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MINING

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).

CONTRIBUTION OF MINING TO NAMIBIA'S ECONOMY IN 2024

NAMIBIA’S MINERAL RESOURCE POTENTIAL

  • Namibia’s vast untapped reserves of critical minerals, including lithium, cobalt, and rare earth elements (November 2024)

  • 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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