Namibia Mining Report Q2 2008

Publication Date	May 2008
Publisher	Business Monitor
Product Type	Report
Pages	50
ISBN Number	1755-7852
Product Code	BMI01978

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Summary

Finance minister Saara Kuugongelwa-Amadhila said in early March that she expected Namibia's GDP growth to accelerate to 4.7% in 2008, up from 4% in 2007, as a result of high metal commodity prices.

She said it was expected that four new uranium mines would come onstream over the next three years, adding to the two mines currently in operation.

Namibia is richly endowed with natural resources and is known globally for its uranium and diamond deposits. The country is the world's sixth-largest producer of uranium and among the largest gem-quality diamond producers in value terms. Namibia also features among the top five nations around the globe for its zinc, copper and lead reserves. To expand the revenue earning potential of its mining industry, the Namibian government is making fervent efforts to establish a strong domestic market for diamond cutting and polishing. Taken together, these factors underscore the importance of the Namibian mining industry for its economy.

Richly endowed with natural resources, the Namibian mining industry needs to gain a foothold in certain areas to further enhance its prospects. Lack of water resources is a key factor that discourages investments in the Namibian mining industry. As a result of the nation's underperforming infrastructural facilities, mineral exploration has been slow - constraining the growth of the Namibian mining industry. On the other hand, recognising the vital role uranium is set to play in the country's future, processes have been initiated to revise and amend the Minerals Act, to align regulations that allow judicious exploitation of the resource.

The Ministry of Mines and Energy (MME) is the apex body regulating the Namibian mining industry.

The MME has five directorates: Mines, Geological Survey, Energy, Administration/Finance and Diamond Affairs which govern all aspects related to mineral utilisation and conservation in the country.

Even though the minerals rights are vested in the state, land belongs to private individuals, companies or the government. This means that mineral explorers have to enter into a contract with landowners to gain access for exploration or mining purposes.

Industry Forecast The mining industry of Namibia holds a rather small slice of the global mining pie, but taking into account the uranium and diamond mining potential of the country, BMI forecasts that the mining industry is expected to grow at an annual rate of 6.9% over 2008-2012. The industry is estimated to reach a value of around US$1.44bn by 2012, contributing over 17.8% to the nation's GDP.

Content

Executive Summary .........5 Industry Trends And Developments ..............................................................................................................6 Overview................................................................................ 6 Table: Mines In Namibia ....................................................... 7 Latest Developments .............................................................. 7 Regulatory Structure And Developments ............................... 7 Key Projects....................10 Metals ....................................................................................... 10 Copper ................................................................................. 10 Manganese........................................................................... 12 Lead, Zinc And Silver........................................................... 12 Lead, Zinc And Silver: Latest Developments ....................... 13 Uranium............................................................................... 13 Uranium: Latest Developments............................................ 15 Minerals.................................................................................... 16 Diamonds............................................................................. 16 Diamonds: Latest Developments.......................................... 18 Business Environment ..19 Ratings Overview................................................................. 19 Table: Mining Business Environment Indicators ................. 20 Table: Weighting Of Components ........................................ 21 Regional Overview Africa................................................. 21 Namibia Business Environment Ranking .......................... 22 Table: Middle East And Africa Business Environment Ranking .......................................................................................................................... 22 Limits Of Potential Returns.................................................. 22 Risks To Realisation Of Potential Returns ........................... 23 Political Environment.....24 Industry Forecast Sce25 Metal Price Outlook............................................................. 25 Table: BMI Prices AssumptionError! Bookmark not defined. Regional Analysis ................................................................ 26 Namibia Mining Industry Forecast ................................... 29 Table: Namibia Mining Industry Forecast........................... 29 Competitive Landscape.31 Table: Namibia Mining Key Players................................. 31 Company Monitor...........32 Rssing Uranium................................................................. 32 Namdeb Diamond Corporation (Namdeb)........................... 34 Diamond Fields International.............................................. 36 Appendix: Global Assumptions....................................................................................................................37 Down But Not Out In 2008 .................................................. 37 United States........................................................................ 38 Europe ................................................................................. 40 Japan ................................................................................... 41 China ................................................................................... 42 Commodities ........................................................................ 44 Agricultural Commodities.................................................... 46 Table: Global Assumptions.................................................. 48

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Product features / use

Scope	Expert Insight/Opinion
Level	General Industry Strategies
Data	Detailed Market Forecasts
Profiles	Profiles of Key Companies
Features	Contains SWOT Analysis
Extra Info	Consumer Trends Highlighted