State Atomic Energy Corporation Rosatom has announced plans to start uranium mining in Namibia in 2029 ahead of the Russia-Africa Summit in St Petersburg.
The Company is implementing a uranium prospecting and exploration project in Namibia, where geological studies have discovered a significant deposit of this metal.
As previously reported, the project plans to use in situ leaching (ISL) method, which is currently the primary method of uranium production worldwide.
According to the state corporation, geological exploration work is scheduled to be completed in 2026, and uranium mining will begin in 2029, with the project involving an investment of $500 million and designed to produce three thousand tonnes of uranium per year.
In total, more than 20,000 specialists in related fields will be involved in the implementation of the plan. The project will also increase Namibia’s gross domestic product by one to two per cent annually, as reported by Prensa Latina, a partner of TV BRICS.