Namibia’s mining sector expected to perform better – News Ghana
Namibia’s mining sector growth would outperform regional peers over the coming years, according to a research firm’s outlook.
The main driver of this growth will be the country’s uranium sector, which will primarily be boosted by rising production at the Husab mine, Fitch Solutions Macro Research said in the Africa Monitor outlook report released Wednesday.
The Husab mine has had a significant impact on Namibia’s mining sector since coming online in 2017, Fitch claimed.
According to Fitch, the Husab mine currently produces approximately 3 metric kilotons (kt per year of uranium while aiming to ramp this up to 5.5 kt of uranium this year, which would be the mine’s expected full capacity.
“However, we believe this figure is more likely to be reached in 2020. Nevertheless, once the mine does reach full production it will reinforce its place as the second-largest uranium-producing mine in the world,” Fitch added.
Fitch is also of the view that the ramp-up of production at the country’s Husab uranium mine will be the key driver of output and industry growth.
Furthermore, Fitch said that the country also has various other new mining projects in the pipeline, and with a solid operational environment underpinned by a favorable regulatory environment, they will further support the positive growth outlook ahead. Enditem