Mining sector reaps the benefits

Namibia is the envy of other countries when it comes to its mining sector, says Chamber of Mines of Namibia chief executive officer Veston Malango, who attended the Mining Indaba in Cape Town a week ago. He made the remarks on account of the good performance of the sector combined with the commissioning of three new mines in turbulent times exacerbated by soft commodity prices. Said Malango: “We are the only country on the continent where the mining sector has gone up; we are very unique. “We have been reaping the benefits. We think the worst of the commodity slump is behind us.” In light of the good performance of the sector he said this year's mining expo theme would be 'Reaping the Benefits of Investment in the Mining Sector' to recognise the good fortunes observed in the sector. “The mining industry provides jobs to about 9 000 permanent employees of whom 95.5% are Namibians. “Together with contractors, the industry provides livelihoods to over 100 000 individuals,” said Malango. He said the industry paid N$3 billion in net salaries during 2015 and channelled 44% of its procurement spend locally, while paying N$5 billion in taxes and royalties to the government and generating a combined revenue of N$25 billion.“All indications suggest that commodity prices will increase. We are bottoming up and we could be seeing the [start of] a super-cycle.” Of new and potential projects he said: “Namib Lead had resolved issues around its mining licence and an announcement is to be expected soon, the Lofdal project is also being pursued hard. When we get into that league [rare earths], it is big. “Otjihase and Matchless are moving into development; we are very excited about the Husab uranium mine. “We expect full production next year and that is great. Husab is now the biggest open-pit uranium mine in the world. Namibia is thus ready to exploit a growth in commodity demand.”OGONE TLHAGE

Mining sector reaps the benefits

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Namibian Sun 2026-10-29

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Mining sector reaps the benefits

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Namibian Sun 2026-10-29

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