Namibia, the fourth-largest producer of uranium oxide and eighth-largest producer of diamonds globally, possesses vast reserves of precious metals, base metals, and rare earth elements.
As the world transitions to a green economy, the country is gaining prominence as a potential supplier of critical minerals to Europe while implementing policies to enhance local value addition.
Amidst the Global Energy Transition Namibia is swiftly rising as a source of critical minerals crucial for renewable energy technologies like cobalt and lithium.
Lepidico, a global exploration and development company, is currently developing a lithium mine in western Namibia.
They are in discussions with several U.S. companies to maximize Namibia’s lithium potential, exploring by-products such as cesium and rubidium.
In Namibia’s Kunene Region, Celsius Resources has initiated drilling at the Opuwo Cobalt Mining Project, completing the first of eight diamond drilling holes in March 2022.
Andrada Mining also achieved a milestone by producing the first bulk lithium concentrate at the Nai-Nais mine in May, part of an off-site pilot test program.
A Wealth of Rare Earth Metals Namibia boasts a substantial deposit of rare earth metals located in Kalkfield, Otjozondjupa Region.
Announced by the Ministry of Mines and Energy in March 2022, this deposit comprises a proven ore body of approximately 579 million tons, with a cut-off grade of 0.01 to 1.00 percent of rare earth metal-bearing materials.
These promising rare earth deposits are expected to attract significant mining investments as the global energy transition fuels demand for critical minerals essential in renewable energy storage, battery production, and electric vehicles.
In October 2022, the Namibian government reached a provisional agreement to supply rare earth minerals to the European Union, positioning itself as a vital mining hub in Africa and offering an alternative to China as Europe’s primary supplier of critical minerals.
Fostering Local Value Addition Namibia is actively pursuing strategies to generate and retain local value within its mining sector.
A significant move in this direction was the export ban imposed by the Namibian government in June, targeting unprocessed lithium and other critical minerals.
This aligns with Namibia’s ambition to play a prominent role in the global energy transition mineral supply chain, promoting clean energy development worldwide while fostering diversified, value-added industries within its borders.
