Namibia slips in global mining rankings
The Chamber of Mines of Namibia has raised the alarm over the country's steep decline in the 2025 Fraser Institute Annual Survey of Mining Companies, attributing the deterioration primarily to investor anxiety over a proposed 51% local ownership requirement.
Namibia recorded a significant decline in the 2025 Fraser Institute Annual Survey of Mining Companies, falling from 30th out of 82 jurisdictions in 2024 to 51st out of 68 jurisdictions in 2025, a drop of 21 positions in the global rankings. The Investment Attractiveness Index declined by 10 points, from 66 to 56, over the same period.
"Namibia's decline in the Investment Attractiveness Index signals that investor perceptions of our mining policy and regulatory environment have weakened. This is particularly concerning at a time when strong mineral commodity prices are driving significant global investment into high-risk exploration. If Namibia is not considered competitive and predictable, we risk missing out on exploration capital that is critical for discovering the mines of the future," said Chamber President George Botshiwe.
What does the survey measure?
The Investment Attractiveness Index is a composite measure combining two sub-indices: the Policy Perception Index, which assesses the attractiveness of a jurisdiction's mining policies and regulatory environment, and the Best Practices Mineral Potential Index, which measures geological potential under an assumed ideal policy environment. The two components are weighted at 40% and 60% respectively.
Both sub-indices deteriorated in Namibia's case. The Policy Perception Index fell by 10 points, from 78 in 2024 to 68 in 2025, whilst the Best Practices Mineral Potential Index declined by 11 points, from 58 to 47. Within the African context, the results were similarly discouraging. Namibia fell from 4th place out of 20 jurisdictions surveyed in 2024 to 7th place out of 14 jurisdictions in 2025.
The 51% Iithete proposal
The Chamber said it was clear from survey participants' comments that their views on investing were strongly influenced by remarks from the former Minister of Mines, Natangue Iithete, at the 2025 Mining Expo and Conference, where he proposed a policy requiring 51% local ownership in mining companies.
At the time, Iithete said Namibia should stand resolute in its demand for increased shareholding.
"We must stand firm in our demand of a minimum of 51% ownership of all mines, with natural resources vested in Namibians, and diligently advocate for local beneficiation, industrialisation and value addition to take place on Namibian soil," he said.
Iithete argued that greater local ownership is key to meaningful economic growth, skills transfer, and sustainable employment, particularly for women and the country's rapidly growing youth population.
"Only then can Namibians grow the economy meaningfully, transfer skills, and create sustainable employment," he said.
Not government policy
Meanwhile, the government has since clarified its stance, stating that no fixed threshold for local ownership had been set, as proposed by Iithete.
"It is important to clarify that the Government has not set a fixed threshold for local ownership and remains open to consultations with stakeholders to ensure a balanced, win-win outcome that promotes local empowerment without compromising profitability and returns on investment."
