The Chamber of Mines Namibia fears that policy uncertainty could erode investor confidence just as the country’s mining sector shows renewed strength.
In its August 2025 Monthly Mining Update, the Chamber highlights how fragile international economic conditions, shifting commodity markets, and ongoing domestic policy debates are shaping the outlook for Namibia’s most important industry.
The report notes that global economic conditions remain challenging, defined by trade disruptions, tariff volatility, and geopolitical risks.
Inflation has eased modestly to 4.2 per cent, providing some relief on input costs; however, uneven demand across international markets continues to weigh on mineral commodity prices.
Despite this backdrop, Namibia’s mining sector has continued to demonstrate resilience, supported by robust performances in gold and uranium, as well as steady investor interest in new projects.
Gold has been a standout performer. Prices surged by 36 per cent year-on-year in August, boosting profitability and fiscal contributions.
Locally, B2Gold’s Otjikoto mine revised its 2025 production guidance upwards, citing stronger ore grades and higher-than-expected output.
Uranium prices also strengthened, rising 4.1 per cent month-on-month to US$75.70 per pound. Uranium remains Namibia’s top export, accounting for 26 per cent of total exports in July and underscoring its growing importance in global clean energy markets.
The update also highlights the pipeline of new and advancing projects that reinforce Namibia’s long-term position as a supplier of strategic minerals.
These include Osino Resources’ Twin Hills gold project, Bannerman Energy’s Etango-8 uranium development, Reptile Mineral Resources’ Tumas project, and Andrada Mining’s Uis tin and lithium operations.
Together, these projects are positioning Namibia as both a reliable source for the global energy transition and a destination for safe-haven investment capital.
Yet, the Chamber cautions that this momentum could be undermined by domestic policy uncertainty.
At the centre of concern is the ongoing debate surrounding proposals for mandatory 51 per cent local ownership in new mining projects.
The Chamber warns that, if enacted, such measures risk undermining Namibia’s hard-won reputation as one of Africa’s most attractive mining jurisdictions, a status reinforced by its improved ranking in the 2024 Fraser Institute Survey of Mining Companies.
“Our sector continues to perform strongly, with gold and uranium leading the way. But to sustain this momentum, Namibia must provide a stable and competitive policy environment.
Any uncertainty threatens not only current operations but also the pipeline of transformative projects that can deliver long-term economic benefits to the country,” said Chamber CEO Veston Malango.
