Chamwe Kaira
The Chamber of Mines of Namibia says the outlook for the country’s mining sector remains broadly positive, supported by strong global demand for gold and uranium.
In a quarterly report, the Chamber noted that elevated gold prices are boosting profitability and fiscal contributions, while uranium continues to benefit from its critical role in the global energy transition.
“This positive price environment strengthens the investment case for new and advancing projects, such as Bannerman Energy’s Etango-8 uranium development and Reptile Mineral Resources’ Tumas uranium project, while providing favourable conditions for the construction of Osino’s Twin Hills gold project,” the Chamber said.
The Chamber added that these projects, along with the ongoing growth at Andrada’s Uis tin and lithium operations, put Namibia in a good position to be a key supplier of important minerals that help with global clean energy goals and attract investors looking for safe options.
It cautioned, however, that policy uncertainty will test the sector’s resilience.
“In particular, the ongoing debate around proposals for a mandatory 51% local ownership in new mining projects has created a strong sense of unease among investors.”
The Chamber warned that enacting such measures could undermine Namibia’s hard-earned reputation as one of Africa’s most attractive mining jurisdictions.
It stressed that stability in the regulatory environment is critical to preserving investor confidence and ensuring that strong fundamentals in gold, uranium, and battery minerals translate into tangible growth for the sector and the wider economy.
On global markets, the Chamber highlighted risks linked to political interference in the US Federal Reserve, warning that fears of currency volatility pose a challenge for Namibia given the US dollar’s central role in mineral trade.
Namibia’s mining industry has attracted growing interest, boosted by an improved performance in the 2024 Fraser Institute Survey of Mining Companies.
The country’s Investment Attractiveness Index rose by 10 points, from 56 in 2023 to 66 in 2024, lifting its global ranking to 35th out of 82 jurisdictions, up from 42nd out of 86 the previous year.
Regionally, Namibia retained its position as the fourth most attractive mining investment destination in Africa and ranked second on the Policy Perception Index, reflecting its strong regulatory appeal.
The Chamber reported that in August 2025, commodity prices relevant to Namibia showed mixed results.
Gold, copper, tin, and uranium recorded strong and sustained increases, driven by safe-haven demand, industrial recovery, and long-term energy transition trends, while zinc posted a more moderate performance.
The Bank of Namibia has also announced plans to purchase locally mined gold from Navachab and B2Gold after refining at the Rand Refinery in South Africa.
“This strategic move aims to strengthen Namibia’s foreign exchange reserves and provide a buffer against external economic shocks. Discussions are currently underway with Navachab and B2Gold to finalise the transaction details and operational framework for facilitating the purchases through the Rand Refinery,” the Chamber said.
Caption
Visitors during a mining expo.
- Photo: Chamber of Mines of Namibia
