Africa-Press – Namibia. President Netumbo Nandi- Ndaitwah said Namibia’s mining sector continues to drive the country’s economy, despite facing global challenges and a slight industry slowdown in 2024.
In a speech delivered on her behalf at the annual Mining Expo in Windhoek, the President described the sector as “the bedrock of our economy,” highlighting its strong performance over the past year.
The 12th edition of the Mining Expo is hosted under the theme ‘Mining for Namibia’s Future: Job Creation, Local Empowerment and Economic Transformation’.
The three-day event reflects its growing role as a national platform for dialogue, investment and innovation in the mining sector.
In 2024, the mining industry brought in N$52.3 billion in revenue, contributed 13.3% to Namibia’s gross domestic product, and added more than 2 600 new jobs.
This brought the total direct employment in the sector to 20 843 – a 14.6% increase compared to 2023.
“Despite significant global headwinds, our mining sector continues to support growth and create jobs,” Nandi- Ndaitwah remarked.
The Head of State pointed to the industry’s major role in boosting local businesses. Mining companies spent N$23.94 billion on Namibian goods and services in 2024, nearly half of their total revenue and 62% of total procurement.
“This level of local procurement is a powerful driver of inclusive growth. It supports thousands of Namibian-owned enterprises across the country,” she said.
In addition, the sector contributed N$5.62 billion to the national fiscus through taxes, royalties and levies, despite a decline from the previous year due to weaker diamond revenues.
This includes N$3 billion in corporate taxes, N$2.26 billion in royalties and N$360 million in export levies.
“These achievements are not just numbers. They represent livelihoods, opportunities and the growing confidence in Namibia as a stable and attractive mining destination. They also reflect the sector’s alignment with our broader national goals, particularly the Sixth National Development Plan (NDP6), which prioritises industrialisation, inclusivity and sustainable economic growth,” she stated.
Nandi-Ndaitwah added that investor confidence is clearly reflected in the actions of Chamber of Mines members, who increased their total exploration expenditure by 38.1% in 2024.
This represents a total of N$1.23 billion, a record since independence.
“Among the most promising areas of growth are the uranium and gold sub-sectors, which are rapidly emerging as key pillars of our resource economy. In alignment with the global clean energy transition, many countries have embraced nuclear power as a sustainable and carbon-neutral baseload energy source. This shift has revitalised the uranium market, following more than a decade of subdued prices after the Fukushima incident,” the President said.
She noted that Namibia is currently ranked as the world’s third-largest producer of uranium and is exceptionally well positioned to capitalise on this momentum.
The recent recommissioning of the Langer Heinrich Uranium Mine, along with accelerated developments at the Tumas and Etango uranium projects, signals a new era of growth.
These projects are not only creating jobs and boosting exports but also reaffirming Namibia’s strategic role in the global energy landscape.
Over the past decade, the mining sector has invested N$1.715 billion in corporate social responsibility initiatives and N$1.781 billion in skills development.
Equally commendable is the industry’s commitment to skills development.
In 2024, alone, the sector created 9 437 permanent jobs, with 97% of those positions filled by Namibians.
This is a clear demonstration of the sector’s dedication to building local capacity and empowering our workforce.
These achievements reflect the sector’s alignment with the broader national goals, particularly NDP6, which prioritises industrialisation, inclusivity and sustainable economic growth.
Speaking at the opening, president of the Chamber of Mines George Botshiwe highlighted the sector’s resilience and its alignment with national priorities.
“Investor confidence in Namibia’s mining sector remains robust. Despite global uncertainty, Namibia continues to rank among Africa’s top destinations for mining investment. The Fraser Institute’s latest survey ranked Namibia fourth on the continent, proof of our stability, competitiveness and growing global appeal,” he said.
The 2025 programme includes technical exhibitions, live demonstrations and B2B networking sessions, alongside a one-day conference today.
It will spotlight developments in uranium and gold mining, value addition and industry-led community legacy projects.
Natangwe Ithete, Deputy Prime Minister and Minister of Industries, Mines and Energy, highlighted the sector’s capacity to empower communities and stimulate economic transformation.
He called for a new era of purpose-driven mining, rooted in transparency, local empowerment and national development.
He urged industry stakeholders to go beyond traditional corporate responsibility and ensure that the benefits of Namibia’s mineral wealth reach all corners of society.
“Let us mine not only for profit, but for our people. Our minerals must uplift lives – not just in boardrooms, but in the most remote areas of our country,” he said.
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