Economic Association hosts vital discussion on maximizing economic returns from critical minerals
The Economic Association of Namibia (EAN), in collaboration with FNB Namibia and the Hanns Seidel Foundation Namibia, orchestrated a pivotal public discussion at the NAMPOWER Convention Centre under the theme “Optimizing Economic Returns: The Role of Critical Minerals.”
Esteemed leaders and stakeholders converged to deliberate on the prospects of Namibia’s critical mineral discoveries and their pivotal role in enhancing economic returns for the nation.
Jason Kasuto, Chairperson of the EAN, inaugurated the discourse by emphasizing the significance of such platforms in fostering constructive dialogue essential for Namibia’s progress. He underscored the imperative of addressing misinformation and fostering collaborative strategies to propel economic development amidst challenges such as consecutive negative growth periods and the impact of the COVID-19 pandemic.
The event’s keynote address was delivered by Hon. Tom Alweendo, Minister of Mines and Energy, who highlighted the pivotal role of Namibia’s mineral wealth in driving economic growth and development.
He stressed the importance of leveraging critical minerals to achieve sustainable economic development, ensuring that no segment of society is left behind in the pursuit of economic prosperity.
Alweendo emphasized the importance of strategic resource management and collaboration to harness the potential of critical minerals in driving Namibia’s energy transition initiatives.
Zenzi Awases, Managing Director of Empowermine Consulting Services, delivered an insightful presentation, focusing on the imperative of optimizing economic returns from Namibia’s mineral resources. She emphasized the need for sustainable resource management, strategic collaboration, and investment in people to ensure that mining activities lead to economic and social development for Namibia.
The event concluded with a thought-provoking panel discussion moderated by Lameck Odada, which delved into key questions about economic impact, policy and regulation, sustainability, environmental impact, and the outlook of the mining sector. Esteemed experts including Dr. John Steytler, Lauren Graham, Franco Labuschagne, and Dr. Gurvy Kavei shared their perspectives on enhancing Namibia’s economic landscape.
Dr Steytler underscored the importance of maintaining a favorable policy environment to attract foreign direct investment in critical mineral exploration. Lauren Graham emphasized the need for realistic expectations regarding Namibia’s carbon footprint and the development of technologies for mineral processing. Franco Labuschagne highlighted the operational challenges faced by businesses in the extraction industry, while Dr Kavei emphasized the need for Namibia to shape global economic development through active participation in the energy transition.
The public discussion served as a significant platform for fostering dialogue and collaboration among stakeholders to maximize the economic contributions of Namibia’s critical minerals, thereby driving sustainable economic growth and development.
