Tuesday, July 26, 2005

Namibia Uranium Production @ 188ppm UOx


Rössing Uranium Still Up-Beat Over 2005 Production

Namibia Economist (Windhoek)
July 25, 2005
Posted to the web July 25, 2005

Rio Tinto's Rössing Uranium Mine has reiterated that production for this year will be increased to 3800 tonnes of uranium oxide to counteract the negative impact of the weak US dollar in which Rössing's uranium is priced.

"Planning for the future will continue. Although the official long-term plan foresees closure in 2009, options are being actively pursued to expand the life of the mine to 2017. Marketing efforts are continuing to secure sales for the expansion phase", says a stakeholders' report released this week. Also, a large number of other initiatives are planned and targets have been set for 2005. Managing director Michael Leech says the market price of uranium oxide (or 'yellow cake') increased during 2004, balancing out the continued US dollar weakness that impacts on the mine's earning.

"Although the company made a loss for a second year running, it was minimised by our increased production rate to a level not achieved for more than ten years," says Leech.

In 2004, the life plan of the mine forecast closure in 2009. Leech says the objective of Rössing is to develop and expand its capacity to deliver value to shareholders and local stakeholders for the long term and extend the life of the mine. Rössing operates a large open pit uranium mine located in the Namib Desert close to the town of Arandis. The mine produces uranium oxide for use in the generation of electricity at nuclear power utilities throughout the world.

During 2004, the mine processed 19 million tonnes of rock to produce 3582 tonnes of uranium oxide, compared with 2401 tonnes in 2003. Rössing has contributed up to 10% of the country's gross domestic product (GDP) and up to 26% of Namibia's export earnings annually throughout its 28 years of operation. Last year, Rössing produced about 7.7% of the world's uranium up from 6% in 2003.


3582 TUOx / 19 mT rock = 0,000188 = 188 ppm

7% of world uranium production is @188ppm

(May be it is even lower, as this calculation is for Oxide, not pure uranium)


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