WINDHOEK, July 12 — Namibia‘s mining industry generated a total revenue of 51.4 billion Namibian dollars (about 2.89 billion U.S. dollars) in 2024, representing a marginal 0.4 percent decrease from the previous year.

This slight decline was primarily attributed to lower revenues from diamond mining, according to the Chamber of Mines of Namibia‘s 2024 Annual Review, released Friday. Veston Malango, chief executive officer of the Chamber of Mines of Namibia, presented the review, which offers a comprehensive overview of the sector’s performance, challenges, and strategic outlook.

Despite the minor dip in overall revenue, Malango said the mining sector remained a significant contributor to the national fiscus.

In 2024, the industry paid 3.008 billion Namibian dollars in corporate taxes, 2.256 billion in royalties, and 360 million in export levies.

Furthermore, the sector demonstrated robust employment growth, with direct jobs increasing by 14.6 percent to a total of 20,843 positions, he noted.

“We remain committed to advocating for policies that support the sustainable growth of mining,” Malango said. Looking ahead, the chamber remains committed to fostering a stable, globally competitive, and sustainable mining sector, he said, adding that this will be achievable through ongoing collaboration with government and industry partners.

“The Chamber will keep an open dialogue on key policy issues, including the draft Minerals Bill, proposed government free-carry shareholding, and critical infrastructure development,” he added.

Namibia‘s mining industry continues to make a significant contribution to the country’s economy, accounting for 13.3 percent of the gross domestic product. (Xinhua)

WINDHOEK, July 11 — Namibia‘s annual inflation rate stood at 3.7 percent in June, down from 4.6 percent recorded in the same month last year, according to the Namibia Statistics Agency (NSA). The NSA said in its Consumer Price Index (CPI) bulletin released Thursday that the monthly inflation rate remained flat at 0.0 percent, compared to 0.2 percent in May.

The main contributors to the annual inflation were food and non-alcoholic beverages, alcoholic beverages and tobacco, and housing, water, electricity, gas and other fuels, each contributing between 1.0 and 1.3 percentage points to the overall rate, Statistician General Alex Shimuafeni said in the report.

The bulletin noted a significant deflation in the transport category, which recorded a -2.2 percent rate compared to an 8.3 percent increase in June 2024.

According to the bulletin, the decline was mainly attributed to falling fuel prices, with petrol and diesel dropping by 10 percent year-on-year.

“Core inflation, which excludes volatile items such as food and energy, was recorded at 4.2 percent,” it added. The bulletin showed that food inflation remained elevated at 6.4 percent, driven by price increases in meat, fish, vegetables, and cooking oils.

The cost of beef rose by 14.6 percent, and vegetables such as spinach and beetroot recorded price increases exceeding 30 percent. (Xinhua)