2021
AT A GLANCE

 

2,882 tonnes


Production of uranium oxide

Production of uranium oxide for the year was 2,882 metric tonnes compared to 2,489 metric tonnes in 2020.


20.7 million tonnes


Tonnes mined and ore milled

A total of 20.7 million metric tonnes were mined from the open pit (2020:19.4 million metric tonnes) and 9.6 million metric tonnes of ore were milled (2020:8.7 million metric tonnes)


6% lower revenue


Revenue

Revenue was lower than 2020 by 6 per cent, with 11 per cent increase in sales volume year-on-year. Total revenue amounted to N$4.26 billion compared to N$4.52 billion in 2020.


N$193 million profit


Profit for the year

Net profit after tax from normal operations amounted to N$193 million compared to N$443 million in 2020. The impact of the exchange rate, combined with cost pressure, resulted in this reduced net profit.


0.29 AIFR


All-injury Frequency Rate

Confirming our commitment to achieving zero harm, our safety performance improved in 2021. An All-injury Frequency Rate of 0.29 was achieved, against a target of 0.51. This is the best performance the mine has recorded in the past 15 years. No fatalities, permanent disability injuries or significant process safety incidents were recorded in 2021.


Extending LoM


Life-of-Mine Extension project

Funds were made available to conduct a feasibility study to extend the life-of-mine beyond 2026, the current life-of-mine. A project team was appointed to conduct the study, which will be completed by middle of 2022. The LoME project will inform an investment decision by the end of 2022 that will consider several aspects, such as the extension of the current open pit and the Tailings Storage Facility as well as the Processing Plant and infrastructure upgrades.


N$6 million


Investment in training and development

In 2021, a total of N$6 million was invested in internal training and development programmes. This figure includes all training initiatives carried out as part of capacity development.