Chinese investment promotes Namibia’s econ. dev’t-  Minister

Chinese investment promotes Namibia’s econ. dev’t-  Minister

Investment

Windhoek, June 19, 2024 (Xinhua/NAN) Namibia’s mining industry is one of the largest contributors to the country’s economy, with Chinese investment playing a significant role in the development of the uranium mining sector.

Minister of Mines and Energy, Tom Alweendo, said this at a press conference held in Windhoek the capital of Namibia.

In 2023, the mining sector contributed up to 14.4 per cent of Namibia’s gross domestic product, Alweendo said.

He said that Chinese investment has been instrumental in establishing Namibia as one of the world’s largest producers of uranium.

Alweendo said, A“I am honored to be here today to recognise the Rossing uranium mine, the longest-operating and largest open-pit uranium mine in the world, with more than 40 years of operation.

 “I hope you will continue to operate for another 40 years.”

In 2019, Anglo-Australian mining giant Rio Tinto officially handed over Rossing to China National Uranium Corporation Limited (CNUC) that holds 68.62 per cent of its equity.

The CNUC released a report at the conference, detailing the company’s actions and contributions over the past year toward Namibia’s economic, environmental and social sustainable development.

Chinese Ambassador to Namibia, Zhao Weiping, expressed optimism about Chinese investments in the southern African country in the future, saying that more Chinese enterprises are expected to seek investment opportunities in Namibia this year.

”Chinese investment aligns with the interests of both countries and their peoples, and bilateral cooperation has promising prospects,” he said.  (Xinhua/NAN)(www.nannews.ng)

UMD/BRM

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Edited by Ummul Idris/Bashir Rabe Mani