Chamwe Kaira
Namibia’s diamond, uranium, zinc and gold production showed mixed results in the third quarter of 2025, reflecting weak market conditions, operational challenges and shifting prices, according to the Bank of Namibia’s (BoN) third quarter 2025 quarterly bulletin.
Diamond production fell both year-on-year and quarter-on-quarter. Output reached 442 012 carats, a 3.5% drop from a year earlier and a 15.3% decline from the previous quarter.
BoN said the fall followed deliberate production cuts, mainly at Debmarine Namibia, in response to weak global demand.
Lower diamond prices, growing competition from lab-grown diamonds and high inventory levels weighed on the sector.
Uranium production rose on an annual basis but declined compared to the previous quarter. Output totalled 2 450 tonnes, up 2.8% year-on-year, supported by improved ore grades, reduced downtime and better mining technology.
Quarter-on-quarter, production fell by 9.7% due to lower-grade ore linked to strip-mining activities.
The average international uranium spot price declined to US$76.3 per pound from US$81.6 per pound a year earlier, reflecting adequate global supply, geopolitical uncertainty and trade tensions.
Prices, however, increased by 5.1% from the previous quarter, supported by renewed political support for nuclear energy in the United States.
Zinc concentrate production dropped sharply year-on-year but improved slightly quarter-on-quarter. Output stood at 15 027 tonnes, down 23.5% from a year earlier, mainly due to difficult mining conditions and flooding at extraction sites.
Compared to the previous quarter, production increased by 3.1%, supported by base effects and improved ore grades.
International zinc prices averaged US$2,828 per metric tonne, rising 1.9% year-on-year and 7.1% quarter-on-quarter, driven by tighter global supply, mine disruptions, low inventories and higher demand.
Gold production declined on both an annual and quarterly basis. Output reached 2 421 kilograms, down 6.6% year-on-year and 4.5% quarter-on-quarter, reflecting lower-grade ore and resource depletion.
Despite lower output, international gold prices strengthened, averaging US$3,459 per ounce. This was a 39.5% increase year-on-year and a 5% rise quarter-on-quarter, supported by global financial market uncertainty, safe-haven demand and increased purchases by central banks.
In agriculture, cattle marketed fell sharply compared to a year earlier but increased slightly from the previous quarter.
A total of 58,054 head of cattle were marketed, down 43.6% year-on-year but up 3.5% quarter-on-quarter. The annual decline was linked to farmer restocking and disruptions to live exports following foot-and-mouth disease outbreaks in South Africa.
Beef producer prices remained firm at N$69.06 per kilogram, up 19.9% year-on-year and 5.4% quarter-on-quarter. Weaner prices also increased to N$31.12 per kilogram, supported by lower auction volumes and improved grazing conditions.
Small stock marketing declined on both an annual and quarterly basis. Volumes fell to 154,019 head, a drop of 33.9% year-on-year and 32.4% quarter-on-quarter.
The Bank of Namibia attributed the decline to restocking by farmers, which reduced abattoir throughput and limited exports. Sheep producer prices increased compared to a year earlier but declined from the previous quarter, averaging N$58.23 per kilogram, reflecting low supply and steady demand.
Milk production increased both year-on-year and quarter-on-quarter, reaching 4.8 million litres in the third quarter. Output rose by 13.8% year over year and 17.7% quarter over quarter, supported by favourable weather, larger herd sizes and improved production technologies.
Local crop production also increased during the quarter, rising to 34 487 tonnes. This marked a 0.9% increase from the previous quarter and a strong improvement year-on-year, driven by high rainfall and increased investment in irrigation-based farming, especially white maize and pearl millet.
Caption
Diamond, uranium, zinc and gold production recorded mixed performance in the third quarter.
- Photo: Contributed
