The United States is exploring avenues to boost its uranium imports from Namibia, which is the world's third-largest producer of the nuclear fuel. This push is driven by the anticipated surge in demand for civilian nuclear plants, crucial for powering the hyper-scale data centers required by artificial intelligence technologies, according to John Giordano, the US Ambassador to Namibia.
Giordano stated that "uranium here is the big prize for both our countries" and that the US is "very much interested in the prospect of importing that uranium." In 2024, the US imported 633 metric tons of uranium from Namibia, significantly less than the amount China shipped. To increase supply, the US plans to support greater output through its mining companies and government financing, potentially by developing new mines, given that Chinese companies currently dominate Namibia's uranium production.
Beyond uranium, the US aims to deepen its partnership with Namibia, focusing on investment and energy. This includes expanding US investment in Namibia's offshore oil and gas sector, which has seen an increase in activity from companies like Chevron Corp., Exxon Mobil Corp., Baker Hughes Co., and Halliburton Co. since oil was discovered in 2022. The US also intends to mobilize capital for critical mineral exploration, infrastructure, and value-added industrial projects, with financing institutions such as the Development Finance Corporation, the Export-Import Bank of the United States, and the U.S. Trade and Development Agency expected to provide support.
Namibia's strategic location along a logistics corridor connecting its port of Walvis Bay to the copperbelt region in the Democratic Republic of Congo and Zambia makes it an attractive partner. The US government is already backing critical minerals supply chains in the Congo, and similar efforts are being explored to build out a "southern African energy corridor." Ambassador Giordano emphasized that Namibia's approach to natural resources and its efforts to link mineral extraction with processing and infrastructure development are creating an environment that attracts serious capital and offers certainty and reliability for investors.
