Mining sector invests billions in Namibia: Malango

17 Feb 2017 18:10pm
WINDHOEK, 16 FEB (NAMPA) – Namibia’s mining sector, over the past five years, invested more than N.dollars 37 billion in the national economy.
Chamber of Mines of Namibia Chief Executive Officer, Veston Malango made this announcement on Wednesday during the launch of the Namibian Mining Expo and Conference 2017.
Scheduled for the 26th and 27th April in Windhoek, the event will be held under the theme ‘Reaping the benefits of mining investments’.
“The second largest open pit uranium mine in the world, Swakop Uranium’s Husab mine, has invested the biggest portion of US.dollars 2 billion (about N.dollars 26 billion) from 2012 to 2016,” he said.
Husab mine is located near Swakopmund in the Erongo Region.
Malango noted that the second gold mine in the country, B2Gold Otjikoto near Otjiwarongo, invested about N.dollars 5.2 billion, while Dundee Precious Metals’ sulphuric acid plant in Tsumeb invested approximately N.dollars 3.1 billion.
The first gold mine is Navachab near Karibib in the Erongo Region.
Weatherly’s Tschudi copper mine in Tsumeb invested approximately N.dollars 1 billion, while the Ohorongo Cement Plant near Otavi invested about N.dollars 132 million.
Namdeb Diamond Corporation reinvestments for its Red Area complex stands at about N.dollars 183 million, and the Sendeligsdrif Diamond mine stands approximately at N.dollars 431 million.
Through its diamond exploration and sampling vessel, mv SS Nujoma, Debmarine Namibia invested about N.dollars 1.8 billion.
Namibia’s mining sector includes diamonds, uranium, zinc, copper, gold, lead dimension stone, salt and variety of semi-precious stones.
The chamber has 117 members as of December 2016.