The Chamber of Mines Namibia chief executive, Veston Malango, said President Netumbo Nandi-Ndaitwah advised the Chamber during a meeting at State House on 17 September 2025 that the announced 51% threshold did not constitute formal Government policy.
The Chamber had sought clarification after the dismissed mines minister, Natangue Ithete, had indicated his intention to introduce a mandatory 51% local ownership requirement for new mining licences.
Ithete’s intention marked a significant departure from the previously contemplated policy position of a 10% government free-carry interest, which had been under discussion during the former minister Tom Alweendo’s tenure.
In his 2025 strategic review, Malango said Ithete’s pronouncement had immediate and far-reaching implications for the sector, both domestically and internationally.
He said the statement raised concerns among investors over policy predictability and investment security, while some companies with Namibian mining interests on the Australian Securities Exchange (ASX) temporarily suspended trading.
Malango added that concerns were also emerging that similar ownership rules could be extended to other strategic sectors, including oil and gas.
He said the Chamber’s executive committee moved swiftly to assess the impact of the announcement and to limit damage to investor confidence.
The Chamber prioritised urgent engagement with government to seek clarity on the proposal, its intended scope and rationale, while also reassuring current and prospective investors.
Despite several attempts, Malango said efforts to secure an immediate meeting with Ithete initially failed, prompting the Chamber to seek direct intervention from State House.
The subsequent meeting with the President included senior officials from the National Planning Commission and the Ministry of Industries, Mines and Energy.
Malango said discussions focused on stabilising the policy environment and establishing a coordinated national approach to local ownership policy.
A key outcome was the designation of the National Planning Commission as the central coordinating authority for local ownership policy development and alignment, including in the mining sector.
The government is also committed through the commission to issue a public clarification on the 51% ownership pronouncement.
The issue was compounded by Namibia’s Sixth National Development Plan (NDP6), which listed a 51% local ownership baseline in mining licences in 2024 and a 60% target by 2030.
Malango said those figures did not reflect the ownership realities of most large-scale mining operations, with Namdeb Holdings being a notable exception.
Following engagement with the Chamber, the National Planning Commission acknowledged the need to review and recalibrate both the baseline and target figures.
