Mining: ‘Continue dialogue on value addition’

The mining sector will continue to be an important contributor to the economy, but only if new mines are found.

26 February 2019 | Business

We also know that exploration is a high risk investment. – Tom Alweendo, Minister: Mines and Energy

The mining sector can be leveraged to strengthen the productive capacity of the Namibian economy and value to minerals before they are exported in raw form, the minister of mines and energy, Tom Alweendo, has said.

Speaking at the Debmarine stakeholder engagement on Friday, Alweendo said value addition would strengthen the productive capacity of the economy, thereby serving as a catalyst for more investment in the economy.

He said there was no reason why the country had to continue exporting all of its raw materials in raw form when some could easily be value-added.

Therefore, comprehensive dialogue between relevant parties in the mining sector was needed to discover what is in the best interest of all parties, including the realisation that a successful value addition scheme is mutually beneficial to both the investors and the state.

Investment

Alweendo added that the mining sector would continue to be an important contributor to the economy, but only if new mines are found.

He also urged industry players to do everything possible to attract investment in mineral exploration.

“Without exploration, no new mines can be discovered. We also know that exploration is a high risk investment. When you invest in mineral exploration, there is no guarantee that you will discover mines,” Alweendo said.

Diamond mining contributed 8.2% of nominal gross domestic product (GDP) from 2013 to 2017, which shows that it is a substantial contributor compared to other sectors, he added. - Nampa

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