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Article: Investors court Namibia amid uranium boom.(WORLD)
- Article from:
- National Catholic Reporter
- Article date:
- September 19, 2008
- Author:
CopyrightCOPYRIGHT 2008 National Catholic Reporter. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The worldwide scramble for energy sources as a result of dwindling fossil fuel reserves has placed renewed emphasis on nuclear energy as a solution for future needs. As a result, Namibia in southwestern Africa is experiencing a uranium boom and international investors are lining up to get pieces of the action.
With around 3,800 tons of annual production, Namibia is the world's sixth largest uranium producer, accounting for 7 percent of world uranium production.
Spot prices doubled in 2007, reaching $136 per pound but recently leveling at around $82 a pound.
More than 40 foreign companies have obtained exclusive prospecting licenses from ...
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Encyclopedia entry: Namib Desert
World Encyclopedia;
249 words
...Namib Desert Coastal desert region of Namibia, between the Atlantic Ocean and the interior plateau. It has less than 1cm (0.4in) of rain a year and is almost completely barren. Diamonds are mined. Length: c. 1900km (1200mi).
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