Chamber of Mines

“Chamber of Mines Chief Executive Officer Fabian Shaanika said 2026 remained a transition year for Namibia's mining sector.”

“The Chamber identified weak diamond-market conditions, elevated operating costs and tighter financing conditions as key risks to future mining development.”

“Chamber of Mines president George Botshiwe says the sector's resilience reflects Namibia's growing mineral diversification, as traditional diamond dependence gives way to increased contributions from uranium, gold and emerging minerals.”

“Chamber president George Botuye said the sector contributed approximately 14% of Namibia's gross domestic product (GDP) during 2025, maintaining its position as the largest contributor within the primary industries.”

“The Chamber of Mines monthly update for March to May, released on Thursday, says Namibia is vulnerable to global uncertainty around oil prices and trade policy.”

“The Chamber said the sector remains strong, with gold and uranium helping to offset volatility in diamonds, while increased exploration and investment support future growth.”

“"In 2024, mining contributed N$51.3 billion to the economy, 13.3% of Namibia's GDP, and paid over N$5.6 billion in taxes, royalties and levies. More than 20 800 people are employed directly, with billions spent on local goods and services," the organisation stated.”

“The Chamber of Mines has hit back against claims that mining does not create jobs for Namibians.”

“The chamber cites the example of the Tschudi copper mine, which produces refined copper cathodes, as well as two other mineral processing plants that are currently inactive.”

“The Chamber of Mines, through its spokesperson, told the committee that the mining sector remains the backbone of Namibia's economy, contributing 13.3% to gross domestic product in 2024.”