The year 2022 was a good harvest year for China National Uranium Corporation (CNUC). Its operational indicators soared for the third consecutive year and sales volume of natural uranium ranked second globally, with industry competition increasing and market rank advancing. Rӧssing Uranium Limited contributed a significant volume to this remarkable result.
Faced with the negative impacts of the COVID-19 pandemic and the Russia/Ukraine conflict on the supply chain of global natural uranium in 2022, Rössing team did a great job as they identified the risks to the full extent and responded in an appropriate manner. Rössing produced 2659 tons U3O8, realising an outstanding sales target with profit doubling year-on-year.
Rössing implemented the Life of Mine (LoM) Feasibility Study and completed the water reservoirs projects within the given timeline, thereby enhancing the continuity and stability of production and laying a more solid foundation for the sustainable development of the mine. The overall operational indicators have improved, not only because the uranium market condition improved, but also due to the positive results arising from the continuous improvement in optimisation implemented by the Rössing team.
Despite the above-mentioned achievements, we still need to realise that external risks will continue to disturb/threaten the operation. As the major shareholder, we rely on Rössing management to identify risks to the maximum extent, and to pay high attention to risks from power and water shortages and the risks arising from underperforming equipment. Rössing management team need to take timely and effective measures to minimise the negative impact from these risks. Rössing should remain committed to optimising the operation, pursuing the expected production and cost targets in a safe and efficient manner and strive to create more value to its shareholders. Furthermore, Rӧssing needs to facilitate LOME as envisaged, by commencing stripping while concurrently mining Phase II and Phase III, implement processing improvements, and continue to be part of the global uranium providers while contributing to Namibia’s social and economic development.
China National Uranium Corporation Limited
“Rössing Uranium has been in operation for 46 years, and I am confident that with an excellent management team, a highly motivated workforce and support from all stakeholders, it will go on to embrace a brighter future! ”