Namibia’s mining industry value forecast to grow

08 Jun, 2014 - 00:06 0 Views

The Sunday Mail

While Namibia holds substantial diamond and uranium reserves among other minerals, the government’s potential to enforce policy to extract greater revenue from the sector remains a key factor to investment.Overall, Namibia’s mining industry value is forecast to grow on average 3,3 percent from an estimated $1,6 billion in 2014 to $1,8billion in 2018.

This will represent a decline in the mining sector’s contribution to GDP from 13 per cent in 2014 to 8 percent in 2018.

The bulk of exploration and mining in Namibia focuses on diamonds, uranium and base metals such as copper, lead and zinc.

A number of major players, including Rio Tinto and De Beers, have exploited the great potential for the exploration and mining of mineral resources.

Diamond Fields International is a Canada-based mining firm involved in the exploration and mining of diamonds, nickel and gold in Liberia, Madagascar, Namibia and Zambia.

Namdeb is a joint venture between De Beers (50 percent) and the Namibian government (50 percent), and is the country’s leading diamond producer.

Vedanta Resources is a major India-based resources player with global reach.

The company recently entered the Namibian market via the acquisition of the country’s largest zinc mine, Skorpion Mine, through its subsidiary Sterlite Industries.

The Namibia Mining Report has been researched at source and features Business Monitor International (BMI)’s mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values.

The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI’s Namibia Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI’s independent forecasts and competitive intelligence on the mining industry in Namibia. – Quickpress/SMR.

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