Windhoek: Namibia's mining sector remains a cornerstone of the national economy, contributing significantly to national growth and development. In 2024 alone, the industry contributed approximately 13.25 per cent to the country's Gross Domestic Product (GDP), Deputy Executive Director in the Ministry of Industrialisation, Mines and Energy (MIME), Erasmus Shivolo said on Thursday.

According to Namibia Press Agency, speaking at the closing of the 12th Annual Mining Expo and Conference in Windhoek, Shivolo highlighted the significant role mineral resources continue to play in shaping the country's economic trajectory. 'Namibia is rich in mineral resources, and mining is a key driver of our economy, the sector not only contributes to GDP, but also creates jobs and boosts foreign investment,' he said.

Shivolo reaffirmed the government's commitment to supporting the mining industry through a stable and investor-friendly policy environment. 'We have a well-established regulatory framework governing exploration and mining, including the Minerals Act of 1992, which provides legal certainty and predictability for investors,' he noted.

Shivolo said the ministry continues to oversee the sector through policy formulation, regulatory enforcement, and licensing processes that ensure sustainable growth and accountability. He further stated that MIME is actively working on policy updates and reforms to facilitate further growth in mining and to ensure that investors can operate efficiently and profitably.

'The government is committed to facilitating mining growth and updating policies to meet both investor expectations and national development goals,' he added.

The 12th edition of the Mining Expo and Conference brought together local and international stakeholders, mining companies, suppliers, and government officials to showcase innovations, explore investment opportunities, and strengthen partnerships across the mining value chain.