NAMIBIA, the world’s third-largest uranium producer, will launch talks in 2025 to develop its first nuclear energy plant, aiming to unlock its mineral wealth and secure energy independence, President Netumbo Nandi-Ndaitwah announced Thursday.
Delivering her first State of the Nation address since assuming office last month, Nandi-Ndaitwah said the country’s vast uranium reserves offer a strategic opportunity to power its future and transform its economy.
‘While I am not in a position to tell you when we will have a nuclear energy power plant in Namibia, I can assure you that the discussions will certainly begin during the 2025 financial year,’ she told Parliament, as reported by AFP.
According to the World Nuclear Association, Namibia’s uranium mines could supply up to 10 percent of global demand for the fuel used in nuclear power production.
From imports to energy independence
Namibia has long explored the potential for nuclear power as part of its energy mix, especially since the country remains heavily dependent on electricity imports from South Africa. The decision to begin nuclear energy talks signals a shift toward greater energy sovereignty.
The president also revealed that oversight of the oil and gas sector would now fall directly under her office, citing the strategic potential of recent discoveries. ‘The oil and gas sector holds the potential to transform our economy in the next five years,’ she said.
Plans are also underway to construct Namibia’s first oil refinery — a critical step in capturing more value from upstream investments and supporting domestic energy supply.
Economic transformation and mining potential
The announcement comes as Namibia faces mounting economic pressure. Unemployment remains close to 37 percent, while economic growth is forecast to slow to 3.8 percent in 2024 from 4.2 percent in 2023.
Nandi-Ndaitwah acknowledged that while mining contributes 12 percent to GDP and over half of the country’s foreign exchange earnings, it still falls short of its full potential.
Strategic minerals in global spotlight
Beyond uranium, Namibia is rich in lithium, cobalt, graphite, manganese, and rare earth elements — all of which are critical to the global clean energy transition.
‘We must not only export minerals but also process them here at home. We must position ourselves across the full value chain,’ the president said, signalling a stronger focus on local beneficiation and industrialisation.
With global interest intensifying around critical mineral supply chains and clean energy investment, Namibia’s new direction on nuclear power and energy strategy marks a defining moment in its development agenda.
