Gold and Uranium Earn More Than Diamonds From Exports in First 5 Months of 2026

Uranium and gold has generated higher export earnings than diamonds between January and May 2026, reflecting their contribution to Namibia's mineral exports, according to the Chamber of Mines of Namibia's 2026 Mining Insights booklet.

Uranium has generated N$10.7 billion in export earnings during the five-month period, while gold brought in N$8.7 billion. Diamond exports stood at N$4 billion.

Gold's performance comes amid stronger international prices, with the metal averaging US$4,694.10 per ounce in June 2026, representing a 36.4% increase on its 2025 average. Diamond prices, however, declined by 15.81% year-on-year.

The Chamber's data also show an increase in tax contributions from the mining industry, with its members paying N$7.805 billion in taxes during 2025, representing a 39% increase from the previous year. Gold company income tax accounted for much of the increase, according to the Chamber.

However, stronger export earnings and higher tax contributions come against a contraction in mining activity. Mining and quarrying Gross Domestic Product (GDP) declined by 12.2% in the first quarter of 2026, while the average mining production index fell by 15% during the first five months of the year.

This links to the decline in mining production, driven by Otjikoto Mine's transition to underground operations, maintenance work and vessel decommissioning at Debmarine Namibia, as well as weaker zinc output, according to datas.

Uranium production, however, increased following the ramp-up at Langer Heinrich Mine, the Chamber's reported.