Mining industry activity in Namibian Namibia is booming, with the number of new and existing mining companies jumping by almost 30 per cent in the last year.
It’s the result of a boom in the booming mineral industry in Namias North-West region, according to a report published on Monday.
“We are witnessing a boom,” said Mounir Abdifatteh, a mining expert at the North-Western Development Bank.
“The mining boom has been a massive success for Namibia.
And we are witnessing the same in neighbouring Botswana.”
Abdif at the Namib Bank said the mining industry is expanding by at least 20 per cent each year.
“I think it will continue to grow because there is still a lack of resources in the country,” he said.
Botswana is also a big player in the mining sector, having already signed a deal to build a new mine.
It was the first project of its kind in Botswana.
“They (Botswana) have invested a lot of money in this mine, and there is a lot more to come,” said Abdif.
Botswanans mining sector has a history of big successes.
It is estimated that the mining of gold in the region has increased by more than 90 per cent over the last decade, while gold reserves in neighbouring Namibia have increased by about 100 per cent.
Botswans gold reserves have grown by more that $300 million since 2007.
“In Botswana, gold is the primary commodity in the economy.
It has been in the black since the late 1970s.
And now it is getting even bigger.
It will go on increasing in the years ahead,” said Abdullah Khafir, head of Botswana’s Mining Association.
The Namib Mining Association is the national body for mining companies in Botswah, and the majority of its members are based in Botswa.
The report also said Botswana has the most mining permits in the world.
“If Botswana continues to grow its economy, and we see a continued boom in mining, we are looking at a very good situation in Botswanis future,” said Dr Abdif, who has been mining since the 1960s.
“This boom is not confined to Botswana and is very much in the North West.”
The mining boom in Botszaas North-west region is particularly strong in the case of the gold industry, which is the countrys main export.
According to the mining association, Botswana alone has about 40 mining companies, while the South West region has about 60 companies.
“That’s the largest sector of the Botswana economy.
There is a significant number of mining companies operating in Botsia,” said Abdulla Mohamed, executive director of the North South Mining Development Agency.
“A lot of these companies are based on the Botswanas goldfields.
They are creating a lot value for the Botsans and Botswana,” he added.
The mining industry has become so big that Botswana signed a long-term agreement with the International Monetary Fund to invest in infrastructure and to attract foreign investment.
It also aims to diversify its exports to countries like Canada, Australia, and Mexico, which are important to the Botsovan economy.
In addition, Botswanese mining companies have invested in more than 1,000 megawatts of renewable energy projects, and are currently developing the country’s first solar plant.
Botszaan Mining Association President Dr Mohamed said the country was well-positioned to reap the rewards of a booming mining industry.
“Our people have always had a very high standard of living and the gold mining industry was a big factor in that,” he told Al Jazeera.
Abdif said the boom in a small country was helping the country develop a more competitive industry. “
People want to be a part of it, and they want to do it with a positive attitude,” he continued.
Abdif said the boom in a small country was helping the country develop a more competitive industry.
But it also brings its own challenges, such as how to ensure the environment is protected.
“There are concerns around water pollution, air pollution, and mining activity,” he explained.
“But I think we have been very lucky in that there has been no major accidents or spills in the past.”
The report added that Botswanians mining industry faces challenges in terms of technology, training, and security.
“Most of the mining companies are now based in remote areas, so we are facing the challenge of training, security, and infrastructure,” Mohamed said.