Namibia

Namibia

Namibia

Namibia Facts

Capital Windhoek

Population 2.5 million

Namibia recorded GDP of 11.5 B USD in 2015

 

Free and open Democracy

Presidential style of Government

Namibia is a popular film shooting location  for its spectacular Desert scenery Mad Max – Fury Road is a recent example

Mining In Namibia

Key industries are agriculture, fishing, mining and tourism. However mining is the biggest contributor to Namibia’s economy in terms of revenue. It accounts for 25% of the country’s income

The royalty schedule that applies to mining is 3% royalty on the market value of base, precious, and rare metals and nonnuclear mineral fuels. A 2% royalty levied on industrial minerals and nuclear mineral fuels. Combined with a corporate tax rate of 37.5% for non-diamond mining makes Namibia an excellent country in which to invest. Namibia was recently ranked as the most attractive African investment jurisdiction in the Fraser Institute Mining Company Survey

The larger mining operations in Namibia tended to be funded and operated by domestic and international investors. Numerous local operations were involved in smaller-scale industrial mineral production, especially the semiprecious gemstone sector.

Mining provided for over 14,000 jobs in 2011. The artisans for the industry are educated in the Namibian Institute of Mining and Technology (NIMT) in Arandis, Keetmanshoop, and Tsumeb, as well as at University of Namibia (UNAM)’s Faculty of Engineering and Infomation Technology in Ongwediva. Namibia University of Science and Technology (NUST)’s Faculty of Engineering in Windhoek also provides mining education.

Main Commodities

  • Copper
  • Gold
  • Lead and Zinc
  • Cement
  • Diamonds
  • Petroleum
  • Uranium
  • Semi precious gemstones & minerals

Notable mines

  • Husab Uranium Mine
  • Langer Heinrich Uranium Mine
  • Rössing uranium mine
  • Skorpion Zink mine
  • Navachab Gold Mine (b2Gold)
  • Dundee Precious (Tsumeb Copper Mine)

The long tradition of mining in Namibia has been renewed with the reopening of the Tsumeb-area copper mines and smelter, the opening of the Skorpion zinc project, the expansion of the fluorspar and the gold mines, and continued offshore diamond development of the past few years. Extensive exploration in Namibia for base metals, diamond, gold, natural gas, and uranium has been attributed, in part, to the rise in world commodity prices. Potentially new mine development and new value-added gemstone cutting and polishing, metal-processing, and other mineral-based manufacturing industries could maintain the mineral sector’s position as a significant segment of the economy of Namibia for the foreseeable future.