Mining sector looks promising: NSA

06 Feb 2014 15:30pm
WINDHOEK, 06 FEB (NAMPA) - The future of the mining sector looks promising with the ongoing development of the Husab uranium, Otjikoto gold and Tschudi copper mines, the Namibia Statistics Agency (NSA) says.
In its ‘Sectoral Report’ issued here on Wednesday, the NSA indicated that uranium showed the strongest increase in output compared to January 2008, exceeding the output level of the base month (January 2008) for almost every month in 2013.
The average index for uranium in 2013 stood at 123.
The report said zinc recorded an average index of 115, and missed the output level of the base month only in June and July 2013.
“The other minerals remained below output levels seen in January 2008,” it added.
Gold experienced a weak first half in 2013, with output averaging just 83 per cent of the reference month.
Gold output increased during the second half with an average of 112 per cent, which was not enough to level-out the first half and lift production beyond 100 for the whole year.
The output of copper and diamonds fluctuated throughout the year without a clear trend, but remained always below the output of the reference month, and closed the year with an average of 75 per cent of production in January 2008.
“Diamond-mining is affected by demand-side factors caused by weak global economic growth, despite increasing demand in China and India, and the copper sector is restricted by the supply-side since the Kombat mine remains closed,” the report said.
The Kombat Mine was one of the most significant copper mines in Namibia, and its historic production was 8.7 million tonnes of copper at an average grade of 3.3 per cent plus silver, lead and zinc.
That mine was operational from 1962 to 2009, with few interruptions.