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First wind farm slated for 2016

Construction of the first wind farm is expected to start in the second or third quarter of this year with the potential involvement of the Lüderitz Town Council according to Alexandre Matton, a project engineer involved with local solar company, Innosun. Explaining the detail to the Economist, Matton said Innosun …

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Economic growth slows to 3.5% year on year

The Namibia Statistics Agency (NSA) released its gross domestic product (GDP) report for Quarter 3 of 2015. Real economic growth slowed to just 3.5% year-on-year during the period from an upwardly revised estimate of 6% year-on-year for the second quarter the GDP numbers showed. Commenting on the results, analysts PSG …

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De Beers to Cut 2016 production amid Anglo American overhaul

De Beers expects diamond production to fall to between 26 and 28 million carats in 2016 from 29 million carats this year as the mining giant outlined its view of the ‘stock crisis’ affecting the industry. The decline in rough and polished diamond prices has stemmed from a build-up of …

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