Non-diamond mining operations have emerged as the largest source of mining tax revenue for the Namibian government, signalling a shift in the country’s mining landscape beyond its traditional reliance on diamonds.
According to the Chamber of Mines Review 2025, non-diamond mining tax revenue reached N$2.89 billion in the 2024/25 financial year, far exceeding the N$239.1 million generated from diamond mining tax revenue during the same period.
The figures reflect the growing contribution of commodities such as uranium, gold and copper, which have attracted significant investment in recent years and are increasingly shaping Namibia’s mining sector.
While diamond mining continues to make a substantial contribution through royalties, the latest data suggests the government’s tax base within the mining sector is becoming more diversified.
Diamond royalties generated N$1.16 billion in 2024/25, remaining one of the largest single sources of mining-related government revenue.
The Chamber of Mines review shows that mining revenue as a whole reached N$5.88 billion in 2024/25, up from N$1.64 billion in 2007/08.
Despite the increase in nominal revenue, the sector’s contribution to total government revenue has remained relatively stable over the past two decades.
Mining accounted for 6.3% of total government revenue in 2024/25, compared to 8.3% in 2007/08.
According to the review, the sector’s contribution has fluctuated between 4.4% and 8.3% over the review period.
Government mining revenue is projected to rise further to N$7.02 billion in 2025/26 before moderating to N$5.76 billion in 2026/27.
The findings come as Namibia positions itself for a new wave of mining investment, with several uranium, copper, gold and critical minerals projects advancing towards development.
The growing contribution from non-diamond mining suggests the country’s efforts to broaden its mineral production base are beginning to translate into higher government revenue and a more diversified mining industry.
