In 2018, Namibia had two fully operational uranium mines, including the Husab mine, 90% owned by China's public enterprise, China General Nuclear Power Holding Company and the China-Africa Development Fund. The remaining 10% is owned by Epangelo Mining, a state-owned company.
Rio Tinto entered an agreement to sell its 69% shareholding of the Rössing uranium mine to the China National Uranium Corporation in November 2018. Fitch Ratings projected uranium output growth of 20% in 2018, and forecasts production to increase by 40% over 2019, and 10% over 2020, making Namibia the third-largest uranium producer globally.
There is increased mining sector activity and exports of uranium to countries such as China, where demand for nuclear power is strong while Australia, Canada, France and the United States of America are key players in this field.