At a Glance
- South Africa’s IDC to sell 10.2% stake in Rössing Uranium.
- Exit ends IDC’s nearly 50-year investment in Namibian uranium.
- Sale targets investors with financial capacity, strategic alignment, governance approval.
Industrial Development Corporation (IDC), a South African premier state-owned national development finance institution, is moving to sell its 10.2% minority stake in Rössing Uranium, a major Namibian mining company.
The decision marks the end of IDC’s nearly five-decade-long investment in one of the world’s largest uranium mines.
In a notice dated January 26, the IDC said it had reached its investment horizon in Rössing Uranium and is now inviting expressions of interest from potential investors to acquire the stake.
Strategic exit from long-term investment
Rössing Uranium, located near Arandis in Namibia’s Erongo region, has operated since 1976 and remains a key contributor to both global uranium supply and the Namibian economy.
The IDC, one of the mine’s founding shareholders, said its exit aligns with its investment strategy of supporting industrial development and then divesting at the appropriate stage.
“The disposal relates solely to the IDC’s 10.2% shareholding and does not affect the broader ownership structure,” the corporation noted. The mine is majority-owned by China National Uranium Corporation (68.6%) and continues to export high-grade uranium oxide globally.
Guidelines for potential investors
The IDC outlined detailed requirements for interested buyers, emphasizing the need to demonstrate financial capacity, strategic alignment, and governance approvals. Submissions should include company background, shareholder details, and evidence of board or committee authorization.
Investors are encouraged to highlight additional factors, such as technical expertise, potential synergies, and empowerment considerations, to strengthen their bids. The IDC did not disclose a valuation for the stake or a timeline for completing the sale.
IDC’s role in African industrial growth
Established in 1940, the IDC is a state-owned development finance institution focused on fostering industrialization, sustainable economic growth, and entrepreneurship across South Africa and the continent.
Its portfolio spans job-rich industrial projects, empowered and black-owned businesses, and strategic sectors including mining, energy, and infrastructure.
By divesting its minority shareholding in Rössing Uranium, the IDC aims to recycle capital into new industrial projects while enabling investors to gain exposure to a globally significant uranium asset.
