Namibia’s mining sector is entering one of its most ambitious expansion phases in decades, with projects across gold, uranium, zinc, and phosphate expected to inject more than US$2.865 billion in combined capital expenditure over the next four years.
These developments carry the potential to create over 18,000 direct jobs, alongside tens of thousands of indirect opportunities across logistics, services, and construction.
The investment outlook was unveiled at the Namibia Public-Private Forum, held on 23–24 October 2025, where Irvinne Simataa, Second Vice-President of the Chamber of Mines of Namibia and Executive Vice-President of Swakop Uranium, joined Zenzi N. Awases, President of the Women in Mining Association of Namibia and Lead Consultant at EmpowerMine Consulting Service, in presenting the country’s large-scale mining pipeline.
Gold sector growth
The gold sector is entering a new era of expansion, anchored by Osino Resources’ Twin Hills Mine, Namibia’s next significant open-pit development near Karibib. Construction is advancing toward the first gold pour, with an estimated annual production of 150,000 ounces and hundreds of jobs already created during the build-up phase.
Meanwhile, QKR Namibia Mineral Holdings’ Navachab Gold Mine is undertaking a N$4 billion underground expansion that will extend the mine’s life, increase ore grades, and sustain employment in the Erongo Region.
At the same time, B2Gold Namibia is progressing its Antelope underground expansion at the Otjikoto Mine near Otjiwarongo.
According to the company’s preliminary economic assessment, the Antelope project contains an estimated 1.75 million tonnes grading 6.91 g/t Au for about 390,000 ounces of gold.
The initial five-year life-of-mine will produce roughly 327,000 ounces (≈ 65,000 ounces per year) from 2028 to 2032. Combined with low-grade stockpile feed, overall output is projected to average 110,000 ounces per year between 2029 and 2032. The mine’s pre-production capital cost is estimated at US $129 million, with an after-tax NPV (5 %) of US $131 million, an IRR of 35 %, and free cash flow of US $185 million at a gold price of US $2,400 per ounce.
Together, these gold-sector expansions form a corridor of investment stretching from Otjiwarongo through Karibib to Usakos, reinforcing Namibia’s position as a stable gold-producing jurisdiction with diversified ownership and growing technical capacity.
Uranium, zinc, and phosphate
Uranium remains Namibia’s strategic mineral mainstay. Bannerman Energy’s Etango Project leads the current wave, with investment exceeding US $300 million and a production target of 3.5–4 million lbs U₃O₈ per year. Reptile Mineral Resources is similarly expanding its processing facilities, while Rössing Uranium and Husab Uranium are upgrading leach plants and pit extensions to sustain output well beyond 2035.
The planned conversion of the Skorpion Zinc refinery in the ǁKaras Region is driving Namibia’s zinc resurgence. Once among southern Africa’s premier zinc producers, the revamped facility aims to treat alternative concentrates and by-products such as germanium and gallium, creating hundreds of direct and contract jobs and re-establishing Namibia’s metallurgical base.
In parallel, the Sinomine Resource Group-run Tsumeb Smelter is being retooled into a multi-metal refining and recycling plant for germanium, gallium, and zinc, aligning with Namibia’s Green Industrialisation Blueprint. Complementing these projects, the planned NamWater desalination plant will supply up to 20 million m³ of water annually to coastal mines, addressing a long-standing infrastructure bottleneck in Erongo.
Approval of marine phosphate mining could add a new dimension to the resource base, potentially generating about 50,000 jobs—5,000 direct and 45,000 indirect—through extraction, beneficiation, and fertiliser production.
Challenges and policy priorities
Despite the robust pipeline, sector leaders cautioned that Namibia’s mining ambitions face headwinds from policy uncertainty and licensing delays.
The Chamber of Mines has called for the urgent finalisation of the Minerals Bill, stronger administrative capacity within the Ministry of Mines and Energy, and more predictable investment frameworks.
Infrastructure gaps—especially water supply, electricity tariffs, and rail connectivity—continue to slow project rollout. Skills shortages in engineering, geology, and metallurgy were also flagged, with the Forum urging reinforcement of vocational training and streamlined work-permit processes for specialised expatriate expertise.
Currently, less than 10 % of Namibia’s mineral exports are processed domestically, constraining industrial diversification.
The Forum recommended fast-tracking the Mineral Beneficiation Strategy through special economic zone incentives and improved access to serviced industrial land. Participants agreed that inclusive participation—particularly of women, youth, and local MSMEs—must guide the next wave of mining growth.
With mining contributing 13.3% of GDP in 2024, embedding these groups into value chains is vital for equitable progress.
