Africa-Press – Namibia. <\/strong><\/span>The Ro\u0308ssing Uranium mine is currently offering voluntary separation packages to employees impacted by the appointment of a new mining contractor at the mine. The voluntary packages are being offered until the end of 2026 when Chinese company Beifang Mining is scheduled to take over mining operations.<\/p>\nThe year 2026 is when Ro\u0308ssing Uranium\u2019s current mining operations come to an end, and the Chinese mining contractor will assume operations in extracting uranium from the longest-running open-pit mine in the world.<\/p>\n
A 13-year contract worth N$12.8 billion was signed with Beifang in May 2023, following the board\u2019s approval to extend the life of mine (LoME) to 2036.<\/p>\n
\u201cLoME does not guarantee the continuation of all current jobs beyond 2026, as the operating model and workforce structure required for LoME is different. The transition plan created for the voluntary separation programme is aimed at mitigating impact on potential forced retrenchments post-2027 by affording every impacted employee the opportunity to benefit from the voluntary separation package offered by the company while pursuing other employment opportunities,\u201d said Ro\u0308ssing managing director Johan Coetzee.<\/p>\n
A voluntary separation process is defined as when an employee accepts a departure option from an employer. It is a voluntary decision to mutually separate from the company for whatever reason, but not necessarily due to retrenchment or redundancy.<\/p>\n
Responding to questions from New Era, Coetzee explained that the contractor\u2019s mining solution for LoME is regarded as the most appropriate, based on the most resilient financial option, and is the only non-value destructive option. He stated that Beifang is set to start work in 2024, and will fully run the mining operation from 2027 to 2036.<\/p>\n
The approval of LoME means the mine will continue to operate for an extended 10-year period until ends 2036. \u201cThe alternative would mean mine closure at the end of 2026, where all Ro\u0308ssing employees would be impacted. The good news is that employment and other macro-economic benefits will continue to exist at Ro\u0308ssing beyond 2026,\u201d Coetzee assured.<\/p>\n
Ro\u0308ssing\u2019s total revenue earned in 2022 amounted to N$4.84 billion, compared to N$4.26 billion in 2021, with N$840 million net profit after tax from normal operations, compared to N$193 million in 2021. This resulted in the company declaring a total interim dividend of N$49.7 million in 2022.<\/p>\n
The company\u2019s total production in 2022 was actually lower when compared to 2021. A total of 16.6 million tonnes was mined, compared to 20.7 million tonnes in 2021, with waste and low-grade ore totalling 7.4 million tonnes.<\/p>\n
The lower mining volume was due to a reduction of the stripping ratio of waste to ore as the miner moved deeper into the massive mining pit. A total of 2 659 metric tonnes of uranium oxide was produced in 2022, compared to 2 882 metric tonnes in 2021.<\/p>\n
According to the 2022 sustainability report, Ro\u0308ssing Uranium contributed approximately 4.4% to the world\u2019s primary production during 2022, with Namibia now being the third-largest primary producer of U3O8 globally after Kazakhstan, who continue to dominate the market from a supply side, and Canada. U3O8, also known as Yellowcake, is a uranium concentrate powder recovered from leach solutions.<\/p>\n
For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Maihapa Ndjavera Africa-Press – Namibia. The Ro\u0308ssing Uranium mine is currently offering voluntary separation packages to employees impacted by the appointment of a new mining contractor at the mine. The voluntary packages are being offered until the end of 2026 when Chinese company Beifang Mining is scheduled to take over mining operations. The year 2026 […]<\/p>\n","protected":false},"author":84,"featured_media":49582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-49583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\n
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