{"id":379741,"date":"2025-08-05T21:00:00","date_gmt":"2025-08-05T19:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=379741"},"modified":"2025-08-05T17:48:37","modified_gmt":"2025-08-05T15:48:37","slug":"mining-sector-generated-n52-3-billion-in-revenue-in-2024","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=379741","title":{"rendered":"Mining sector generated N$52.3 billion in revenue in 2024"},"content":{"rendered":"\n

Staff Reporter<\/p>\n\n\n\n

THE mining sector recorded N$52.3 billion in revenue last year, contributing 13.3% to Namibia\u2019s Gross Domestic Product (GDP).<\/p>\n\n\n\n

This was highlighted by Carlo Lord Muhamed McLeod, Deputy Head of the Upstream Petroleum Unit in the Presidency, who was speaking on behalf of President Netumbo Nandi-Ndaitwah. He made these remarks at the opening of the Chamber of Mines Mining Expo and Conference, held at the Windhoek Showgrounds. He described the mining industry as a cornerstone of Namibia\u2019s economy, noting its crucial role in job creation and economic development.<\/p>\n\n\n\n

\u201cThe industry generated N$52.3 billion in revenue, contributed 13.3% to our GDP, and created over 2,600 new jobs, bringing total direct employment to 20,843 \u2014 a 14.6% increase from the previous year,\u201d McLeod said.<\/p>\n\n\n\n

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Photos: Chamber of Mines Namibia<\/p>\n\n\n\n

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He further highlighted the sector\u2019s strong local economic impact, particularly through procurement and fiscal contributions. He noted that the industry contributed N$5.62 billion to the national fiscus through taxes, royalties and levies.<\/p>\n\n\n\n

\u201cIn 2024, mining companies spent N$23.94 billion on goods and services from Namibian businesses, representing 46.2% of the industry\u2019s total revenue and 62% of total procurement. This level of local procurement is a powerful driver of inclusive economic growth, supporting thousands of Namibian-owned enterprises across the country. The sector also contributed N$5.62 billion to the national fiscus through taxes, royalties and levies, despite a decline from the previous year due to weaker diamond revenues. This includes N$3 billion in corporate taxes, N$2.26 billion in royalties, and N$360 million in export levies,\u201d McLeod said.<\/p>\n\n\n\n

Despite global economic uncertainty and geopolitical challenges, he noted that Namibia\u2019s mining sector continues to show resilience and long-term promise. He emphasised the country\u2019s growing reputation as a leading African destination for mining investment.<\/p>\n\n\n\n

\u201cThis investor confidence is clearly reflected in the actions of Chamber of Mines members, who increased their total exploration expenditure by an impressive 38.1% in 2024. This represents a total of N$1.23 billion \u2014 a record since independence,\u201d McLeod added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Staff Reporter THE mining sector recorded N$52.3 billion in revenue last year, contributing 13.3% to Namibia\u2019s Gross Domestic Product (GDP). This was highlighted by Carlo Lord Muhamed McLeod, Deputy Head of the Upstream Petroleum Unit in the Presidency, who was speaking on behalf of President Netumbo Nandi-Ndaitwah. He made these remarks at the opening of …<\/p>\n","protected":false},"author":10,"featured_media":379742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-379741","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"\nMining sector generated N$52.3 billion in revenue in 2024 - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"THE mining sector recorded N$52.3 billion in revenue last year, contributing 13.3% to Namibia\u2019s Gross Domestic Product (GDP).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=379741\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mining sector generated N$52.3 billion in revenue in 2024 - 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