Higher prices boosted the sales of the Rossing uranium mine by 31% to US$493m in 2010, despite a 13% drop in production. However, increased operating costs, due to the mining of lower-grade ore and dearer electricity, reduced pre-tax earnings by over two-thirds and turned last year's substantial net profit into a net loss. A contributory factor will have been the first full year of Rossing's increased royalty payment of 6%, double the normal rate for uranium mines, which came into effect in mid-2009 (April 2010, Economic performance). This is levied as a fixed proportion of gross sales, and is payable irrespective of profitability.

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