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Mining Sector

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Mining Overview

  • Economic Contribution: Mining contributed 14.4% to GDP (2023) vs. 11.9% (2022) 18,189 jobs created, mostly for Namibians.

 

  • Investment Attractiveness:  Ranked 4th most attractive mining investment destination in Africa (Fraser Institute, 2023)

 

  • Namibia’s main Mineral resources: Diamonds, uranium, copper, gold, lead, tin, graphite, lithium, cadmium, zinc, salt, vanadium

 

  • Global Mining Rankings:  3rd largest uranium producer globally and 7th largest diamond producer, known for high-quality gemstones.

 

  • Key Commodities & Market Trends: Top performers: Gold & Uranium [Gold price: ↑ 8% YoY (2022-2023); Uranium price: US$50/lb → US$90/lb (Jan–Dec 2023)]

 

  • Mining Regulations & Licensing:

    • Mining rights controlled by the state under the Minerals (Prospecting and Mining) Act, 1992 

    • All Mining Licenses are issued by the Minister of Mines and Energy and administered by the Mining Commissioner. 

    • Exploration led by the private sector

 

  • International miners:  Andrada Mining Ltd, Anglo American plc, B2Gold Co, De Beers Group, China General Nuclear Power Group (CGN).

Large Mining Machine
Open-Pit Mine View

Northern Part of the country mostly rich with;

  • Base and Rare Earth Metals

  • Industrial Minerals

  • Nuclear fuels

  • Precious Stones

  • Cobalt, Iron ore, Sodalite

Central Part of the Country mostly rich with;

  • Copper

  • Lithium

  • Tin & Tantalum

  • Gold

  • Manganese, Graphite, Uranium, Salt, Semi-Precious Stones

Southern Part of the Country mostly rich with;

  • Diamonds (precious stones)

  • Rare earth Elements

  • Copper, Lead, Zinc, Silver

  • Lithium, Tin & Tantalum

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