Namibia partners with Russia to boost uranium processing industry
Namibia, one of the world's largest uranium producers, has invited Russia to collaborate on its processing. Russia is strengthening its African presence, investing in the oil, gas, and nuclear energy sectors.
Namibia accounts for about 10% of global uranium production, while Russia controls about 40% of the world's enrichment capacity. The African country recognized that with such experience, Russia would help it transition from a raw material seller to a significant global producer of processed uranium ready for use in reactors.
The African country seeks support
The Kremlin is taking advantage of the continent's growing energy demand and disappointment with the West, which demands African countries transition to alternative green energy, which Africa cannot afford. Without making any demands, Russia sent Deputy Prime Minister Yuri Trutnev to Namibia in April, where he discussed utilizing ample uranium resources with Namibia's President Netumbo Nandi-Ndaitwah.
Namibia's expectations are enormous. According to the Namibian Uranium Association (NUA), the country's authorities expect that developing domestic facilities will create jobs for over 5,000 skilled workers in the nuclear sector by 2030. Thanks to domestic uranium refining, tax revenues are anticipated to increase by about CAD 410 million annually. Furthermore, the nuclear industry is expected to attract over CAD 1.65 billion in foreign investments.
Namibia is also encouraged to make changes by the World Bank, which believes uranium refining could quickly move Namibia into the group of upper-middle-income countries.
The Kremlin has its own interest
Russia is not acting altruistically in Namibia. Its ambition is to secure about 25% of the global uranium supply by 2030. Namibia is essential for achieving this plan because it possesses the highest-quality uranium in the world, and neither the country nor its resources are subject to any Western sanctions. These sanctions, following Russia's military aggression in Ukraine in 2022, have disrupted about 60% of Russia's foreign joint investments in the nuclear sector.
Uganda is another African country with significant untapped uranium resources. Russia has already signed a preliminary nuclear agreement with it. The Russian state energy giant Rosatom is currently in talks about nuclear energy development programs with Kenya, Tanzania, Sudan, Egypt, Morocco, Nigeria, Tunisia, and Zambia. Collaboration with African countries helps the Kremlin maintain its position as a global leader in nuclear energy.
