STORY: Chinese investment strongly promotes Namibia's economic development: minister
SHOOTING TIME: June 18, 2024
DATELINE: June 20, 2024
LENGTH: 00:02:24
LOCATION: Windhoek
CATEGORY: ECONOMY

SHOTLIST:
1. various of the launch of Rossing's 2023 Sustainability and Performance Report
2. SOUNDBITE (English): TOM ALWEENDO, Namibia's Minister of Mines and Energy
3. various of the event

STORYLINE:

Namibia's mining industry is one of the largest contributors to the country's economy, with Chinese investment playing a significant role in the development of the uranium mining sector, Minister of Mines and Energy Tom Alweendo has said.
   
In 2023, the mining sector contributed up to 14.4 percent of Namibia's gross domestic product, Alweendo said Tuesday at a press conference held in Windhoek, the capital of Namibia. He noted that Chinese investment has been instrumental in establishing Namibia as one of the world's largest producers of uranium.
   
"I am honored to be here today to recognize the Rossing uranium mine, the longest-operating and largest open-pit uranium mine in the world, with more than 40 years of operation," Alweendo said. "I hope you will continue to operate for another 40 years."

SOUNDBITE (English): TOM ALWEENDO, Namibia's Minister of Mines and Energy
"Mining still continues to be the biggest contributor to the economy. Most of the Chinese investors in the mining sector actually are in the uranium sector. I think with that growth, certainly the Chinese investment has contributed a lot to Namibia becoming actually increasingly one of the biggest producers of uranium globally. So it's something great. And therefore we do appreciate that investment."

In 2019, Anglo-Australian mining giant Rio Tinto officially handed over Rossing to China National Uranium Corporation Limited (CNUC) that holds 68.62 percent of its equity.
   
The CNUC released a report at the conference, detailing the company's actions and contributions over the past year toward Namibia's economic, environmental and social sustainable development.
   
Chinese Ambassador to Namibia Zhao Weiping expressed optimism about Chinese investments in the southern African country in the future, saying that more Chinese enterprises are expected to seek investment opportunities in Namibia this year.
   
Chinese investment aligns with the interests of both countries and their peoples, and bilateral cooperation has promising prospects, he said.

Xinhua News Agency correspondents reporting from Windhoek.
(XHTV)