Windhoek - Namibia's Rössing Uranium, a
Rio Tinto business, said it has managed to navigate "the
worst year of the past decade" for the uranium industry, turning
a 2015 loss into a net profit of 107 million Namibian dollars
($8.2 million) in 2016.
Rössing said on Monday that a combination of favourable
exchange rates and a 48 percent increase in production from
1,245 tonnes of uranium oxide had helped counter the effects of
depressed uranium spot prices, which have rebounded only
modestly since hitting a 13-year low late last year.
Built in 1976, Namibia's first commercial uranium mine
reported a net profit of N$107 million for the financial year
ended December 2016, from a net loss of N$385 million in 2015
and said in its annual report there are no plans to extend the