A Legal overview of Namibia's Mining Industry

Abstract

Namibia has since gaining its independence managed to build a strong mining industry and a solid regulatory framework to govern it. Many foreign investors have looked to Namibia’s mining industry to invest in this growing sector over the years. However, the 2008 global economic recession saw the mining industry of Namibia suffering tremendously from the diminishing ore reserves and low commodity prices. However, in spite of these challenges, the mining industry has continued to attract foreign investments into the industry. This has also come with its share of implications which are felt by the sector as a whole. This research raises the need for the government of Namibia to amend existing legislation on mining and introduce laws and policies that will aid in overcoming these challenges. In the light of the above, this study argues that while there has been a recent decline in the mining sector of Namibia since 2008 as a result of diminishing ore reserves and low commodity prices, which have negatively affected the mining industry in Namibia, the amendment of the laws in extant and enactment of new ones with improved policies could turn the evil tide presently besetting the mining companies and the Namibian mining industry as a whole.