{"id":69586,"date":"2024-05-24T16:07:43","date_gmt":"2024-05-24T16:07:43","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/alweendo-energy-transition-requires-critical-mineral-sectorminister-proposes-leveraging-namibias-scarce-natural-resou"},"modified":"2024-05-24T18:24:50","modified_gmt":"2024-05-24T18:24:50","slug":"alweendo-energy-transition-requires-critical-mineral-sectorminister-proposes-leveraging-namibias-scarce-natural-resou","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/alweendo-energy-transition-requires-critical-mineral-sectorminister-proposes-leveraging-namibias-scarce-natural-resou","title":{"rendered":"Alweendo: Energy transition requires critical mineral sector\u2026minister proposes leveraging Namibia\u2019s scarce natural resou"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Mines minister Tom Alweendo believes Namibia is in an opportune position to leverage her natural resources such as critical minerals to enhance economic complexity.<\/p>\n

As such, the minister said it is Namibia\u2019s objective to establish a critical mineral sector to create jobs throughout the entire value chain, starting with exploration, mining, processing and manufacturing.<\/p>\n

Alweendo was speaking at a public discussion organised by the Economic Association of Namibia under the theme, \u2018Optimising Economic Returns: The Role of Critical Minerals\u2019. Wednesday\u2019s discussion was conducted in partnership with FNB Namibia and the Hanns Seidel Foundation.<\/p>\n

\u201cWe recognise that achieving our vision will be challenging. We will need to attract the right investment into our country, and we will need to create a critical minerals sector that is globally competitive. It is for this reason that over the last two years, we have stepped up our international engagements in creating an awareness of Namibia as an attractive investment destination.<\/p>\n

Our efforts so far have yielded good results and we will continue to intensify our global outreach,\u201d said Alweendo. He added the fact that Namibia is endowed with many of<\/p>\n

these critical minerals must count for something.<\/p>\n

\u201cWhile we have noted an increase in the global demand for critical minerals, we are also aware that the global supply is faced with some risks. For example, the global market for some of the critical minerals is not as well- established, unlike the traditional commodity markets such as for gold or diamonds,\u201d he added.<\/p>\n

The minister noted that his ministry has begun looking at whether the current known deposits of critical minerals are nearly enough to satisfy global demand, or whether the known technology to extract these minerals is as efficient to satisfy the increasing global demand. He said some of the critical minerals could also assist Namibia in reimagining its economy through green industrialisation.<\/p>\n

\u201cOur green hydrogen strategy is a bold initiative, and we are convinced it is a critical step in shifting toward a green and modern global economy. For example, we are studying how the clean molecules we will produce can be used to add value to our iron ore, or indeed be used to produce fertiliser for the region,\u201d said the minister.<\/p>\n

Last year, Cabinet resolved to prohibit the exportation of Namibia\u2019s critical minerals in raw form in a bid to create more local jobs through local value-addition.<\/p>\n

This decision applies to materials such as unprocessed crushed lithium, graphite, cobalt, manganese and rare earth elements. Cabinet, nonetheless, approved that smaller quantities of these minerals may be exported at the direction of the mines and energy ministry.<\/p>\n

Local value-addition remains a challenge for Namibia, where the majority of its natural resources are still being exported in raw or minimally-processed forms. This, pundits argue, continues to create valuable jobs in other countries. Meanwhile, Namibia has received offers to help establish a mineral beneficiation sector, amid increased global competition for rare earth minerals, driven particularly by an expanding electric vehicle (EV) industry.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Mines minister Tom Alweendo believes Namibia is in an opportune position to leverage her natural resources such as critical minerals to enhance economic complexity. As such, the minister said it is Namibia\u2019s objective to establish a critical mineral sector to create jobs throughout the entire value chain, starting with exploration, mining, processing […]<\/p>\n","protected":false},"author":84,"featured_media":69585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-69586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nAlweendo: Energy transition requires critical mineral sector\u2026minister proposes leveraging Namibia\u2019s scarce natural resou - Namibia<\/title>\n<meta name=\"description\" content=\"Mines minister Tom Alweendo believes Namibia is in an opportune position to leverage her natural resources such as criti ...\" \/>\n<meta name=\"robots\" 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