Renewed interest in atomic energy is powering up Namibias uranium exports. The country is the worlds third-biggest exporter, after Kazakhstan and Canada. Namibia has five major projects in the development pipeline, which will expand the sector through to 2030 and double the countrys output. Ownership is dominated by Chinese, Canadian and Australian companies. The World Nuclear Association WNA has estimated that global reactor requirements for uranium in 2025 were at about 68 920 tU tons of uranium. Demand is expected to increase to just over 150 000 tU in 2040, with requirements rising to more than 204 000 tU in 2040 if there is high growth in the building of nuclear plants and more than 107 000 tU if there is slower uptake. The World Nuclear Outlook Report projects that global nuclear capacity could reach 1 446 GWe gigawatt-electric by 2050, up more than threefold from the current 400 GWe produced by about 440 reactors. In March 2026, South Africa endorsed the declaration to triple global nuclear energy capacity by 2050, joining 33 nations committed to expanding nuclear energys role in delivering clean, secure and affordable energy systems, according to a WNA statement issued during the Africa Energy Indaba, held in Cape Town from 3 to 5 March. There are currently three major mines in Namibia, situated near Swakopmund in the Erongo region. Husab is a massive open- pit mine operated by Swakop Uranium majority-owned by China General Nuclear. It is Namibias largest uranium producer and is ranked as the second-largest globally. The mine is 10 state- owned, with the remaining 90 falling under the control of Chinese entities. Opened in 1976, Rssing is one of the worlds longest-running open-pit uranium mines. Now majority-owned by China National Nuclear Corporation CNNC, the current deposit is expected to be depleted by 2036. South Africas Industrial Development Corporation announced in January 2026 that it had put its 10.2 stake up for sale after the expiry of its investment horizon, according to the company. In 2018, the Langer Heinrich Mine was mothballed due to low prices. In 2022, the mines owner, Australia-listed Paladin Energy, restarted it after uranium prices increased. The mine started producing in 2024. There are three advanced projects in the pipeline: Etango-8, Tumas, and Norasa. Collectively, they could double existing production to about 5 400 metric tons of U3O8, also known as yellowcake. According to the developers, Bannerman Energy, early works at Etango are progressing on budget and on schedule, with detailed designs advancing well. Bannerman is listed on the Australian and Namibian stock exchanges. The Tumas mine, owned by Deep Yellow of Australia, is reported to be technically ready for development. In a March 2026 corporate update, the company said that a final investment decision would be informed by the uranium price. Forsys Metals, which is listed on the Toronto, Namibian and Frankfurt stock exchanges, announced in late 2025 that its Norasa project was construction ready. Still in its early stages is the Eureka uranium project, operated by Canada-listed ReeXploration, which is exploring a deposit near Usakos. ER
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