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June 2026
Windhoek Observer
Chamber of Mines of Namibianoted thatrising fuel prices are increasing cost pressures for mining sector
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“The Chamber of Mines of Namibia has noted that rising fuel prices are increasing cost pressures for the mining sector, highlighting the importance of continued efficiency improvements and the adoption of innovative energy solutions to maintain competitiveness.”
Chamber of Mines of Namibiahas notedrising fuel prices are increasing cost pressures for the mining sector
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“THE Chamber of Mines of Namibia has noted that rising fuel prices are increasing cost pressures for the mining sector, highlighting the importance of continued efficiency improvements and the adoption of innovative energy solutions to maintain competitiveness.”
Chamber of Mines of Namibiaannouncedmining sector sustained more than 166,000 jobs in 2025
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“The recent announcement by the Chamber of Mines of Namibia that the mining sector sustained more than 166,000 jobs in 2025 is undoubtedly encouraging news.”
Chamber of Mines of Namibiaraised concernsabout investor confidence, capital flight and chilling effect on investment
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“Predictably, concerns were raised within the mining industry about investor confidence, capital flight and the potential chilling effect on foreign direct investment.”
Chamber of Mines of Namibiasaid engagement withMinistry of Industries, Mines and Energy became difficult during 2025
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“The Chamber said engagement with the Ministry of Industries, Mines and Energy became difficult during the year, especially after the ministry's mandate was expanded to include the industries portfolio.”
Chamber of Mines of Namibiawarned that the government's proposed 51% local ownership requirement couldharm investment, competitiveness and long-term sustainability of mining sector
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“The Chamber said it immediately sought urgent discussions with government and warned that the proposal could harm investment, competitiveness and the long-term sustainability of the mining sector.”
Chamber of Mines of Namibia president George Botshiwesaid mining sector paidN$7.8 billion in taxes to government in 2025
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“This was said by the president of the Chamber of Mines of Namibia, George Botshiwe, in a mining industry review presented at the chamber's annual general meeting, attended by minister of industries, mines and energy Modestus Amutse on 21 May.”
The Chamber of Mines of Namibia notes that rising fuel prices are increasing cost pressures for the mining sector, with diesel and petrol prices rising by N$4.63 and N$1.40 per litre respectively. Despite strong uranium and gold prices, higher transport costs are creating a more challenging operating environment.
The Chamber of Mines of Namibia notes that rising fuel prices are increasing cost pressures for the mining sector, with diesel and petrol prices rising by N$4.63 and N$1.40 per litre respectively. Despite strong uranium and gold prices, higher transport costs are creating a more challenging operating environment.
The Chamber of Mines of Namibia reports that rising fuel prices are increasing cost pressures for the mining sector, with diesel prices up N$4.63 per litre and transport inflation reaching 11.5% year-on-year as of May 2026. The sector remains cautiously optimistic due to strong uranium and gold prices, but faces a more challenging operating environment as higher fuel and transport costs weigh on competitiveness.
The Chamber of Mines of Namibia announced that the mining sector sustained more than 166,000 jobs in 2025, with continued advancement of uranium, gold, copper and critical mineral projects. The article explores the broader question of whether government or the private sector bears primary responsibility for job creation in Namibia, where unemployment remains a pressing challenge.
Namibia's mining sector sustained more than 166,000 direct and indirect jobs in 2025, with member companies employing 8,201 people in permanent positions and 97% of those roles filled by Namibians. The sector contributed N$7.96 billion in total wages and N$1.5 billion in PAYE tax, while spending N$23.97 billion on locally sourced goods and services.
The government's proposed 51% local ownership requirement for future mining licences has strained relations with the Chamber of Mines, which raised concerns about investor confidence and capital flight. The article argues that while foreign investment is important to the mining sector, Namibia's minerals belong first to Namibians and the country must balance competing interests.
Namibia's mining sector paid N$7.8 billion in taxes to government in 2025, a 39% increase from N$5.6 billion in 2024, driven largely by corporate income tax from gold mining operations. Royalties rose 9% to N$2.5 billion and export levies increased 90% to N$685 million, while the mining sector's real value added contracted 9.4%.
The Chamber of Mines of Namibia has appointed geologist and investment banking professional Fabian Shaanika as Chief Executive Officer, effective 1 May 2026, succeeding retired CEO Veston Malango who led the organization for two decades. Shaanika brings nearly 20 years of mining sector experience across exploration, project development, financing, and production, including recent roles at Kelp Blue and senior positions at Rand Merchant Bank and Standard Bank Namibia.
