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Namibia’s mining sector is strengthening its position at the centre of the country’s economic growth strategy, contributing 14% of GDP and generating N$7.8 billion in tax revenue in 2025 as government looks to leverage a new wave of investment across gold, uranium and other minerals.
Mining tax revenue rose 39% from N$5.6 billion in 2024, according to government data released on 5 August 2026, providing a stronger fiscal platform as Namibia seeks to turn its mineral wealth into broader economic growth and employment. The increase was supported by stronger gold production and favourable international prices. Mining royalties rose 9% to N$2.4 billion while export duties almost doubled, increasing 90% to N$685 million.
The latest figures also point to a changing structure within Namibia’s mining economy. While diamonds remain important, gold, uranium and base metals are becoming increasingly significant contributors to government revenue, potentially giving the sector a broader and more resilient foundation for growth. Corporate income tax from non diamond mines is forecast to reach N$4.4 billion in the 2025/26 financial year, representing a 54% increase. Gold, uranium and base metals are expected to account for much of the growth, while diamond related tax revenue is projected to fall 69% to N$74 million.
The shift comes as Namibia prepares for a new investment cycle in uranium. The country remains the world’s third largest uranium producer, with projects including Bannerman Energy’s Etango and Deep Yellow’s Tumas expected to lift production through the second half of the decade and into the 2030s. Government is now looking beyond production and fiscal returns, with President Netumbo Nandi Ndaitwah calling for greater local processing to ensure more of the value generated from Namibia’s mineral resources remains in the domestic economy.
The investment pipeline is substantial. Through the Namibia Public Private Forum, the mining industry has committed to mobilising $2.8 billion in new investment and creating more than 18,000 direct jobs. That commitment comes as Namibia seeks to deliver the objectives of its 6th National Development Plan, which targets the creation of 500,000 jobs and places economic diversification and private sector investment at the centre of the country’s development agenda.
The scale of the opportunity is therefore extending beyond the mine gate. Rising tax revenues provide government with additional fiscal value, while new projects offer the prospect of expanded production, employment, infrastructure development and industrial activity. The next phase of mining growth will be measured by how effectively that investment translates into domestic value creation. With gold and uranium gaining greater weight in the revenue mix and billions of dollars in prospective investment, mining is increasingly being positioned as a platform for Namibia’s next phase of economic expansion.
