Namibia has dropped sharply in global mining investment rankings, with industry leaders warning that policy uncertainty is weighing on investor confidence.
The decline follows the release of the 2025 Fraser Institute Annual Survey of Mining Companies, which shows Namibia falling from 30th out of 82 jurisdictions in 2024 to 51st out of 68 in 2025.
Chamber of Mines of Namibia President George Botshiwe said the drop reflects growing concern about the country’s policy and regulatory environment.
“Namibia’s decline in the Investment Attractiveness Index signals that investor perceptions of our mining policy and regulatory environment have weakened,” Botshiwe said.
The country’s Investment Attractiveness Index fell by 10 points, from 66 in 2024 to 56 in 2025, driven by declines in both policy perception and mineral potential indicators.
Within Africa, Namibia also slipped from 4th position out of 20 jurisdictions in 2024 to 7th out of 14 in 2025.
The index combines the Policy Perception Index and the Best Practices Mineral Potential Index, weighted at 40% and 60% respectively.
Namibia’s Policy Perception Index declined from 78 points to 68, while the Best Practices Mineral Potential Index dropped from 58 to 47 over the same period.
Survey respondents pointed to policy uncertainty as a key concern, particularly around proposed ownership requirements and legislative changes affecting the mining sector.
Concerns were raised about statements linked to potential 51% local ownership requirements, as well as proposed reforms to legislation governing water, environmental management and minerals.
Industry participants warned that such developments could deter investment at a time when global mining capital is increasingly competitive.
“This is particularly concerning at a time when strong commodity prices are driving global investment into exploration. If Namibia is not seen as competitive and predictable, we risk missing out on exploration capital,” Botshiwe said.
Government has since moved to clarify its position on local ownership following engagements with industry and the Office of the President.
The National Planning Commission said no fixed threshold for local ownership has been set and that consultations with stakeholders will continue.
“Government has not set a fixed threshold for local ownership and remains open to consultations with stakeholders to ensure a balanced outcome that promotes local empowerment without undermining investment,” the Commission said.
The Chamber said the clarification offers some reassurance but warned that restoring investor confidence will require consistent policy direction and sustained engagement with industry.
The decline comes as Namibia competes for exploration and development capital amid increased global interest in critical minerals and energy transition resources.
