TIRI MASAWI
The Chamber of Mines of Namibia chief executive officer Veston Malango said the mining industry is growing strongly because it is no longer relying mostly on diamonds, but also on other metals.
The latest chamber report showed that Namibia’s mining sector finished 2025 on a strong note, despite a challenging global economy. Strong performance in gold and uranium, along with growth in some base metals, helped make up for weak diamond sales.
Malango said, “The 2025 mining outcomes show that diversification is important. While diamonds faced global market challenges, uranium and gold strengthened the sector and proved its importance to Namibia’s economy.”
The chamber said uranium demand is expected to grow as more nuclear reactors start globally. Copper and tin are also likely to benefit from energy-transition needs, boosting exploration and development in Namibia.
Although the diamond market may recover slowly, Namibia is well placed to benefit when global demand improves. Overall, the mining sector enters 2026 with more diversification, renewed investment, and strong commodity conditions, making it a key contributor to economic growth, jobs, and fiscal stability.
Base metals had mixed results at the end of 2025, and the diamond market remained weak due to low global demand and high inventories.
Looking ahead, the chamber said the outlook for 2026 is positive. Global economic uncertainty may continue, but demand for key commodities remains strong. Gold prices are forecast by some analysts to rise above US$5,200 per troy ounce, which could boost revenue and investment in gold.
The chamber also noted that global economic conditions in November and December 2025 were cautious but stable, with moderate growth overall. Advanced economies slowed while emerging markets grew faster, according to the IMF.
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