{"id":21226,"date":"2025-12-17T09:56:19","date_gmt":"2025-12-17T07:56:19","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/gold-uranium-boost-namibias-tax-revenue-after-diamond-prices-plunge\/"},"modified":"2026-02-27T16:32:20","modified_gmt":"2026-02-27T14:32:20","slug":"gold-uranium-boost-namibias-tax-revenue-after-diamond-prices-plunge","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/gold-uranium-boost-namibias-tax-revenue-after-diamond-prices-plunge\/","title":{"rendered":"Gold, uranium boost Namibia&#8217;s tax revenue after diamond prices plunge"},"content":{"rendered":"<div>\n<p class=\"x_MsoNormal\"><span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">Namibia&#8217;s diamond revenue has been surpassed by income from other minerals for the first time, the country&#8217;s mining chamber said, with record gold prices and higher uranium output helping to offset the impact of weak gem prices.<\/span><\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\"><span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">Diamond income has traditionally boosted Namibia&#8217;s state coffers, accounting for about 30% of export earnings.\u00a0<\/span><\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">But the natural diamond industry has faced a price decline since mid-2022, largely owing to growing popularity of lab-grown gems.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Tax revenue from diamonds in the six months to September was down 79% year on year, after falling 49% in the previous financial year, according to the country&#8217;s tax collector.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">&#8220;As a result, non-diamond mineral revenues have surpassed diamond revenues for the first time, reinforcing a structural shift towards a more diversified and resilient mining revenue base,&#8221; the Chamber of Mines of Namibia said in its report for October, published late on Tuesday.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\"><span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">Tax revenue from other minerals, mainly uranium and gold, rose $171.09 million in the past financial year, almost double the original budget estimate.\u00a0<\/span><\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\"><span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">&#8211;Reuters&#8211;<\/span><\/p>\n<\/div>\n","protected":false},"featured_media":13037,"template":"","meta":{"_acf_changed":false},"news-type":[78,44],"class_list":["post-21226","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-featured","news-type-finance","entry"],"acf":{"short_description":"","published_date":null,"news_description":"Namibia's diamond revenue has been surpassed by income from other minerals","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/21226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/21226\/revisions"}],"predecessor-version":[{"id":24977,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/21226\/revisions\/24977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/13037"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=21226"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=21226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}