(3 Minutes Read)
Rössing Uranium Limited (Rössing) significantly increased its local procurement in 2023, investing N$2.86 billion, a N$ 320 million increases from 2022’s N$2.54 billion. It accounts for 74% of the company’s total procurement spending. The overall expenditure on goods and services, which reached N$3.88 billion in 2023 compared to N$3.42 billion the previous year.
As in previous years, the bulk of Rössing’s procurement expenditure was directed towards Namibian suppliers. This strategic choice not only strengthens the local economy but also underscores Rössing’s commitment to fostering sustainable local partnerships, stated the company’s Managing Director Johan Coetzee.
Additionally, Rössing spent N$487 million with South African suppliers (12% of procurement) and N$531 million with international suppliers (14%).
Coetzee emphasised the company’s support for small and medium-sized enterprises (SMEs), saying “Rössing remains steadfast in our support for local SMEs and previously disadvantaged Namibians. In 2023, the company spent N$140 million on goods and services from these groups, up from N$110 million in 2022. Breaking down the Namibian spending, 41% was concentrated in the Erongo region, while 50% was in the Khomas region. The remaining 9% was distributed across other regions, with significant expenditure in the northern region due to a sulphuric acid supply agreement with Dundee Precious Metals in Tsumeb,” said the MD.
In 2023, 57% of Rössing’s Namibian spending came from suppliers with a majority of Namibian ownership, slightly down from 60% in 2022.86% of the total Namibian spending was with suppliers that employed 75% or more Namibians, a slight decrease from 88% in 2022. For expenditures under N$250,000, 67% of the N$594 million spent came from majority Namibian-owned suppliers, and 80% from suppliers employing predominantly Namibian workforces, said Coetzee.
Read Also:
https://trendsnafrica.com/irans-dividend-in-namibian-rossing-uranium-mine-accumulated-to-n331m/
Looking ahead, Rössing’s long-term strategy to identify new sources of ore and extend the life of the mine beyond 2036.2024 will be a pivotal year for Rössing Uranium as we undertake substantial pushback work for Phase 4 and explore new opportunities to extend our mine life.
