Swakop Uranium has invested N$1.4 billion in exploration over the past seven years as it works to expand Namibia’s uranium resource base and extend the operational life of the Husab Uranium Mine, according to the company’s 2025 Sustainability Report.
The report highlights a sharp increase in exploration spending in recent years, with annual expenditure rising from N$11 million in 2021 to N$131.6 million in 2025. The company has allocated a further N$235.8 million for exploration activities in 2026.
Over the past two years, Swakop Uranium invested N$231.4 million in exploration and completed 122,820 metres of drilling in support of its resource expansion programme.
During 2025 alone, the company carried out around 100,000 metres of reverse circulation and diamond drilling as it sought to identify additional uranium resources to support future mining operations.
The exploration campaign also generated employment, creating 182 jobs across 2024 and 2025 while contributing to the long-term growth of Namibia’s uranium sector.
Alongside exploration, Swakop Uranium is advancing several large-scale projects aimed at boosting uranium production and improving supporting infrastructure.
One of the company’s key developments is a US$300 million heap leach project, which is designed to recover uranium from lower-grade ore and increase annual production by approximately 580 tonnes of U₃O₈.
The company has already invested N$450 million in industrial-scale trials for the project since July 2024.
According to the sustainability report, construction is expected to begin in 2026, with commissioning targeted for the end of 2027. Increased uranium production is expected from 2028, while the project is anticipated to create more than 100 permanent operations and maintenance jobs once fully operational.
Swakop Uranium is also progressing plans for a US$170 million desalination plant that will improve water security in Namibia’s Erongo Region while supporting future industrial growth.
The company said the project is expected to generate more than 1,000 construction jobs and over 100 permanent operational positions.
A joint venture company to develop the desalination plant was established in December 2025. Construction is scheduled to begin in July 2026 following the completion of the tender process, with commissioning expected by the end of 2027. Water production is planned to commence in 2028.
The sustainability report also underscored the company’s growing contribution to Namibia’s economy.
During 2025, Swakop Uranium recorded total procurement spending of N$13.1 billion, including N$9.1 billion directed to local suppliers. Expenditure on local contractors rose to N$6.3 billion, while tax payments to the government totalled N$790 million.
The report further noted that Swakop Uranium generated N$29.2 billion in economic value during 2025 and increased its direct economic value generated to N$1.5 billion, reflecting the company’s expanding economic contribution through local procurement, investment and employment.
