EDITORIAL: Still foreign soil beneath our feet

Namibia’s mineral wealth continues to be extracted at a prolific rate - but to whose benefit? A detailed look at ownership in the country’s mining sector reveals a sobering truth: our minerals are being harvested largely for the gain of others. This is an alarming situation for a sovereign state with ambitious dreams of inclusive economic transformation.Under NDP6, government sets a bold target: Namibians must hold 60% equity in mining ventures by 2030. But how, exactly, do we get there? That’s the million-dollar question that NDP6 fails to convincingly answer. Why is there no framework - perhaps incentivised or mandatory - requiring foreign miners to gradually dilute their equity to accommodate Namibian shareholders? Why is there no timeline, no legislative signal, no industry-wide local equity threshold enshrined in regulation? Why are state-linked entities like Epangelo Mining so often reduced to minority shareholders, often holding symbolic percentages that confer neither financial control nor meaningful dividends?Even in instances where the Namibian government has maintained 51% of the voting rights, such as at Rössing Uranium, it holds just 3% of the financial equity. That’s influence without income - power without profit. This contradiction undermines the very purpose of national participation.The economic logic of attracting foreign investment should never be confused with the abdication of national ownership. No country has developed sustainably by surrendering control of its most lucrative resources. We must be honest: Namibia is not “open for business” so much as it is on sale. And at a discount.A foreign-dominated mining sector is not only an economic problem - it is a political time bomb. Government must urgently define clear, enforceable steps to reverse the ownership imbalance. Yes, investor confidence matters. But so does justice. So does sovereignty.

EDITORIAL: Still foreign soil beneath our feet

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Namibian Sun 2026-02-13

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EDITORIAL: Still foreign soil beneath our feet

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Namibian Sun 2026-02-13

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