CHINA National Uranium Corporation Limited(CNUC) who are majority shareholders in Rössing Uranium operation in Namibia wants the mine to focus on more
exploration and increased production in the future.
CNUC chairperson Xu Yuan said in his annual statement contained in the Rössing Uranium annual report that they are setting sights on increased production on the back of reduced profit earnings in the past financial year.
“I hope Rössing Uranium will intensify exploration efforts, accelerate production and continue progressing towards the goal of building a continental mine, making an even greater contribution to Namibia’s economic and social development,” Xu said.
The company experienced a revenue slump of 9 percent in 2024.
The revenue slump was slightly better than in 2023 when they experienced a 20 percent deep.
Global uranium prices have been least competitive in the past few years owing to a push for cleaner energy sources and reduced appetite for the commodity worldwide.
The company also attributed their revenue deep to a month of closure to allow maintenance at the mine site.
Despite the revenue challenges Rössing Uranium sent its shareholders smiling to the bank with a 68 cents dividend payment per share.
According to the annual report Rössing Uranium mined a combined 30 335 metric tonnes of ore.
The company also boasted a N$523 billion expenditure on local procurement in 2024.
“Rössing Uranium’s operations in Namibia generate a long chain of economic value, supporting growth and prosperity across the country. As a major procurer if goods and services, we play a vital role in National development, particularly in the Erongo region where much of our activities are concentrated,” the company said.
Board chairperson Steve Galloway said the challenges faced by the company in 2024 are a lesson in providing safety.
“ I am confident that with the dedicated workforce and its management, Rössing Uranium will continue to through and be a good leader in the sustainability space,” Galloway said.
Speaking at the launch of the Rössing Uranium last week Deputy Minister of Industries ,Mines and Energy
Gaudentia, Kröhne said the government is keen to have local resources develop the Namibian economy.
“The Namibian Government has consistently emphasised that the mining sector should drive the harnessing of our abundant mineral resources and thereby contribute to the uplifting the livelihoods of the
Namibian citizens and advancing national development. This must go hand-in-hand with the beneficiation of natural resources, with the firm
position that all resources must contribute to technology transfer, creation of employment and upliftment of communities,” sha said.She said Rössing Uranium has played a significant role in contributing to the economy.
“ I wish to comment the management team and the majority shareholder China National Uranium Corporation (CNUC) for your hard work and dedication that has led to the remarkable financial achievements we are celebrating today. Your commitmentto excellence and your ability to adapt to ever-changing market conditions are commendable,” she said.
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