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Energy & Science

Uranium Investors Await Price Rally to Revive Namibia Projects

  • Investors waiting for prices to top $65/pound, minister says
  • Namibia is investing in water facilities to lure miners

Namibia’s finance minister said uranium miners are waiting for prices to recover before reviving projects in Africa’s biggest producer of the ore, which is needed for nuclear power in a world shifting away from fossil fuels. 

The semi-arid southwest African nation is investing in water facilities and is planning a second desalination plant to supply mines in the dry Erongo region in anticipation of higher uranium prices attracting investors, according to Finance Minister Ipumbu Shiimi.