Husab mine ‘nearing profitability’

Swakop Uranium's Husab Uranium Mine, the largest in Namibia, has shown promising production results for 2023, indicating that China’s single largest investment in Africa is nearing profitability. The mine, majority-owned by China General Nuclear (CGN), reported a 34% increase in triuranium octoxide production, reaching 5 318 tonnes, its highest volume yet.A record 12 million tonnes of rock were crushed and 115 million tonnes of soil were moved, marking a 13% increase from 2021 and solidifying Husab's position as Namibia's largest open-pit mine.Additionally, the mine saw a significant reduction in accidents, decreasing from seven in 2022 to two in 2023, a 71% improvement.This resulted in the fewest production and time losses due to injuries and accidents since the mine's inception in 2014. Coupled with a 25% drop in production costs per unit, Swakop Uranium managed to reduce financial losses by 44% year-on-year.Despite a turnover of N$9.045 billion, Husab reported a loss of N$1.62 billion in 2023. The mine employs over 3 000 workers who earned a total of N$1.401 billion in salaries. Of the N$8.07 billion spent on purchases, nearly half (N$3.945 billion) was spent within Namibia.Government earned N$217 million from royalties and N$19 million from export duties.Highest volumesSwakop Uranium is also committed to promoting women in mining. According to their 2022 sustainability report, 12,2% of its employees were women. One of these employees, Johanna Iithana, a mechanical engineering graduate employed by the mine in 2022, described her experience as a “wonderful adventure” and Husab as a place of constant learning. Pulani Maritz, who has served the mine for over 10 years, said: “At Swakop Uranium, we strive to be the best.”The mine has also developed a unique app to coordinate mining operations, utilising data from contractors Beifeng and GMS in addition to Swakop Uranium's own data.Patrick Chizabulyo, vice president of human resources, highlighted that Husab leads national mining volumes and is nearing its target of producing nearly 6 000 tonnes of uranium annually.Swakop Uranium CEO Qiu Bin revealed that the mine achieved a NOSA four-star safety rating last year and is progressing with the construction of a new 12-megawatt solar power plant.

Husab mine ‘nearing profitability’

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Republikein 2025-06-16

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Husab mine ‘nearing profitability’

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