PRETORIA, March 16. /TASS/. Russia and Namibia are considering a series of joint projects, one of which involves the development of uranium deposits in Namibia, Russian Deputy Prime Minister Yury Trutnev said.
"Implementing the project [with participation of the Russian nuclear corporation Rosatom's] will fundamentally change the nature of economic relations," Trutnev said at the opening of the intergovernmental Russian-Namibian commission on trade and economic cooperation in Windhoek, the capital of Namibia.
"This decision will increase our trade and economic balance to more than half a billion US dollars per year, create 600 jobs, and generate over $3 billion in direct tax payments over the life of the deposit. I emphasize that we are prepared for more than just uranium mining. We are also prepared to consider joint projects in nuclear energy and medicine. Rosatom has unique experience building plants of varying capacities around the world, including the first to build a floating plant," he added.
Trutnev noted that Rosatom possesses cutting-edge technologies and is a global leader in a number of areas, operating in more than 60 countries.
Rosatom entities are currently working on the Wings project in Namibia. It envisions large-scale exploration and mining of uranium in the Omaheke region in the east of the country. Uranium mining is set to begin in 2029, utilizing the eco-friendly in-situ leaching (ISL) method. The facility is expected to be one of the largest in the world.
Namibia ranks third globally in uranium production. In 2024, the country produced 7,300 tons, or 12% of the global total. Namibia also ranks fifth globally in uranium reserves, accounting for approximately 8% of the total (500,000 tons).