Report Coverage
This report on Namibia’s mining industry covers the country’s mineral resources, exploration and mining activities, exports, demand, and growth prospects. It provides information on industry investments and developments, notable players, corporate actions, regulatory developments, and influencing factors, such as the economic environment, labour, technology, input costs and environmental issues. The report profiles 23 companies, including De Beers Marine Namibia (trading as Debmarine Namibia), Namdeb Diamond Corporation, B2Gold Namibia, Rossing Uranium, Langer Heinrich Uranium, Swakop Uranium, and Sinomine Tsumeb Smelter.
Introduction
• Namibia’s mining and quarrying industry recorded a 3.6% contraction in gross value added (GVA) in 2024, declining to N$32.6bn from N$33.8bn in 2023, according to the Chamber of Mines of Namibia.
• The sector’s contribution to GDP declined to 13.3% in 2024, from 14.8% in 2023.
• Much of the decrease was driven by a long-term decline in diamond production due to lower global demand and an increase in laboratory-grown diamonds.
• The decline was partly offset by increases in uranium and gold production, which now rank as Namibia’s largest and third-largest mined minerals respectively, with diamonds slipping to second place.
• Significant exploration activity is underway, and several new mines are expected to commence operations in the near future.
• Growing demand for uranium, rare earths, and critical metals such as tin, copper and lithium, coupled with higher gold prices, is expected to sustain exploration momentum.
• While Namibia remains one of Africa’s most attractive mining destinations, there is some uncertainty over a government proposal to take a 51% stake in new mining ventures.
• A further concern is the export prohibition on unprocessed critical minerals, introduced in 2023, requiring exporters to obtain special ministerial approval for limited shipments.
Trends
• Declining diamond royalties and export earnings have been largely offset by growing earnings and royalties from other minerals.
• Diamond production and revenue is declining due to lower prices and competition from lab-grown diamonds.
• Exploration is growing, driven largely by prospecting for uranium, base metals (like copper, tin, lithium and rare earths) and gold.
• Higher gold prices are driving revenue from gold mining, with a third gold mine expected to open soon.
• Mining value added, while declining slightly in 2024, has grown strongly over the last three years on the back of stronger uranium demand and higher gold prices.
• Namibia could add a fourth and fifth uranium mine in the near future, with global demand for uranium forecast to grow as more nuclear power stations are commissioned.
• Strong focus on the beneficiation of critical minerals.
• The supply of renewable energy to mines.
Opportunities
• Demand for critical minerals is increasing rapidly as the global energy transition advances.
• Gold production, driven by elevated gold prices.
• Uranium mining, driven by increasing demand for nuclear power.
• Western countries want to reduce their dependence on China for critical minerals, especially rare earth elements, and are looking for supplies from other countries.
Challenges
• A large share of the country’s uranium is produced or being explored by Chinese-owned companies, which might be create a geopolitical risk.
• Anglo American’s sale of De Beers raises tough choices for Namibia’s government and its support for diamond mining over growth sectors such as uranium and gold.
• Concern over Namibia’s proposal for the government to take a 51% stake in new mining companies.
• Environmental pressures contribute to rising compliance costs for mines.
• High electricity costs
• Shortage of specialised skills.
• Social impacts such as community disruption and displacement can result in resistance, delays, and further social obligations for mines.
• The country is vulnerable to global commodity price volatility.
• The government’s export ban on processed critical minerals could reduce the mining sector’s attractiveness to investors.
• There is some concern that mining policy development could take a back seat as the government focuses on Namibia's recent oil and gas finds.
• Water scarcity limits the expansion of existing mines.
Outlook
• The energy transition is expected to drive growth in Namibia’s mining sector, particularly through rising demand for gold, uranium, and base metals.
• Mining companies are also looking to Namibia to reduce geopolitical risk by expanding mining of critical minerals away from more politically-sensitive areas of the globe. Demand for these minerals is expected to offset the continued decline in diamond mining.
• The mining sector is growing due to a combination of strong global demand, major new investments, improved operational efficiency, rising exploration activity, and supportive government actions, according to Cliffe Dekker Hofmeyr Namibia.
