Wings of Change: Uranium One’s Ambitious Project Takes Flight at Mining Expo 2024

The 11th Mining Expo and Conference, held in Windhoek, Namibia, from August 7-8, 2024, marked a significant milestone for the country’s mining sector. The event, themed “Green Shoots for Namibia’s Mining Industry: A Season of Opportunity and Growth to Drive Economic Expansion,” broke participation records with 199 exhibitors occupying 317 booths. This surge in participation underscores the growing confidence in Namibia’s mineral potential, reflected by over 1,000 new exploration license applications submitted in 2024.

During her keynote address, Vice President Netumbo Nandi-Ndaitwah called for greater entrepreneurial engagement in nuclear technology production, emphasizing its vast potential across various sectors, including medicine, food, and industrialization. She urged Namibia to explore its local uranium resources more effectively, noting the country’s status as the world’s third-largest uranium producer. Despite this, Namibia still imports about 70% of its electricity, a situation that, she suggested, could be mitigated through the development of nuclear energy. The VP highlighted that Namibia’s uranium exports since the 1970s could power the country over 100 times its annual electricity consumption, yet progress toward nuclear energy has been slow due to economic, technological, and regulatory challenges.

Nandi-Ndaitwah also pointed out the increase in government revenue from mining, which rose from N$4.4 billion in 2022 to N$6.8 billion in 2023, underscoring the mining sector’s critical role in Namibia’s economy.

Amid this promising backdrop, Uranium One, a subsidiary of Russian nuclear technology giant Rosatom, made a significant impact at the expo by unveiling its latest venture – the Wings project. This uranium exploration initiative focuses on a promising deposit located in the Omaheke region, approximately 300 kilometres from Windhoek. With the potential to evolve into a successful in-situ leaching (ISL) mining operation, the Wings project captivated the attention of expo visitors, making Uranium One’s exhibition stand one of the most popular at the event.

The Wings project represents more than just a mining venture; it’s a significant opportunity for Namibia’s economic and industrial growth. The project is expected to create approximately 600 new jobs in the Omaheke region and an additional 4,000 jobs in related industries across the country. In addition, the project will invest $500 million in the Omaheke region, which will generate additional tax revenue of $3.5 billion upon launch.

Uranium One’s involvement at the expo extended beyond showcasing the Wings project. The company engaged in a series of business meetings with representatives from various ministries, agencies, partners, and public organizations. These discussions underscored the critical role of mining in Namibia’s economy and highlighted the significant economic and social benefits that the Wings project would bring to the region and the country.

One of the key advantages of the Wings project is its commitment to environmental sustainability. The ISL mining method, which extracts uranium while leaving the surrounding rock undisturbed, is considered the most environmentally friendly and safe method globally. ISL operations are closely monitored, significantly reducing the risk of groundwater contamination compared to conventional mining methods, with robust containment and recovery systems in place to prevent any leakage or environmental impact.

Since this method minimizes environmental impact, reduces the carbon footprint, and ensures a safer working environment for those involved in the mining process, local farmers and community leaders, such as Leonardville traditional leader Wilhelmina Witbooi, have expressed their support for the project, noting that it is seen as a blessing for the region.

The expo also featured important statements from key industry figures, including Namibia’s Minister of Mines and Energy, Tom Alweendo. He reported a surge in exploration activity, with over 600 new license applications submitted by December 2023 and an additional 400 received since January 2024. Alweendo noted that this influx is a positive sign of growing confidence in Namibia’s mineral resources, which can create jobs, generate government revenue, and significantly boost the economy.

The mining industry’s contribution to GDP increased from 11.9% in 2022 to 14.4% in 2023, with local procurement spending exceeding N$21 billion. He also highlighted the industry’s growth in direct employment, which rose by 12.6% to approximately 18,189 jobs, alongside a notable increase in corporate social responsibility spending.

Namibia continues to position itself as a global leader in mining, projects like Wings are ready to play a pivotal role in driving economic growth, fostering job creation, and ensuring sustainable development for future generations.

Source: Namibia Daily News

https://namibiadailynews.info/wings-of-change-uranium-ones-ambitious-project-takes-flight-at-mining-expo-2024/