Namibia eyes local beneficiation projects

• No raw minerals to be exported
Mines minister Tom Alweendo has defended Namibia's stance, saying it is key to building the economy.
Ogone Tlhage
  • 1 Month Ago 27 October 2023 - 2023-10-27 16:21:00
Namibia intends to compel companies in the mining sector to conduct value-addition activities in-country by 2030 for projects with a value of over N$25 million.

The target is contained in the mineral beneficiation strategy.

Motivating the need for local beneficiation, government said Namibia’s mineral endowment lends to ensuring value addition takes place.

“Namibia has an extensive and diverse mineral endowment and the mineral industry has been and remains an integral part of the Namibian economy,” it said.

“The desired situation is for Namibia to develop an internationally competitive industry in which beneficiated and value-added minerals and metals become feedstock in the field of manufacturing of semi-finished products or consumer end-products.”

Not resource nationalism

Addressing the European Union-Namibia Business Forum, President Hage Geingob reiterated a position adopted by Cabinet in June this year, saying “we are no longer going to export raw minerals”.

“Namibia's economy is intricately linked to the extraction and processing of minerals for export, contributing significantly to our gross domestic product and foreign exchange earnings.

Speaking at the same occasion, mines minister Tom Alweendo said Namibia will do all it can for value addition of rare minerals to be done in-country, in order to ensure developmental goals are met.

“When we talk about value addition, it’s got nothing to do with resource nationalism; it’s got everything to do with building our economy, building the lives of Namibian people,” he said.