The Chamber of Mines of Namibia reported that the country’s uranium sector recorded a strong performance in the first quarter of 2025, with production rising 59% year-over-year as of April.
This increase was driven by growing global demand for nuclear energy as countries pursue cleaner energy sources.
Uranium exports brought in N$2.86 billion in April alone, making up 26% of Namibia’s total export earnings for the month.
Gold also contributed significantly to mining revenues. Exports of gold earned N$1.69 billion in April, accounting for over 15% of total exports.
Production remained steady, benefiting from high international prices, which averaged US$3,309 per ounce in May 2025—a 41% increase from May 2024.
Diamond production declined by 26% in April 2025 compared to the same period in 2024.
The sector’s share of total exports fell to 10.5%, down from 12.9% a year earlier.
The Chamber of Mines reported that this decrease followed deliberate production cuts by Debmarine Namibia in 2024 and early 2025, aimed at managing supply.
Despite these measures, the diamond industry continued to face competition from synthetic alternatives and weaker demand in key Asian markets.
Overall, mining and quarrying exports reached approximately N$5.4 billion in April 2025, accounting for nearly half of Namibia’s total export earnings that month.
The Chamber of Mines also noted that inflationary pressures have eased, with the annual inflation rate falling to 3.5% in May 2025 from 4.9% in May 2024.
This decline helped reduce operational costs across the mining sector.
Tin and copper markets remained supportive. Tin prices averaged US$32,007 per metric ton, about 72% higher than pre-pandemic levels.
Copper prices reached $ 9,740 per metric ton in March, reflecting ongoing demand linked to electric vehicle manufacturing and the development of green infrastructure.
The Chamber of Mines highlighted these trends as key indicators of the sector’s continued role in supporting Namibia’s export earnings and broader economic stability in 2025.
