Rössing Uranium makes N$6,4 billion in 2023

Rossing Uranium made revenue of N$6,4 billion last year, exceeding its target by 10%.

Speaking at the company’s sustainability report launch in Windhoek on Tuesday, Rössing managing director Johan Coetzee said the company performed above expectations.

“Production was in line with our operational plan and 10% higher than in 2022. Total revenue earned amounted to N$6,48 billion, compared to N$4,84 billion in 2022,” said Coetzee.

The net profit after tax from normal operations was N$1,3 billion, compared to N$840 million in 2022.

Dividends paid by the company were N$177 million (N$50 million in 2022).

“Rössing contributed approximately 4,5% to world primary production during 2023, with Namibia now being the third largest primary producer of uranium oxide (U3O8) globally, after Kazakhstan, which continues to dominate the market from a supply side, and Canada,” said Coetzee.

A total of 2 920 tonnes of U308 were produced, compared to 2 659 tonnes in 2022.

In 2019, the China National Uranium Corporation (CNUC) acquired the majority shareholding in Rössing Uranium.

During the launch, the company also celebrated five years after the company was acquired.

Speaking at the launch, mines and energy minister Tom Alweendo said last year the mining industry spent N$21 billion on local procurement.

According to Alweendo, the mining industry paid N$6,4 billion in royalties and taxes, as opposed to N$4,2 billion in 2022.

“These statistics indicate that the mining industry remains the bedrock of our economy,” he said.

Alweendo commended all mining industry stakeholders for their positive contribution to the Namibian economy in 2023.

The mining industry’s direct employment is now standing at around 18 189.

In terms of corporate social responsibility, the industry contributed N$211 million.

Alweendo also applauded Rössing Uranium for the mine’s extension to 2036.

“The mine’s achievement rests on its visionary leadership that managed to get the approval of phase four mine expansion,” he said.

He further added that the mine has a positive impact on the Namibian economy.

“The mining industry’s contribution to the gross domestic product was 14,4% in 2023, compared to 11,9% in 2022,” said Alweendo.

He commended Rössing Uranium for its dedication to safety.

“Rössing Uranium has won the 2023 Inter-mine Safety Competition Award held by the Chamber of Mines of Namibia, testament to the mine’s visionary leadership.”

Chinese ambassador to Namibia Zhao Weiping, praised the company for its commitment to sustainability.

“In the five years since CNUC acquired Rössing Uranium Mine, it has adhered to sustainable development,” Weiping said.

“The 2023 Sustainability and Performance Report showcases the mine’s commitment to sustainable development, its specific practices and notable results over the past year,” said Weiping.

– Email: shania@namibian.com.naTwitter:@ShaniaLazarus

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