The Industrial Development Corporation’s (IDC) planned exit from Rössing Uranium has attracted 35 expressions of interest, signalling strong investor appetite for a minority position in Namibia’s long-running uranium mine.
The South African state-owned financier is seeking to dispose of its approximately 10.2% equity interest after reaching its investment horizon and determining that its continued shareholding no longer aligns with its compliance requirements.
“This process resulted in the receipt of 35 expressions of interest. As at current moment, the process to dispose IDC’s equity interest is still ongoing,” the IDC said in its annual financial results report.
The corporation formally opened the disposal process in January 2026, with prospective investors given until 27 February to submit expressions of interest.
Despite attracting 35 potential investors, the IDC has not disclosed their identities or indicated how many have progressed beyond the initial stage.
It has also not announced a preferred bidder, the estimated value of the 10.2% stake or a timetable for completing the transaction.
The disposal comes as uranium assets have gained increased attention amid growing global interest in nuclear energy and Namibia’s position as a major uranium-producing jurisdiction.
The IDC has also cited sanctions-related compliance concerns as a reason for exiting Rössing, saying the mine’s shareholder base includes entities subject to international sanctions.
“Rössing’s current shareholder base includes entities that are subject to international sanctions, resulting in Rössing being classified as a sanctioned entity under the IDC’s risk and compliance management programme,” the corporation said.
It said maintaining the investment was inconsistent with internal policies and lender requirements governing relationships involving sanctioned parties.
A Namibian parliamentary oversight report recorded China National Uranium Corporation (CNUC) as Rössing’s largest shareholder with 68.6%, followed by the Iran Foreign Investment Company with 15.3% and the IDC with 10.2%.
The Namibian government holds a 3.4% equity stake, while other minority shareholders account for 2.5%.
Despite its relatively small equity position, the Namibian government holds 50.06% of Rössing’s voting rights, according to the parliamentary report.
The eventual sale will introduce a new shareholder into Rössing’s ownership structure, although the size of the IDC stake means CNUC would remain the mine’s controlling shareholder if the other shareholdings remain unchanged.
