Vice President Netumbo Nandi-Ndaitwah said natural resources belong to Namibians, naturally and constitutionally.
Speaking at the Mining Expo 2024 opening, Nandi-Ndaitwah said Namibians need a clear law to protect that ownership and attract investments.
“Namibia is our country, and its resources belong to us as Namibians, and we must work together to achieve shared, balanced prosperity,” she said.
She said that technical engagements are currently underway to work on the law.
“Similarly, consultations with all stakeholders in finalising that law are a must,” she said, adding that mining is vital to agriculture, which is a strategic industry.
Nandi-Ndaitwah also said mining and exploration continue contributing to Namibia’s national economy, creating direct and indirect employment opportunities for Namibians.
Moreover, she said, the mining industry’s contribution to the government revenue significantly increased from N$4.4 billion in 2022 to N$6.8 billion in 2023.
According to her, the government would work with the industry to ensure that Namibians and all who live in this country feel its contribution to the economy.
The vice president said beyond becoming a potential supplier of critical minerals, Namibia’s immediate growth prospects in mining lie in the uranium and gold sub-sectors.
“In alignment with the clean energy transition, Nandi-Ndaitwah said, many countries have recognised nuclear power as a sustainable and carbon-neutral base-load power source and have begun to develop or expand their nuclear power capabilities.
“Namibia is ranked the world’s third-largest producer of uranium, and this price improvement has accelerated the development plans for two advanced uranium projects, with many more likely to follow,” she explained.
Recalling when she was the international relations minister, Nandi-Ndaitwah said Namibia must follow the discussions on nuclear use for clean energy production and development.
She said as Namibia becomes a more prominent player in the supply of uranium, Namibians should also consider how they may benefit from the downstream nuclear value chain activities, such as the application of different technologies in food production, medicine, and energy production.
“It is essential to recognize the opportunities the oil and gas sector development brings to the fore, notably that this sector can support import substitution within Namibia’s mining sector,” she said. Nandi-Ndaitwah said mining is one of the largest consumers of refined oil products, including diesel, petrol, and other fuels. “These fuels are significant cost drivers, heavily influenced by global oil prices and international exchange rates.
“By completing the entire value chain and refining our oil, the mining industry and the Namibian economy will benefit from consuming domestically produced fuel, hopefully at a much lower cost,” she added.
According to her, developing these industries and their new economic opportunities will undoubtedly help create more employment opportunities for Namibians, particularly the youth.
She said the government is actively finalising the Local Content Policy for the oil and gas sector to create increased economic opportunities for the youth and the Namibian population.
“This policy ensures that Namibians benefit from every part of the value chain. By doing so, we are committed to maximizing the economic impact of our natural resources, fostering local expertise, and ensuring that the wealth generated from these industries contributes directly to the prosperity of our people,” she said.
Nandi-Ndaitwah appealed to mining companies to understand and collaborate with Namibia.
