Uranium and gold sustain Namibian mineral exports

Money kept flowing because uranium and gold carried the load while diamonds kept dragging, showing Namibia’s mining story runs on diversification rather than loyalty to one shiny rock.

Mining performance snapshot

• Namibia rode uranium and gold through uneven markets.
• Saw exports and confidence propped up by those metals.
• Watched diamonds keep slipping under weak demand.
• Felt split results across commodities.

Export leaders by month

• Uranium dominated exports during October.
• Took roughly a third of the total shipments.
• Gold jumped ahead the following month.
• Claimed just over a fifth share.

Why gold and uranium held up

• Central banks piled into gold during geopolitical stress.
• Prices climbed and steadied sector earnings.
• Nuclear fuel demand stayed firm globally.
• Helped offset diamond losses.

Other metals in the mix

• Copper demand rose with electrification spending.
• Tin followed infrastructure and renewables investment.
• Copper prices sat far above prior averages.
• Added background support to mining revenues.

Diamonds losing momentum

• Diamond prices slid throughout the year.
• Faced persistent global demand weakness.
• Ended the year on a sour note.
• Undercut earlier expectations.

Industry outlook ahead

• Veston Malango pointed to diversification as survival fuel.
• Flagged uranium as the next growth engine.
• Expected gold prices to keep helping revenues.
• Forecast steadier exports if trends hold.