In what was a very tough year for the uranium mining industry, Rio Tinto subsidiary Rössing Uranium, which operates in Namibia, swung to a profit of N$107-million in 2016, from a loss of N$385-million in 2015. In the company’s ‘Report to Shareholders 2016’, MD Werner Duvenhage said the year was “widely labelled the worst year of the past decade for the uranium industry”, with the spot price having dropped by 50% between January and November.
