Namibia’s new uranium projects poised to boost supply

Namibia’s next growth chapter will be driven by new uranium projects nearing development, and several large deposits discovered in the last two decades are now moving toward production. Analysts project that if planned projects proceed, Namibia’s uranium output could grow by 30–40% in the next decade.

Key developments in the pipeline include:

• Etango-8 (Bannerman Energy): a globally significant uranium project with a completed definitive feasibility study. Located near Rössing, Etango-8 is designed as an 8 million tonne-per-year open pit mine (a scaled initial phase of the larger Etango resource). It targets roughly 3–4 million pounds U₃O₈ (1,400–1,800 t) of annual production. Early construction works are already underway, with Bannerman securing power/water infrastructure agreements and completing two A$85 million placements in 2025 to advance the project. A Final Investment Decision (FID) is expected by end-2025, potentially paving the way for first production by 2027.
• Tumas Project (Deep Yellow): a sandstone-hosted uranium project on Namibia’s “Alaskite Alley” trend, Tumas has a completed feasibility study and substantial reserves. It is expected to produce approx 3 million lbs U₃O₈ per year (approx 1,360 t) at full output. Development was initially slated to follow an FID in 2024, but Deep Yellow has temporarily delayed FID pending firm long-term offtake prices. Despite delays, Tumas remains one of most advanced potential new uranium mines globally, and could come online around 2026–2027
• Norasa (Forsys Metals): an integrated project combining the Valencia and Namibplaas deposits, Norasa holds a large uranium resource base (over 77,000 tU in reserves/resources) and a completed feasibility study. It envisions production on the order of 5–6 million lbs U₃O₈ per year (approx 2,300 t), which would rival Rössing’s scale. Permits, including a mining license, are reportedly in place; the project awaits a development decision and financing.
• ReeXploration Inc.:in 2025, Canada-listed ReeXploration announced a major uranium target at its Eureka Uranium project.
• Airborne radiometric surveys over Eureka defined a 6.5 × 3.5 km zone with high uranium counts and low thorium, a signature of primary uranium mineralization. This anomaly sits in the same prolific “Alaskite Alley” structural corridor as Rössing, Husab, Etango, Omahola and Norasa deposits — and hosts a classic signature of primary alaskite-hosted uranium mineralizationn, the same host-rock environment that has delivered decades of production at Rössing and Husab — which collectively contain >1 billion lbs U₃O₈ resources. Early ground-truthing has already confirmed uranium mineralization at surface, with scintillometer readings reportedly reaching 1,500 counts per second and portable XRF values up to 853 ppm U, according to management commentary.
• Follow-up field work at Eureka has confirmed uranium at surface. ReeXploration’s CEO has described the target as “Rössing-style”, underlining the geological and strategic logic behind the play.

Importantly, Eureka’s uranium discovery also adds a compelling diversification angle to ReeXploration’s rare earths portfolio for critical minerals markets