Namibia’s domestic zinc concentrate production declined on a year-on-year basis in the third quarter of 2025, despite recording a modest improvement compared with the previous quarter, according to the Bank of Namibia.
Output stood at 15,027 tonnes during the period under review, representing a 23.5% contraction year-on-year, while production increased by 3.1% quarter-on-quarter.
The Bank of Namibia said the annual decline was largely linked to operational challenges at mining sites.
“The year-on-year decrease in zinc concentrate production was mainly due to a challenging mining area, which made ore extraction difficult and was further aggravated by flooding,” the central bank said.
The quarterly improvement reflected base effects and improved ore quality, with better-grade ore mined during the period supporting the partial recovery in output.
International zinc prices averaged US$2,828 per metric tonne in the third quarter of 2025, posting increases of 1.9% year-on-year and 7.1% quarter-on-quarter, the Bank of Namibia said.
“The improvement in zinc prices was driven by tighter global supply conditions, stemming from production disruptions at major mines, low inventories and rising demand,” it said.
Export earnings from zinc recorded mixed performance during the quarter. Receipts declined slightly by 0.3% year-on-year, but increased sharply by 100.3% quarter-on-quarter, reflecting higher export volumes.
The quarterly increase in export receipts was supported by improved production and shipment volumes during the period.
“The quarter-on-quarter increase in zinc export receipts reflects higher volumes exported, despite weaker annual performance,” the Bank of Namibia said.
Zinc prices increased both year-on-year and quarter-on-quarter during the third quarter, supported by constrained supply conditions in key regions.
The year-on-year price increase was driven by tight supply in Europe, steady demand in Asia excluding China, and elevated premiums in the United States, which led to drawdowns from London Metal Exchange warehouses.
“While zinc recorded a positive quarterly performance, it remains down by 0.6% year to date, with risks linked to potential supply surpluses in 2026 and weaker demand in China,” the Bank of Namibia said.
