Russian state-owned atomic energy corporation Rosatom has announced plans to start mining uranium in Namibia by 2029.
The corporation through its global mining company, Uranium One plans to complete the prospecting and exploration phase of the project by 2026, dubbed the Wings project. Exploration started in 2010, with geological studies conducted between 2018 and 2021, confirming the presence of a large sandstone-type uranium deposit.
With an initially projected lifespan of 25 years, the project will proceed to its next stage of development following data collection, an environmental impact study, and cost analysis.
At a total investment of $500 million, the planned output for the project is measured at 3,000 metric tons of uranium per year. Rosatom will utilize the In Situ Leaching (ISL) method the primary method of uranium mining worldwide but a first in Africa with the aim of ensuring effective and sustainable production.
According to Wings Project Manager Kirill Egorov-Kirillov, “If exploration and prospecting results are positive, and the use of ISL is justified, more than $300 million may be invested in a uranium mill.”
Following the start of production, the Wings project is expected to increase Namibia’s Gross Domestic Product by between 1% and 2%.
Egorov-Kirillov added that “over $50 million has been invested in the Namibian economy since the launch of Project Wings.
“This will make a sizable contribution to the national budget and create 500 jobs for the locals. Even now, while exploration activities are still underway, our contractors hire local professionals. Last year, over 150 local residents worked for the project,” he notes.
