METALS, MINING & ADJACENT INDUSTRIES
The mining sector is a key pillar of Namibia's economic development, contributing 14.4% of the GDP and over 50% of export earnings in 2023 (NSA, 2024). The sector recorded 18.9% growth in 2023, underscoring its central role in economic stability and job creation, with over 18,189 people employed.
Namibia is the third-largest uranium and eighth-largest diamond producer globally, with copper, zinc, and gold deposits. Recent exploration has revealed promising lithium, manganese, and rare earth elements (REEs). Leading exploration and mining companies include Andrada Mining, which focuses on tin, tantalum, and lithium, and B2Gold (Otjikoto gold mine), which produces gold. Consolidated Copper Corp and Koryx Copper mine copper, while state-owned Epangelo Mining has broad interests. Gecko Opuwo Cobalt produces cobalt, and Lepidico Chemical Namibia extracts lithium. Navachab Gold Mine (QKR Namibia) produces gold. Northern Graphite Corporation mines graphite. Rossing Uranium is operated by China General Nuclear Power Group (CGN), while Swakop Uranium is run by China National Uranium Corporation (CNUC).
In addition to large-scale mining, Namibia’s small-scale mining sector presents significant potential, particularly in gemstone extraction and processing. High-value semi-precious stones such as tourmaline, garnet, aquamarine, and amethyst offer growth opportunities with the right investment and support. Small-scale miners contribute to rural employment and local economies but face challenges like limited access to modern equipment, capital, and formal markets. Investing in infrastructure and providing technical support could unlock value. Expanding local cutting and polishing of gemstones would increase export value and create jobs. Establishing formal trading platforms and strengthening links to global markets would enhance growth.
Namibia’s investor-friendly policies have created a stable and transparent regulatory environment prioritising economic growth and sustainable mining practices. The country ranked fourth in Africa on the 2023 Fraser Institute’s Investment Attractiveness Index, underscoring its competitive position and appeal for foreign direct investment (FDI). The government’s focus on environmental protection and social responsibility strengthens investor confidence, making Namibia a reliable and ethical partner in the global mining sector.
Namibia’s mining sector remains focused on raw material exports, limiting opportunities for local value addition. Expanding downstream processing and beneficiation for lithium, manganese, rare earth elements (REEs) and uranium presents an opportunity to increase domestic value capture and strengthen industrial growth. Investing in lithium and REE refining infrastructure would position Namibia as a critical supplier for the global energy
transition, supporting battery production and renewable technologies. Developing uranium enrichment facilities could increase the value of uranium exports and strengthen the country’s role in the nuclear energy sector.
Strengthening transport networks, ports, and energy infrastructure would further support local industry growth and integration into global markets. Enhanced processing capacity for critical minerals would increase export value and position Namibia as a key supplier in the worldwide energy and technology markets.
Growth opportunities extend beyond mining dominated by large-scale mining into adjacent industries such as cement, sand, and concrete production. The discovery of oil and the proposed green hydrogen project are expected to drive large-scale infrastructure development, including refineries, pipelines and hydrogen production facilities. This will increase demand for construction materials such as cement, concrete, steel, and specialised building materials. Developing supporting infrastructure—roads, ports and energy transmission networks—will create new opportunities for local industries to benefit from broader industrialisation.
With rising global demand for critical minerals and a supportive investment climate, Namibia’s metals, mining, and adjacent industries present a strategic growth opportunity. Investors can capitalise on upstream extraction and downstream processing, positioning Namibia as a key player in the global resource economy. Enhanced support for small-scale mining and local gemstone processing could unlock further value and diversify the mining sector. Namibia’s resource potential, investor-friendly environment, and infrastructure development initiatives position it for long-term economic resilience and inclusive growth.
