nambia economist

Posted 23/3/07

Russian Prime Minister Mikhail Fradkov said this week that his country is ready to help Namibia develop its uranium deposits to generate nuclear energy in the country, Namibian Broadcasting Corporation (NBC) radio reported.

Fradkov said during a meeting with President Hifikepunye Pohamba last weekend that Russia was prepared to go into joint ventures with Namibia in the development of uranium mines and nuclear energy. Fradkov said Russia was considering the construction of mini-plants and floating nuclear power plants that would use uranium.

“We are quite prepared to avert the looming energy crisis in your country by jointly developing uranium deposits in your country,” said Fradkov.

Pohamba said the development of nuclear energy plants in Namibia would help solve an impending power crisis in the entire southern African region.

Namibia is home to Rio Tinto owned Rossing Uranium and Langer Heinrich, which is owned by Paladin Resources. Pohamba officially opened this mine last week.

Pohamba said, at the opening of the Paladin mine, that Namibia advocates the use of uranium for peaceful purposes in countries to where the country’s yellow cake is exported. He said the country would be willing and ready to explore those options at home.

Namibia, which accounts for about 8% of the world's uranium production, is expected to increase its annual output to between 12% and 14 % with the opening of the Langer Heinrich mine, said Director of Mines in the Ministry of Mines and Energy, Erasmus Shivolo in August last year.

Fourteen firms are currently exploring for uranium in the country.