Translating minerals resources wealth into real development for Namibia
Namibia is a resource-rich country with political stability and a very attractive investment environment. But today Namibia stands on the threshold of an era that could bring even greater change. The extensive mineral exploration currently underway has the potential to boost the country’s development in so many areas, from unemployment to infrastructure and to health. To achieve this, however, will require careful, proactive planning and coordination among corporations, Government, and local communities.
The country owes its economic stability to its mineral resources industry with mining being the biggest contributor to the economy in terms of revenue. It accounts for 25% of the country’s income. Its contribution to the gross domestic product is also very important and makes it one of the largest economic sectors of the country. However the mining industry has seen a decline in international commodity prices, especially Uranium, leading to several uranium projects being abandoned; however the prices are expected to rise over the next 3 years due to increase nuclear activities in Japan and China. Namibia’s mining industry is expected to reach US$1.79bn by 2018.
The government of Namibia is working toward maximizing the economic potential through the development of its mineral resources wealth. Namibia Mineral Resources 2014 aims to attract investment and increase development into Namibia’s resources sector by bringing together Namibia resources companies, with global and local institutions looking for business opportunities.
Date: 29 Sep -1 Oct, 2014
Contact: Melissa Morgan