Mining hits US$1.87bn investment, 3 054 jobs in nine months

Namibia's mining sector attracted US$1.865 billion in investment and created 3 054 jobs in the first nine months of the Namibia Public-Private Forum implementation period, smashing the investment target but falling short on jobs.

The investment figure is more than three-and-a-half times the US$525 million target for the nine-month period, though the job numbers fell 321 short of the 3 375 goal.

Chamber of Mines of Namibia chief executive Fabian Shaanika told the Mining Expo and Conference in Windhoek last week that the figures showed investment running significantly ahead of the targets set under NamPPF, while employment had reached about 90.5% of the nine-month target.

The performance is measured against commitments made at the inaugural NamPPF, held in Windhoek on 23 and 24 October 2025, where the mining industry presented a four-year pipeline expected to attract about US$2.865 billion in investment and create more than 18 000 direct jobs.

The US$1.865 billion investment recorded after nine months represents about 65% of the amount envisaged over the full four-year period, while the 3 054 jobs created represent about 17% of the longer-term employment target.

Chamber of Mines president George Botshiwe said the industry was using the Mining Expo to measure progress against NamPPF commitments and determine how much had translated into actual projects, investment and jobs.

“We made commitments of employment opportunities, skilling and training and developing Namibian people,” Botshiwe said.

“What have we achieved in the last 12 months? What obstacles remain and what do we do about those obstacles?” he said.

The gap between investment and employment partly reflects the development stages of the projects underpinning the NamPPF commitments, with several major developments absorbing capital before reaching the construction and operational phases, when larger numbers of jobs are expected.

First wave

Twin Hills Gold is among the most advanced, with construction underway on a development expected to operate for about 13 years.

Bannerman Energy’s Etango uranium project has moved into early works, which Shaanika said were progressing on schedule, while a water agreement required for the development has been secured.

Deep Yellow’s Tumas uranium project has secured its mining licence and continues along its financing and final investment decision pathway, although the company has not yet taken a final decision to construct the mine.

The chamber also identified the Husab-NamWater desalination plant among infrastructure developments supporting the industry’s movement towards implementation.

Second wave

Behind the projects closest to development is another group that could sustain investment and employment beyond the first wave.

Koryx Copper’s Haib project is targeting completion of a pre-feasibility study by the end of 2026, while Andrada Mining’s Uis and Lithium Ridge developments provide potential growth in tin, lithium and tantalum.

Wia Gold’s Kokoseb discovery is also part of the future project pipeline as exploration and resource definition continue.

The movement of these projects through different stages of development means the NamPPF scorecard will increasingly depend on whether investment already being made translates into construction, production and employment.

Botshiwe said the projects represented identifiable investment rather than simply Namibia’s geological potential.

“This is not theoretical potential; it is investment currently constrained by regulatory and permitting delays and policy ambiguity,” he said.

The government side of the NamPPF commitments therefore becomes increasingly important as projects advance.

Government reforms

The NamPPF economic recovery unit has prioritised reforms aimed at unlocking investment and improving regulatory certainty, including finalising the Investment Bill, implementing investor visa reforms and clarifying government policy on beneficial ownership and shareholding.

A second reform area focuses on licensing and permitting, where sector-specific measures are expected to address approval bottlenecks affecting mining developments.

Infrastructure readiness is also becoming more important as several large projects advance simultaneously and require water, electricity and transport infrastructure.

Botshiwe said the chamber remained confident that the industry could ultimately outperform the commitments, saying: “I see us overachieving in terms of the targets”.