Namibia has reported its highest mineral exploration expenditure on record, with N$1.23 billion (US$64 million) invested in 2024 in collaboration with international partners.
President Netumbo Nandi-Ndaitwah said members of the Chamber of Mines increased exploration spending by 38.1% compared with 2023. The growth was led by the uranium and gold sectors, as demand for uranium rises globally amid renewed interest in nuclear power for decarbonisation and energy security.
“The recent recommissioning of the Langer Heinrich Uranium Mine, along with accelerated developments at the Tumas and Etango uranium projects, signals a new era of growth,” she said.
The president emphasised that Namibia’s mineral wealth must be harnessed not only for export earnings, but to deliver tangible benefits to Namibians. Between 60% and 80% of 2024’s exploration spending went towards locally-produced goods and services, which she described as essential for building strong domestic supply chains and creating skilled jobs.
Nandi-Ndaitwah’s vision for the sector is anchored in modernising the legal framework to make Namibia a competitive and responsible mining destination. The new Minerals Bill, now in its final stages, aims to provide greater regulatory certainty, attract sustainable investment, and promote value-addition within the country rather than exporting raw minerals.
She has also stressed the importance of balancing growth with environmental stewardship and community development, ensuring that mining projects contribute to infrastructure, education, and long-term economic resilience.
Officials say the government’s strategy is designed to position Namibia as a key supplier of critical minerals for the global energy transition, while ensuring that the benefits are felt widely across the economy.
