Staff Writer
The Chamber of Mines of Namibia says strong gold prices and steady demand for uranium and energy-transition minerals helped support Namibia’s mining sector in 2025, despite continued weakness in the global diamond market.
In the mining industry review for 2025, Chamber president George Botshiwe said global commodity markets created a “mixed but generally supportive environment” for Namibia’s mining industry during the year.
Botshiwe said the global economic environment remained uncertain in 2025 due to geopolitical tensions, slower global trade and tight financial conditions, which continued to affect investment markets.
He said uneven economic growth in major economies, especially China, also affected demand for industrial metals, with direct effects on commodity prices, export earnings and capital inflows into Namibia’s mining sector.
Botshiwe said commodity markets showed mixed trends during the year.
He noted that gold prices reached record highs due to geopolitical uncertainty, central bank purchases and increased investor demand for safe-haven assets.
According to Botshiwe, the rise in gold prices provided a strong boost for gold-producing countries such as Namibia.
He said uranium prices eased compared to the strong rally recorded in 2024 but remained at high levels due to growing global demand for nuclear energy as a low-carbon energy source.
Several industrial metals, including copper and tin, also recorded gains during the year, supported by rising demand linked to electrification, renewable energy systems and digital technologies.
Botshiwe said these minerals remain important to the global energy transition and are expected to see long-term demand growth in the coming years.
However, he described 2025 as a difficult year for the diamond market, with prices declining by an estimated 10% to 12%.
He said weaker consumer demand in key markets such as the United States and China, inventory adjustments in the global cutting and polishing sector, and competition from lab-grown diamonds contributed to the decline.
Botshiwe warned that falling diamond prices placed pressure on export earnings and government revenue for diamond-producing countries such as Namibia.