• While Namibia’s mining industry remains among the most attractive on the continent for investors, recent uncertainty has emerged following the announcement of the government proposal to take a 51% stake in new mining ventures.
• Although it remains uncertain whether the proposal will advance, finalising the Mining Bill is essential to ensure continued investor confidence.
The Mining Sector in Namibia
2026
Full Report
R 20 000.00(ZAR) estimated $1224.35 (USD)*
Industry Landscape
R 14 000.00(ZAR) estimated $ 857.04 (USD)*
Historical Reports
The Mining Sector in Namibia 2023-07-19
R 6 500.00(ZAR) estimated $397.91 (USD)*
View Report Add to CartTable of Contents
[ Close ]| PAGE | ||
|---|---|---|
| 1. | INTRODUCTION | 1 |
| 2. | COUNTRY INFORMATION | 1 |
| 3. | DESCRIPTION OF THE INDUSTRY | 3 |
| 3.1. | Industry Value Chain | 4 |
| 3.2. | Geographic Position | 5 |
| 3.3. | Size of the Industry | 6 |
| 4. | LOCAL | 10 |
| 4.1. | State of the Industry | 10 |
| 4.2. | Key Trends | 25 |
| 4.3. | Key Issues | 26 |
| 4.4. | Notable Players | 26 |
| 4.5. | Trade | 32 |
| 4.6. | Corporate Actions | 34 |
| 4.7. | Regulations | 39 |
| 4.8. | Enterprise Development and Social Development | 39 |
| 5. | AFRICA | 41 |
| 6. | INTERNATIONAL | 42 |
| 7. | INFLUENCING FACTORS | 45 |
| 7.1. | Economic Environment | 45 |
| 7.2. | Labour | 46 |
| 7.3. | Environmental Issues | 48 |
| 7.4. | Technology, R&D and Innovation | 50 |
| 7.5. | Input Costs | 51 |
| 8. | COMPETITIVE ENVIRONMENT | 53 |
| 8.1. | Competition | 53 |
| 8.2. | Ownership Structure of the Industry | 54 |
| 8.3. | Barriers to Entry | 54 |
| 9. | INDUSTRY SUMMARY | 54 |
| 10. | OUTLOOK | 56 |
| 11. | INDUSTRY ASSOCIATIONS | 56 |
| 12. | REFERENCES | 56 |
| 12.1. | Publications | 56 |
| 12.2. | Websites | 57 |
| Appendix 1 | 59 | |
| Summary of Notable Players | 59 | |
| Appendix 2 | 61 | |
| HS Codes Covered | 61 | |
| COMPANY PROFILES | 63 | |
| AFRICAN TANTALUM (PTY) LTD | 63 | |
| ANDRADA MINING LTD | 65 | |
| B2GOLD NAMIBIA (PTY) LTD | 68 | |
| DE BEERS MARINE NAMIBIA (PTY) LTD | 71 | |
| GECKO NAMIBIA HOLDINGS (PTY) LTD | 73 | |
| LANGER HEINRICH URANIUM (PTY) LTD | 75 | |
| LODESTONE NAMIBIA (PTY) LTD | 77 | |
| NAMDEB DIAMOND CORPORATION (PTY) LTD | 78 | |
| NAMIBIA MARINE PHOSPHATE (PTY) LTD | 81 | |
| ONGOPOLO MINING LTD | 83 | |
| ORANO MINING ( NAMIBIA) (PTY) LTD | 85 | |
| OSINO GOLD EXPLORATION AND MINING (PTY) LTD | 87 | |
| OTJOZONDU MINING (PTY) LTD | 88 | |
| QKR NAMIBIA NAVACHAB GOLD MINE (PTY) LTD | 89 | |
| ROSH PINAH ZINC CORPORATION (PTY) LTD | 91 | |
| ROSSING URANIUM (PTY) LTD | 94 | |
| SAKAWE MINING CORPORATION (PTY) LTD | 98 | |
| SALT COMPANY (PTY) LTD | 100 | |
| SWAKOP URANIUM (PTY) LTD | 101 | |
| TRIGON MINING (NAMIBIA) (PTY) LTD | 103 | |
| UIS TIN MINING COMPANY (PTY) LTD | 105 | |
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