Mining is the biggest contributor to Namibia’s economy in terms of revenue. It accounts for 25% of the country’s income. Its contribution to the Gross Domestic Product (GDP) is also very important and makes mining one of the largest economic sectors of the country. The majority of revenue comes from diamond mining.
Namibia has various natural resources including diamonds, uranium, copper, gold, lead, tin, lithium, cadmium, zinc, salt and vanadium. Diamond and uranium mining are by far the two most vital industries in Namibia.
The African nation is the world’s sixth biggest uranium miner, behind Kazakhstan, Canada, Australia, Niger and Russia.
Uranium mineralization was first discovered in the Namibia’s Rössing Mountains, Namib Desert, in 1928 by Capt. G. Peter Louw. Uranium exploration officially started in the 1960s with Rio Tinto obtaining exploration rights for the Rössing deposit in 1966. It started production in 1976.