"The two operating uranium mines in Namibia jointly produced 5,279 tonnes of uranium in 2010, compared to 5,429 tonnes in 2009 -- just below our expectations," announced Robin Sherbourne, group economist at Old Mutual Namibia.

Namibia was the world's fourth-largest uranium producer in 2009, according to the World Nuclear Association.

The country's uranium deposits have drawn growing interest from France, Russia and other countries amid reviving global enthusiasm for nuclear power.

Two mines are currently operational -- one run by British-owned Rio Tinto uranium company and one by Australian uranium company Paladin Energy -- and two more are under construction, including one being developed by French energy giant Areva that plans to start production this year.

Spot uranium prices have risen to 73 dollars a pound this week from 42.50 dollars a year ago.