Mining to Boost Namibian Economy

27 May 2010 (Last Updated May 27th, 2010 18:30)

Namibia’s economy is expected to grow 4.4% this year as a result of the rebound of mining in the region, according to the International Monetary Fund. The country’s economy contracted 0.8% in 2009 after gaining 4.3% a year earlier as mining production fell by half. Namibia is th

Namibia’s economy is expected to grow 4.4% this year as a result of the rebound of mining in the region, according to the International Monetary Fund.

The country’s economy contracted 0.8% in 2009 after gaining 4.3% a year earlier as mining production fell by half.

Namibia is the world’s largest producer of offshore diamonds and is also Africa’s second-biggest producer of uranium with mines operated by Paladin Energy and Rio Tinto.