Namibia’s mining industry is well-positioned to support economic recovery in the next two years

Mining Site

Namibia’s mining sector is well-positioned to support much needed economic recovery in the next two years instead of increasing mineral commodity prices and higher output for diamonds and uranium, an executive said Wednesday.

This view is supported by the strong growth rate for mining in 2021, which recorded 13.6 percent according to the Preliminary National Accounts published by Namibia Statistics Agency, Namibia Chamber of Mines President Hilifa Mbako said in a statement at the company’s Annual General Meeting held online Wednesday.

“The growth is attributed to an increase in the production of diamonds and uranium and a moderate increase in gold output. The uranium and diamond sub-sector registered growth rates of 2.5 percent and 25.8 percent respectively,” he added.

According to Mbako, mining also remained the primary sector anchor of the economy and the largest contributor to GDP which amounted to 9.1 percent in 2021. Enditem

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