Navachab Gold Mine is preparing for a new chapter as it embarks on a N$4 billion underground mining expansion, signalling long-term confidence in one of Namibia’s most important mineral assets.
Alongside this investment, the company will spend an additional N$250 million on surface exploration during 2025—efforts aimed at unlocking deeper ore bodies and extending mine life well into the 2040s.
This follows years of recovery and strategic capital investment that have repositioned the Karibib-based mine as a cornerstone of Namibia’s gold sector.
Namibia’s first gold mine still leads
Speaking at a media engagement hosted by the Namibia Press Agency at Swakopmund during the Effective Communicators Conference, Navachab Gold Mine Managing Director George Botshiwe shared the compelling turnaround story of the mine.
What began as a crisis in 2018 has evolved into a national success story—driven entirely by local ingenuity and determination.
Navachab, located just outside the town of Karibib in the Erongo Region, is Namibia’s oldest operational gold mine. Commissioned in 1989, it became the country’s first commercial gold producer and remains a key economic anchor in the region.
The open-pit mine is operated by QKR Namibia, a subsidiary of QKR Corporation Ltd, which acquired the asset from AngloGold Ashanti in 2014.
Navachab currently produces between 85,000 and 95,000 ounces of gold annually, with silver as a by-product.
Since its establishment, the mine has yielded more than 2.5 million ounces of gold. Total gold reserves are estimated at around 600,000 ounces, with broader measured and inferred resources of up to 1.5 million ounces.
At current gold prices—approximately N$44,650 per ounce—the in-situ value of these resources exceeds N$60 billion. However, this figure reflects theoretical gross value; actual mine economics depend on recovery rates, costs, and long-term market conditions.
Billions invested without borrowing
In recent years, Navachab has invested over N$5 billion in capital projects.
These include a N$800 million mining fleet, a N$1.5 billion expansion of its processing plant, and key infrastructure upgrades.
“At one point, I didn’t know how I was going to pay salaries,” Botshiwe told the audience in Windhoek. “We were at the lowest of the low.”
A crisis in 2018 sparks internal reform
In 2018, the mine was making losses, burdened by high operating costs and unable to secure loans from commercial banks.
The company’s financial position had deteriorated so severely that salaries had to be prioritised over creditors. But rather than collapse, the mine’s leadership launched an internally driven turnaround campaign called Project Kaima—a Damara word meaning rise.
Project Kaima: a Namibian solution
Project Kaima focused on core operations, cost reduction, revenue growth, and empowering the workforce.
Employees played a central role in developing solutions, and no external consultants were hired.
A project office was created to collect staff input and oversee implementation. Daily executive-level meetings ensured tight coordination.
By late 2019, the mine had resumed operations, acquired new equipment, and rapidly improved performance.
The workforce more than tripled, and gold output surged. In 2024, Navachab recorded its highest-ever production and revenue.
By mid-2025, the mine had already paid around N$750 million in taxes and royalties to the Namibian government.
Community partnerships ease tensions
The turnaround wasn’t confined to the mine gates. Faced with community protests in 2019, Botshiwe and his team met directly with local leaders in Karibib and Otjimbingwe to explain the recovery plan.
From mortuaries to mentorships
From those conversations, new corporate social investment projects emerged.
The mine constructed a N$5 million mortuary in Otjimbingwe, committed N$80 million to build a government-run medical centre in Karibib, and electrified informal settlements in partnership with the town council and the Ministry of Mines and Energy.
The Golden Egg Project was also launched, providing support to 10 local SMEs through funding, training, and compliance assistance. Today, all 10 enterprises are active and creating jobs.
Training Namibia’s future workforce
Navachab has hosted over 2,000 interns in the past five years and currently has more than 100 students on-site. Many have been absorbed into full-time roles.
Banks once skeptical now line up
Remarkably, the company’s revival and expansion were achieved without any bank loans.
“The banks didn’t want to talk to us in 2018,” Botshiwe said. “Today, they’re tripping over themselves to offer us financing.”
Extending mine life beyond 2045
Navachab’s mining life has now been extended to 2033, with processing operations planned through 2045. The upcoming underground mine is expected to unlock deeper ore bodies, extending the mine’s productivity well into the next two decades.
Learning to speak for themselves
Initially comfortable with flying under the radar, the mine was forced to rethink its approach to communication after negative media coverage.
Navachab has since established a public relations office and created a WhatsApp group to provide real-time updates to media houses.
“We realised that if we don’t tell our story, others will tell it for us—and often, they’ll get it wrong,” Botshiwe said.
A resource mined for Namibia
He concluded with a message of pride and ownership: “This gold belongs to the Namibian people. We are just custodians. Our duty is to maximise its value for the country. We’ve proven that Namibians can build and manage world-class mines without international consultants. We did this ourselves.”
Navachab Gold Mine, once on the verge of collapse, is now a shining example of what Namibians can achieve with commitment, collaboration, and vision.
