(Ecofin Agency) - Niger is no more Africa’s top uranium producer since 2016. That year, it was taken over by Namibia. Both countries currently record new projects in this sector, a movement spurred by the global surge in uranium prices. 

Namibia’s Langer Heinrich uranium mine has started production. The project’s owner, Paladin Energy, disclosed the news on April 2. The move should consolidate the country’s position as Africa’s biggest uranium producer, and the third worldwide. 

Paladin announced today that uranium concentrate production and drumming were achieved at the Langer Heinrich Mine on 30 March 2024. Focus will now shift to production ramp-up and building a finished product inventory, ahead of shipments to customers. https://t.co/8HfmWQwlGg pic.twitter.com/9nvYetM3GU

— Paladin Energy (@Paladin_Energy) April 1, 2024

Paladin Energy has not provided its production forecasts for the mine, yet. However, the mine's resumption hints at a total production of 77 million pounds over a 17-year lifespan, with an annual peak of 6 million pounds.

“Achieving first production at the Langer Heinrich Mine is an important milestone for Paladin.  With a return to production, a strong balance sheet, and supportive uranium fundamentals, Paladin is exceptionally well positioned to generate sustainable returns for all our stakeholders,”  said Ian Purdy, CEO of Paladin.

The Langer Heinrich mine was placed on care and maintenance in 2018 due to low uranium prices. The project resumes amidst a hike in global prices. The latter doubled in the past three years, peaking at over $100 per pound in January 2024. This increase is attributed to the long-term global demand growth for uranium, driven by renewed interest in nuclear energy. Niger, the world’s seventh biggest producer, should surf this wave by developing new mines, including Dasa and Madaouela.

Emiliano Tossou