A sharp decline in gold production weighed heavily on Namibia’s mining sector in January 2026, offsetting gains in diamond output and contributing to an overall contraction in annual performance.
Data from the Namibia Statistics Agency (NSA) shows that gold bullion production fell by 23.6% month-on-month to 635 kilograms, down from 831 kilograms recorded in December. On a year-on-year basis, output declined by 28.6% from 889 kilograms.
The drop in gold production was the steepest among key commodities and played a central role in the sector’s overall slowdown.
Despite a marginal 0.04% increase in the Mining Production Composite Index on a monthly basis, the index declined by 11.6% compared to January 2025, reflecting weaker output across most minerals.
Diamond production provided the only significant support, rising by 14.8% month-on-month to 205,453 carats. However, output remained 14.9% lower than the same period last year.
Uranium production declined by 11.5% during the month to 936 tonnes, although it remained 17.5% higher than January 2025 levels.
Zinc output also contracted, with production of zinc concentrate and contained zinc falling by 18.7% month-on-month to 5,882 tonnes, representing a 3.7% annual decline.
The figures point to uneven performance across Namibia’s mining sector, with gold emerging as the primary drag on output at the start of the year.
The decline comes after strong growth recorded in late 2025, suggesting a normalisation in production levels amid operational and commodity-specific pressures.
The data underscores the sector’s sensitivity to fluctuations in individual commodities, with gold’s decline highlighting the extent to which single-mineral performance can influence overall mining output.
