WINDHOEK, Feb 13 – Australian uranium producers operating in Namibia are accelerating production plans as global uranium prices remain elevated amid renewed momentum for nuclear energy.
Paladin Energy said it is on track to complete the ramp up of its Langer Heinrich uranium mine and reach full production capacity from July. Chief Executive Officer Paul Hemburrow noted that the company has achieved five consecutive quarters of output growth and expects further improvements into fiscal 2027.
Uranium prices climbed to a two year high of 101 dollars per pound in January before stabilizing between 85 and 90 dollars per pound. The rally has been supported by a global push for nuclear power generation and concerns about future supply shortages of the mineral used to produce reactor fuel.
Namibia, currently the world’s third largest uranium producer after Canada and Kazakhstan, exceeded 10,000 metric tonnes of U3O8 output last year for the first time. The government is seeking to strengthen its position as new developments move forward.
China continues to play a significant role in Namibia’s uranium sector. China National Nuclear Corporation holds a 25 percent stake in the Langer Heinrich mine. The country’s largest producing operations, including Husab and Rossing, are majority owned by Chinese interests.
New Projects Could Expand Output
Two major projects are advancing that could materially increase Namibia’s uranium capacity. Bannerman Energy is developing the Etango project, while Deep Yellow is progressing the Tumas mine. Combined development costs are estimated at around 12 billion Namibian dollars.
A subsidiary of China National Uranium plans to acquire a 42.8 percent stake in Etango for up to 322 million dollars, according to regulatory filings. Bannerman Chief Executive Officer Gavin Chamberlain said a final investment decision is expected within six to twelve months, with first sales targeted for 2029.
Once operational, Etango could produce up to 6.8 million pounds of U3O8 annually without requiring additional drilling, according to company projections.
The Namibian Uranium Institute indicated that with existing mines ramping up and new projects entering production, national output could eventually exceed 20,000 tonnes per year, roughly double current record levels.
French nuclear group Orano is also reassessing its mothballed Trekkopje mine after losing licences in Niger, potentially adding further upside to Namibia’s long term production outlook.
Key export markets for Namibian uranium include China, Europe, Japan and the United States. Industry executives emphasize that continued expansion will remain closely linked to global uranium price trends, which are shaping investment decisions across the sector.
