

Namibia stands to benefit from growing global demand for uranium, as countries look to nuclear power to meet clean-energy goals.

This is according to the 2026 uranium outlook from Cliffe Dekker Hofmeyr (CDH) Namibia, a legal advisory firm.

“With rising demand from Asia, Europe, and Africa, uranium prices are anticipated to remain high, encouraging both established producers and new market entrants to boost production and ramp up exploration,” CDH Namibia managing partner Patrick Kauta says.

Namibia is one of the top three global uranium players in the world and stands to benefit from an upward trajectory in the global uranium market, he says.

The country has three active uranium projects: Rössing (China National Uranium Corporation), Husab (China General Nuclear Power Group), and the recently restarted Langer Heinrich (Paladin Energy), which is expected to reach full capacity in mid-2026.

As of the third quarter of last year, Namibia exported uranium worth N$7.3 billion.

In addition, a range of exploration activities are set to contribute to Namibia’s energy future: Etango-8 (Bannerman), Tumas (Deep Yellow), Norasa (Forsys) and Elevate Uranium’s portfolio (Koppies and others).

“If even a portion of these move into construction over the next decade, Namibia’s output and strategic relevance in the nuclear fuel supply chain could increase significantly from 2026 onwards,” Kauta says.

A robust export market for uranium would boost government revenues, as well as create jobs throughout the uranium supply chain, from mining to logistics.

However, Namibia’s uranium industry continues to face challenges. Uranium mining is a water-intensive industry, and drought threatens stable operations. Kauta says mines are investing in desalination plants and water recycling technologies to avoid disruptions in production.

Market volatility and demands for transparency around the environmental and social impact of uranium could also present risks to the industry, he says,

As of late January, the spot price of uranium is trading at approximately US$88.40 (N$ 1415.62) per pound.

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