Swakop Uranium says its Husab Mine contributed over N$7.9 billion to the Namibian economy last year through local procurement, taxes and social investments.
According to its latest sustainability report, the company has created more than 6,000 direct and indirect jobs, driving economic growth in both the Erongo Region and across the country.
“Our investments in infrastructure and technology have spurred innovation and opened new avenues for economic growth. So far, our Company has injected over N$7.9 billion into the local economy through local procurement, tax and royalties, social investments, etc., helping to drive Namibia’s development,” said the report.
Swakop Uranium reported that it engages with over 400 local suppliers, with 62% of its annual spending in 2023 directed towards Namibian-owned, registered, or state-owned businesses.
“Of this, 9% was allocated to locally owned companies, with a total expenditure of N$723,694,401 on Namibian suppliers, including small and medium-sized enterprises (SMEs),” the company noted.
The remaining annual spending breakdown for 2023 was 26% on Namibian-registered businesses, 27% on state-owned enterprises, 36% on foreign suppliers, and 1% on connected entities.
Sustainable Development Committee member and Epangelo Mining CEO Eliphas Hawala said Swakop Uranium has made significant strides in supporting the country’s National Development Agenda and the Global Sustainability Goals.
“We have actively engaged with the community and government on key issues, aligned to Namibia national goals. We increased our social spending for the 2024-2025 period to ensure that sustainable projects receive the necessary support. For this period alone, we earmarked a total of N$5 million to the Swakop Uranium Foundation, amongst others,” he added.
China General Nuclear Power Group President Gao Ligang said his report showcases how Swakop Uranium is setting the standard for responsible mining.
“From surpassing production targets to pioneering innovations, from environmental stewardship to tackling local water scarcity, from injecting economic vitality into Namibia to helping vulnerable communities, these accomplishments are a testament to the hard work of the entire Swakop Uranium team,” he said.
Swakop Uranium is a joint venture between the Namibian government, Epangelo Mining and Chinese stakeholders, including the China General Nuclear Power Group and the China-Africa Development Fund.
The company’s flagship project, the Husab Mine, cost US$5 billion to develop and extracted 5,318 tonnes of uranium oxide (U3O8) in 2023, with most of the production destined for the Chinese market.
