The consul general, Selma Nghinamundova, said Namibia is still working on the modalities on how to add value to raw minerals.
Nghinamundova, who spoke at the ongoing Investing in African Mining Indaba in Cape Town on Wednesday, said Namibia must recognise and embrace the maximum benefits of its mineral resources.
She spoke on behalf of mines minister Tom Alweendo at a symposium on the theme: Namibia Case Study – Investment Opportunity in the Mining Sector.
“Yes, we are mining these minerals. But what are we doing right now? All these years we have been exporting minerals in raw form. But can it business as usual? Or can we do things now differently?
“We are taking bold steps, and one of those bold steps is that we should not let the situation go as before. We want to add value to our minerals. We want to industrialise our country. We say we want to industrialise our country by 2030. How could that look? Where do we start?
“Last year, we decided on the cabinet that we will not export our minerals in raw form. We want to add value to the country. How does that work? We are still working through the modalities but want skills development in the country,” she said.
Nghinamundova said Namibia has been ranked among the world-class producers of rough diamonds, uranium, gold, zinc, acid-grade fluorspar, copper, lead, limestone, cement, salt, and dimension stones.
Nghinamundova added that Namibia remains one of the most prospective jurisdictions for lithium, graphite, cobalt, rare earth metals, and other minerals, which many countries worldwide consider critical inputs in green technologies.
Additionally, she said Namibia is endowed with natural wind and sun resources and is amongst the most competitive destinations in the world, with the potential to become a producer and exporter of green hydrogen.
“Most, if not all, of these commodities have been exported in their raw form or with minimal processing before being exported to various destinations, preventing Namibia from reaping the maximum benefit from its resources,” Nghinamundova said.
According to Nghinamundova, the security of critical minerals supply chains has become a global strategic issue in recent years.
She said Namibia sees its interest in its critical minerals as an opportunity to leverage the current situation to derive better value from its mineral resources, which will benefit the country.
“Therefore, we expect the number of interested parties seeking partnerships for critical raw materials (critical minerals) to increase due to the global demand for energy transition,” she said.
Nghinamundova declared: “Like any other country endowed with mineral resources, we aim to add value to our minerals for viable projects.”
To achieve this, Nghinamundova said Namibia has developed its Minerals Beneficiation Strategy to maximise benefits from its mineral resources.
She said Namibia has so much more to offer as the best country to invest in, applying the quadruple helix approach where government, industry, academia, and communities work together in addressing challenges pertinent to our context.
“The country’s consideration of Environmental, Social, and Governance (ESG) factors drives investors’ confidence in doing business in the Namibian minerals sector,” she said.
