Africa-Press – Namibia. The Chamber of Mines of Namibia says gold prices are expected to remain supportive, with levels forecast to stay high by historical standards.
“This should sustain strong margins at operating mines and encourage further investment in mine-life extensions and new project development, reinforcing gold’s role as a key non-diamond contributor to export earnings and government revenue,” the chamber says in its mining update for November and December 2025.
The chamber says copper and tin are emerging as potential upside commodities. Copper demand is supported by global electrification, renewable energy investment and infrastructure expansion.
Tin continues to benefit from strong demand from electronics and energy-transition technologies amid constrained global supply.
“These trends are expected to stimulate exploration and improve the commercial viability of current and prospective projects in Namibia,” the chamber says.
The chamber adds that the diamond sector is likely to remain subdued in the near term, with recovery dependent on a rebound in global consumer demand and the normalisation of inventories.
It says ongoing production discipline and possible policy support measures may help stabilise the sector over the medium term.
In 2025, strong performance from uranium and gold helped sustain export earnings, fiscal revenues and investor confidence, while the diamond sector remained under pressure due to weak global demand.
Uranium emerged as one of the sector’s strongest performers during the year, supported by higher global demand linked to the revival of nuclear energy and long-term contracting by utilities.
Swakop Uranium and Rössing Uranium remained key contributors to production. Langer Heinrich Uranium advanced towards nameplate capacity, supporting medium-term supply growth.
At the development stage, Bannerman Energy continued to progress the Etango project, while Reptile Uranium moved closer to a final investment decision on the Tumas project.
The gold sector provided an important stabilising influence in 2025, supported by record-high international gold prices.
Operating mines, including B2Gold’s Otjikoto Mine and QKR Namibia’s Navachab Gold Mine, delivered strong export revenues and fiscal contributions. Higher prices improved profitability, supported mine-life extensions and increased interest in new developments.
Progress on the Twin Hills Gold Project points to a growing pipeline that is expected to lift Namibia’s gold output over the medium term.
In 2025, weak consumer demand, high midstream inventories, and cautious retailer purchasing led to a decline in global diamond prices.
These conditions led to lower production and export earnings in Namibia. Namdeb and Debmarine Namibia, in line with De Beers’ broader strategy, implemented production restraint measures to align supply with market conditions and protect long-term asset value.
“Growth in uranium and gold partially offset diamond sector weakness, contributing to a more diversified mineral revenue base. Non-diamond mineral royalties and taxes increasingly supported government revenues, underscoring the growing importance of energy-transition minerals and precious metals to the national economy,” the chamber says.
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