CAPE TOWN, Feb 8 (Reuters) - Namibia’s mines and energy minister expects the country’s flagship uranium mine, the $2 billion Chinese-backed Husab project, to reach full output by August following delays last year due to a fire at its processing plant.
“We expect them to reach full production within six months,” Obeth Kandjoze, Minister of Mines and Energy, told Reuters at an African mining conference.
He said there had not been a “flurry” of activity after a decade-long moratorium on uranium exploration was lifted last month, but predicted a global recovery of uranium prices amid a slew of new reactor projects worldwide.
Kandjoze added that Olso-headquarted BW Offshore will pay $10.2 million to Namibia’s national oil company for a 56 percent farm-in stake in the Kudu gas development, seen as a key future power source to the southern African country. (Reporting by Wendell Roelf; Editing by James Macharia)