Rössing Uranium to extend mining operations until 2036

The Rössing Uranium Board has approved the Life of Mine Extension from 2026 to 2036 following the completion of the bankable feasibility study.

"In 2021, Rössing embarked on a feasibility study for the Life of Mine extension to 2036 through the Phase 4 pushback of the existing SJ Pit, fully utilizing the 15-year mining license granted by the Ministry of Mines and Energy in 2021. This provides Rössing with a new lease of life and translates to the continuation of various macro-economic benefits for its stakeholders," said Rössing Uranium MD Johan Coetzee on Friday.

"The objective of the LoME feasibility study was to evaluate and document the technical, practical, and economic feasibility to extend the Rössing Uranium Life of Mine (LoM) beyond 2026 and issue a Feasibility Study Report (FSR) to inform an investment decision by the Rössing Board of Directors."

This comes as the previous majority shareholder, Rio Tinto, was considering early closure in January 2020, despite a formal Life of Mine of 2025.

"The 2019 sale of Rio Tinto's majority shareholding to China National Uranium Corporation (CNUC) created a limited duration preferential offtake agreement at subsidized prices and at a premium to production cost, assuring a positive cash flow and continued operation," he said.

Rössing Uranium, Namibia's first commercial uranium mine started production in 1976 and will be celebrating its 47th year of production this year.

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Last modified on Friday, 24 February 2023 18:01

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