Swakop Uranium achieved its highest-ever processing throughput in 2024, averaging 1,720 tonnes, even as electricity expenditure increased to N$534 million from N$516 million, according to the Swakop Uranium Sustainability Report 2024.
The report also shows that water expenditure rose slightly to N$521 million from N$516 million, while water consumption remained stable at nine million cubic metres.
Despite higher costs, Swakop Uranium Chief Executive Officer Luo Wei said the company maintained strong operational performance and reached record mining and processing levels.
“We kept the wheels of industry turning with unrelenting grace this year. Beneath the sky, we reached an all-time high, mining 118 million tonnes of material and completing 100% of planned equipment maintenance,” Luo said.
He added that the processing division achieved an average throughput rate of 1,720 tonnes — the highest in the company’s history.
According to the report, total tonnes mined increased to 118 million from 116 million in 2023, while production output of uranium oxide (U₃O₈) declined slightly to 5,232 tonnes from 5,318 tonnes.
Electricity consumption dropped to 238 million kWh from 251 million kWh, although costs rose due to tariff adjustments. Swakop Uranium’s total workforce grew to 1,676 employees, comprising 219 women and 1,457 men.
“Through cost control, resource optimisation, and strengthened compliance, we achieved a net profit of N$562 million. At the same time, we reduced unit sales costs by 4%. Unit sales cost reflects resilience in the business,” the company stated in the report.
On environmental and safety performance, Luo said the company enhanced its safety systems, reduced incidents, and retained its five-star NOSA certification.
“We continued implementing initiatives such as mural painting, educational lectures, and clean-up campaigns to promote biodiversity and sustainability,” Luo added.
