Modern Mining March 2024

MINING IN NAMIBIA

Riding the green wave: the future of mining in Namibia By: John Sisay, CEO of Ongopolo Mining With some of the world’s largest unexplored reserves of lithium, copper, and uranium, Namibia’s mineral resources are essential in our net-zero carbon world. Though this is also true for other countries in the region, such as South Africa and Zimbabwe, what sets Namibia apart is its gov ernment’s sustainability driven mining regulation and reliable energy sup ply. The combination of rich deposits, power that stays on, and forward thinking policies create fertile ground for investment.

John Sisay, CEO of Ongopolo Mining.

N amibia should serve as a model for other African countries. The blend of resource pro tection, progressive regulation, environmental consciousness and community engagement forms the recipe for drawing foreign investment into Africa’s mining sector. This not only cultivates growth within the nation and the wider region but also solidi fies Namibia’s standing as a regional leader in this context. What makes lithium, copper and uranium, among Namibia’s other mineral resources, the minerals of the future? Lithium and copper are key components in the production of items powered by electricity – from electric vehicles to wind turbines. They are also key components in the production of items that are increasingly central to the global energy transition; while uranium is the fuel most widely used to gener ate nuclear power. As global demand for renewable energy technologies and high-tech appliances grows, these minerals are becoming increasingly critical. Despite a temporary market downturn, the

future trajectory points towards a significant rise in demand. By 2025, renewables will provide 10 799 TWh per year - 35 per cent of total global electricity demand. Namibia appears to be the next hotspot for the African gold rush; however, there are still significant changes required to grasp the opportunity ahead. To realise the sector’s full potential, substantial investment is needed in production and smelting infrastructure for green mineral extraction to keep up with regu lations and global demand.

Mining has long been a cornerstone of Namibia’s economic landscape. Since the passage of the Minerals Act, thirty years ago, the government has played a central role in the industry, growing to the

Residual Heap leach at the SX and EW plants.

heights it has reached today. And this is no coincidence. Mining makes up 10% of Namibia’s GDP every year, serving as a key source of foreign exchange revenue. The sector plays a pivotal role in job and wealth creation and has consistently dem onstrated robust and steady growth. Indicatively, the min ing share of Namibia’s GDP grew from $6.35 billion in the first quarter of 2023 to $6.62 billion in the second quarter. This share of GDP is set to grow further with Namibia’s decision to ban the export of unprocessed ore. The

14  MODERN MINING  March 2024