Strong performance boosts Rössing
Rössing Uranium this week released its annual stakeholder report, with the mine – which has been in continuous operation for 45 years – boasting better-than-expected production and a new plan for the future.
At the event, managing director Johan Coetzee said the company not only exceeded its safety record last year, but was also able to produce 2 882 tons of triuranium octoxide, 16% more than in 2020.
Despite this, and due to fluctuating exchange rates, the 11% increase in volumes sold could only generate N$4.26 billion in revenue for 2021, compared to 2020’s N$4.42 billion.
This revenue stems from clients in Asia, where 76% of Rössing's production is shipped, with 90% of that heading to majority shareholder CNUC/CNNC from China.
The remaining 24% was shipped to North America, Europe, the Middle East and destinations in Africa.
Dedication and hard work
Coetzee sang the praises of the company's 943 permanent employees for their dedication and hard work, which contributed to the mining of 20.7 million tonnes of rock and the processing of 9.6 million tonnes of ore, he said.
According to the managing director, 99% of the mine’s workforce is Namibian, while a fifth is made up by women.
"We spent N$930 million on salaries and wages, and a total of N$24.7 million was spent on training employees inside and outside the organisation," he said.
Furthermore, in 2021, Rössing spent more than N$3 billion on goods and services, of which N$2.25 billion (75%) was paid to local suppliers, with 14% spent in South Africa and 11% in the rest of the world.
The mine paid N$111 million to government in royalties, Coetzee said, with N$167 million paid as tax contributions for employee salaries. Utilities such as NamWater and NamPower earned N$464.2 million from Rössing, while the company also spent N$14 million on community development last year.
45 years strong
Coetzee said he is proud that Rössing has been able to continue mining for 45 years, and announced that – currently - operations are expected to continue until 2026.
In November 2020, money was availed to conduct a feasibility study for the extension of Rössing’s mining period, which looked at a north-eastern extension of the open pit, and could add another 10 years to the enterprise’s lifespan.
"The project reached a major milestone in July 2021, when the mines ministry extended the validity of our mining licence by 15 years until 2036," he said.
Meanwhile, Rössing completed 48 major construction projects last year, including the construction of a 60 000mᶾ fresh water storage capacity at a cost of N$100 million. In total, the mine spent N$204 million on these projects.
At the celebratory event, board chairman Steve Galloway said Rössing builds on a transparent culture driven by sustainability and the safety of the environment, society and employees and "is moving towards a very positive future”.
At the event, managing director Johan Coetzee said the company not only exceeded its safety record last year, but was also able to produce 2 882 tons of triuranium octoxide, 16% more than in 2020.
Despite this, and due to fluctuating exchange rates, the 11% increase in volumes sold could only generate N$4.26 billion in revenue for 2021, compared to 2020’s N$4.42 billion.
This revenue stems from clients in Asia, where 76% of Rössing's production is shipped, with 90% of that heading to majority shareholder CNUC/CNNC from China.
The remaining 24% was shipped to North America, Europe, the Middle East and destinations in Africa.
Dedication and hard work
Coetzee sang the praises of the company's 943 permanent employees for their dedication and hard work, which contributed to the mining of 20.7 million tonnes of rock and the processing of 9.6 million tonnes of ore, he said.
According to the managing director, 99% of the mine’s workforce is Namibian, while a fifth is made up by women.
"We spent N$930 million on salaries and wages, and a total of N$24.7 million was spent on training employees inside and outside the organisation," he said.
Furthermore, in 2021, Rössing spent more than N$3 billion on goods and services, of which N$2.25 billion (75%) was paid to local suppliers, with 14% spent in South Africa and 11% in the rest of the world.
The mine paid N$111 million to government in royalties, Coetzee said, with N$167 million paid as tax contributions for employee salaries. Utilities such as NamWater and NamPower earned N$464.2 million from Rössing, while the company also spent N$14 million on community development last year.
45 years strong
Coetzee said he is proud that Rössing has been able to continue mining for 45 years, and announced that – currently - operations are expected to continue until 2026.
In November 2020, money was availed to conduct a feasibility study for the extension of Rössing’s mining period, which looked at a north-eastern extension of the open pit, and could add another 10 years to the enterprise’s lifespan.
"The project reached a major milestone in July 2021, when the mines ministry extended the validity of our mining licence by 15 years until 2036," he said.
Meanwhile, Rössing completed 48 major construction projects last year, including the construction of a 60 000mᶾ fresh water storage capacity at a cost of N$100 million. In total, the mine spent N$204 million on these projects.
At the celebratory event, board chairman Steve Galloway said Rössing builds on a transparent culture driven by sustainability and the safety of the environment, society and employees and "is moving towards a very positive future”.
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