Phase: Execution
Country: Namibia
Owner/Operator(s): Swakop Uranium
Categories: Uranium Mines
Type: Open Pit Mine
Updated: 30 Jan 2013

Project Description

Swakop Uranium’s Husab Project is the largest in-situ, and highest grade, granite-hosted uranium deposit in Namibia, and currently the third-largest uranium-only deposit in the world. The Husab uranium deposit is located approximately 45 kilometres northeast of Namibia’s main port, Walvis Bay, in the same area that holds several world-class uranium deposits and mines, including Rössing Uranium and the Langer Heinrich mine.

Based on a Definitive Feasibility Study (DFS), the Husab Project will be developed  as a large-scale load-and-haul, open-pit mining operation, with ore from the mine feeding a conventional agitated acid leach process plant, at a rate of 15 million metric tons of ore per year. With anticipated annual production of approximately 15,5 million pounds of uranium, the Husab Project would become the second-largest uranium mine in the world.

The Project construction is estimated to take approximately 34 months, with the mine expected to commence production towards the end of 2015.

Engineering and Construction

The Husab Project owner’s team and AMEC completed the definitive feasibility study in April 2011. Following the completion of the feasibility studies, The Husab Project Joint Venture, comprising AMEC and Tenova Bateman were awarded a reimbursable contract in November 2012 for the engineering, procurement and construction management (EPCM). The total contract value is ZAR 822 million (£62 million).

AMEC will act as lead on all Husab Project Joint Venture activities and will hold specific responsibility for project management and engineering, with responsibilities for procurement and construction to be shared with the joint venture partner. 

Ownership and Operations

The Husab project is owned and operated by Swakop Uranium, a wholly-owned Namibian subsidiary of Taurus Minerals Limited, an entity owned by China Guangong Nuclear Power Company (CGNPC) Uranium Resources Co., Ltd. and the China-Africa Development Fund. 

The Husab Project was previously owned by Extract Resources. Extract is almost 43% owned by Kalahari Minerals PLC and 14% by Rio Tinto PLC. Rio also owns an 11.5% interest in Kalahari. Extract and Rio Tinto had previously been in discussions to possibly combine Husab and Rossing, involving ore from the Husab project being processed at the Rossing facilities.

Husab Uranium Project News

ABB Wins Its First Variable-Speed Ring-Geared Mill Drive Order In Namibia

SOURCE: ABB | 11 September 2013

ABB, the leading power and automation technology group, has won an order to provide four dual pinion high-speed ring-geared mill drive systems for the Swakop Uranium Husab mine, in the Erongo region in western-central Namibia.

AMEC Joint Venture Awarded EPCM Contract For Swakop Uranium’s Husab Project, Namibia

SOURCE: AMEC | 21 November 2012

The Husab Project Joint Venture, comprising AMEC, the international engineering and project management company, and Tenova Bateman, has been awarded a reimbursable contract for the engineering, procurement and construction management (EPCM) of Swakop Uranium’s Husab Project near Swakopmund in Namibia.

Australia's Uranex Attracts New Interest In Key Project-Source

SOURCE: Dow Jones Newswires | 13 February 2012

Junior uranium explorer Uranex Ltd., which has previously said it was discussing with potential Chinese partners options to help develop a key project in Tanzania, has attracted further interest from nuclear energy companies in North America and elsewhere in Asia, a person close to the company said Monday.

Extract Resources Starts Funding Talks For US$1.66 Billion Uranium Mine

SOURCE: Dow Jones Newswires | 14 September 2011

Extract Resources Ltd. said Wednesday it has begun talks with potential lenders to its US$1.66 billion Husab uranium project in Namibia, in a major test of financiers' appetites to support new mines in the wake of Japan's nuclear crisis.

Extract Progressing Husab Financing Negotiations

SOURCE: Dow Jones Newswires | 02 September 2011

Extract Resources Ltd. said Friday negotiations to secure funding for its US$1.66 billion Husab uranium project in Namibia, one of the world's largest unmined deposits of the fuel, are progressing well.

Rio Tinto Executive: Rossing Uranium Mine Losing Money

SOURCE: Dow Jones Newswires | 11 July 2011

Rio Tinto PLC's flagship Rossing uranium mine in Namibia is losing money, as the spot price for uranium, the key fuel for nuclear reactors, continues to languish in the wake of Japan's atomic crisis, a senior Rio executive said Monday.

China Guangdong Walks Away From Big Uranium Mining Deal

SOURCE: Dow Jones Newswires | 11 May 2011

China Guangdong Nuclear Power Holding Co. has walked away from a US$1.24 billion deal for Kalahari Minerals PLC, a move that could flush out other suitors caught blindsided by China's largest uranium bid to date.

Extract: Proposed Namibia Mining Policy Won't Hit Husab Project

SOURCE: Dow Jones Newswires | 02 May 2011

Australia's Extract Resources Ltd. said Monday it's confident that proposed changes to Namibia's mining policy won't adversely affect its US$1.48 billion Husab project, one of the world's largest untapped uranium deposits.

Paladin Energy, Extract Resources Seek To Calm Namibia Concerns

SOURCE: Dow Jones Newswires | 29 April 2011

Uranium miners Paladin Energy Ltd. and Extract Resources Ltd. moved Friday to calm investors unsettled by the Namibian government's plans to increase the role of a state-owned mining company in the industry.

Kalahari Minerals In Offer Talks With Third Party

SOURCE: Dow Jones Newswires | 07 March 2011

Kalahari Minerals PLC, a mining and exploration firm, said Monday it is in talks with a third party, which may or may not lead to an offer being made for the entire issued share capital of the Company.

Japanese Companies Eye Namibian Uranium Deposit

SOURCE: Dow Jones Newswires | 03 November 2010

Extract Resources Ltd. (EXT.AU) said Thursday that a recent investment in the company by Itochu Corp. (ITOCY) has spurred significant interest from other Japanese entities in its Husab uranium prospect in Namibia.

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