The Chamber of Mines of Namibia reports that major mining projects including the Tumas Uranium Project, Twin Hills Gold Project, and Etango Uranium Project continued to progress in 2025, supporting the sector's role as a main economic driver, though rising policy uncertainty is starting to affect investor confidence.
Fabian Shaanika, former managing director of Kelp Blue, has been appointed chief executive officer of the Chamber of Mines of Namibia, effective 1 May 2026. He brings experience from mining and resources roles at Namdeb, Vedanta's Skorpion Zinc Mine, Debmarine Namibia, and Rand Merchant Bank Namibia.
The Chamber of Mines of Namibia has appointed Fabian Shaanika, formerly managing director of kelp farming company Kelp Blue, as its new chief executive effective 1 May. Shaanika, a registered geologist with MBA and experience at Rand Merchant Bank, Standard Bank, Namdeb, Skorpion Zinc Mine and Debmarine Namibia, replaces Veston Malango, who retires after 20 years leading the chamber.
Namibia's mining sector generated N$64.18 billion in revenue in 2025 despite contracting by 9.4%, with strong gold and uranium performances offsetting declines in diamonds and base metals. Gold prices surged about 44% while diamond prices fell 10–12%, and government contributions rose to approximately N$7.8 billion.
Namibia's mining competitiveness ranking fell sharply in the 2025 Fraser Institute survey, dropping from 30th to 51st globally and from 4th to 7th in Africa, as investor concerns about policy direction and regulatory clarity intensify. The Chamber of Mines attributes the decline to weakening perceptions of mining policy and governance, citing a proposed 51% local ownership requirement and new legislative changes as compounding investor uncertainty.
The Chamber of Mines of Namibia has warned that the country's mining investment attractiveness has dropped sharply in the 2025 Fraser Institute survey, falling from 30th to 51st place out of jurisdictions ranked, citing policy uncertainty including proposed 51% local ownership requirements and planned legislation on water, environment and minerals as key concerns. The government has since clarified there is no fixed local ownership requirement, aiming to restore investor confidence.
According to the Fraser Institute's 2025 survey, Namibia's mining investment attractiveness index fell from 66 to 56, dropping its global ranking from 30th to 51st place. Industry leaders and analysts attribute the decline to uncertainty over local ownership requirements, delays in policy implementation, and concerns about new regulatory frameworks.
Namibia's non-diamond mining sector contributed N$4.4 billion in corporate income tax in 2025/26, up 54% from the prior year, driven by strong gold performance and improved commodity prices, though diamond mining tax receipts fell significantly by 69% to N$74.3 million. Overall mining sector revenues to the state, including export levies and royalties, totalled more than N$5 billion, with uranium and base metals supporting export earnings despite sustained pressure on the diamond market.
Namibia's mining sector started 2026 strongly, supported by favourable commodity prices and renewed global demand for strategic minerals, with gold and uranium now accounting for the majority of sector revenues. Corporate income tax from non-diamond mining surged 54% to N$4.4 billion in 2025/26, though the diamond market remains under pressure from weak consumer demand and lab-grown competition.
The Chamber of Mines of Namibia supports government plans to amend mining sector taxation, including limits on loss carryforwards and tax deductions for rehabilitation and corporate social responsibility expenditures. The chamber says the changes aim to strengthen economic activity and encourage investment in community development.
An audit by the auditor general found that corporate tax paid by gold mining companies fell 47.7% from 2020 to 2022 despite record production, raising concerns about tax avoidance or under-reporting. The report identifies failures by the Namibia Revenue Agency to conduct tax audits on gold mines and gaps in the Ministry of Industries, Mines and Energy's production verification controls.
United States Ambassador John Giordano completed a 10-day mission across Namibia, Washington and Cape Town to mobilise American capital and technology into Namibia's oil, gas and mining industries, framing critical minerals as essential to US energy security in the "AI era". The diplomatic push aims to position US firms to compete in Namibia's offshore energy, uranium and critical minerals sectors while deepening strategic energy partnerships.
US Ambassador John Giordano held talks with Namibian officials on expanding the US–Namibia partnership in critical minerals, citing Namibia as a regional leader in sound mining policy and responsible governance. The discussions focused on bringing American technical expertise, innovation and investment to support job creation, industrial development and energy security in the mining sector.