Leonardville uranium project under fire
The Stampriet Aquifer Uranium Mining Association (SAUMA) has strongly challenged claims that Russia’s state nuclear agency, Rosatom, plans to invest up to US$500 million in developing the Leonardville uranium deposit, warning that the figures cited publicly are not supported by any proven ore reserve data.
SAUMA’s response follows an article published in Market Watch on 19 January 2026, which reported that Rosatom intended to develop the Leonardville deposit through its Namibian subsidiary, Headspring Investments, targeting annual production of 3,000 tonnes of uranium over a mine life exceeding 25 years.
According to SAUMA, such production claims would require a proven recoverable ore reserve of at least 75,000 tonnes of uranium. “Most mines only recover about 80% of the ore that has been discovered,” the association stated. “This means the proven reserve must be almost 100,000 tons.”
SAUMA argues that no such reserve has ever been demonstrated publicly in Namibia. “No detailed geological or ore grade information has ever been made public in Namibia to prove that it will be possible to mine the Leonardville deposit at a rate of 3,000 tons uranium per year over 25 years,” it said.
SAUMA dismisses studies undertaken
Citing the Joint Report by the Nuclear Energy Agency and the International Atomic Energy Agency, Uranium 2024: Resources, Production and Demand (NEA No 7683, OECD 2025), SAUMA pointed to the only published resource figure for the Leonardville area. “On page 406, the reasonably assured resource for in situ leaching of a sandstone uranium deposit (i.e. Leonardville – the only one in Namibia) is given as 14,829 tons. At an 80% recovery rate, this reduces to 11,863 tons.”
“This is the only published ore reserve at Leonardville that has any level of confidence to it,” SAUMA said, adding: “There is simply no proof that the Leonardville deposit could be mined at a rate 3,000 tons uranium per year over 25 years. Those numbers are a fictitious and highly deceptive carrot.”
SAUMA further warned that any approval to continue mineral exploration in the Stampriet Artesian Basin would have severe consequences. “Any approval to continue with mineral exploration in the Stampriet Artesian Basin will be a disaster for agriculture in that region and in the wider Namibian economy,” it said, citing scientific findings presented in numerous SAUMA presentations.
Rosatom eyes N$9.4bn uranium investment in Namibia
Rosatom plans to invest up to US$500 million (about N$9.4 billion) in a long-term uranium project in Namibia, targeting annual production of 3 000 tonnes of uranium and a mine life of more than 25 years, as Russia and Namibia advance talks on cooperation in uranium development and the peaceful use of nuclear energy, Market Watch reported recently.
Headspring Investments, has for years sought to conduct in-situ recovery (ISR) mining near Leonardville in the Omaheke Region. The company says the method - pumping a leaching solution through uranium-bearing sandstone to dissolve and extract the mineral - is environmentally safe and used successfully in countries such as Kazakhstan and the United States.
Russia’s state nuclear agency said a Namibian delegation led by international relations minister, Selma Ashipala-Musavyi met with Rosatom officials in Moscow this week to discuss preparations for an intergovernmental agreement on nuclear cooperation. The talks covered uranium exploration, mining and broader collaboration in atomic energy. “We plan to complete exploration work in 2026 and start uranium mining in 2029, with a mining period of more than 25 years. “The estimated investment in the project is up to US$500 million (about N$9.4 billion), and the annual production is 3,000 tonnes of uranium per year,” Rosatom told Sputnik. The proposed uranium project would position Russia as a significant player in Namibia’s uranium sector, which is already among the largest globally. Namibia is currently the world’s third-largest uranium producer and hosts primary operations including Rössing, Husab and Langer Heinrich.
Discussions ongoing
The Moscow meeting follows earlier engagements between the two countries on nuclear cooperation. In 2025, Namibia confirmed it was exploring the development of its first nuclear power plant as part of a long-term strategy to improve energy security and reduce reliance on electricity imports. Southern Africa currently has only one operational nuclear power plant, South Africa’s Koeberg facility. Discussions on nuclear collaboration gained momentum last year when President Netumbo Nandi-Ndaitwah and Russian deputy prime minister Yury Trutnev met to explore expanded atomic energy cooperation. These talks focused on leveraging Namibia’s uranium resources and developing downstream atomic capabilities.
