Deputy Prime Minister and Minister of Industries, Mines and Energy, Natangwe Ithete, announced on Tuesday that the govermnent is actively consulting with industry stakeholders on mechanisms that will promote 51% Namibian ownership in new mining ventures.
“We believe that local empowerment is not only a matter of social justice, but also a cornerstone for long-term stability and sustainability in the sector,” he said. Despite the positive drive in the sector, Ithete raised concerns over numerous mining licences that have been issued but remain inactive.
“Among all these good developments, there are several licences issued where no activity has commenced. This must change, because the mineral rights are granted with the intention of production,” he stated. Namibia’s Sixth National Development Plan (NDP6), launched by President Netumbo Nandi-Ndaitwah in Windhoek recently, sets targets to increase local ownership in mining ventures from 51 % in 2024 to 60 % by 2030.
The plan also aims to increase the share of processed mineral exports from 46.6% to 57% by the end of the decade.
Namibia’s mining sector is a cornerstone of the national economy, contributing a significant share to GDP and serving as a primary source of foreign exchange through the export of key minerals, including diamonds, uranium, and copper.
The sector also encompasses small-scale mining, which supports livelihoods and community development by reducing poverty and creating employment opportunities. Ithete added that Namibia’s minerals are a national asset. They are the hope for social progression and improved livelihood. It is therefore a collective responsibility to ensure that the exploitation of these resources results in tangible benefits for all Namibians.
“Under my leadership, the ministry is prioritising policy frameworks that strengthen local ownership, build capacity, and promote value addition. We are currently reviewing the Minerals Bill and will soon commence stakeholder consultations, especially in key regions where exploration and mining are taking place. This process is essential to ensure that our laws are fit-for-purpose and reflect the ambitions of an equitable and modern mining industry,” he said.
He further said, Namibia welcomes serious investors who are ready to explore, develop, produce, and reinvest in the economy.
“The Government’s strategic priorities remain clear: value addition, beneficiation, local content development, skills transfer, and employment creation. These are not just policy buzzwords; they are the pillars upon which inclusive and sustainable growth must be built,” he said.