The mining sector has shown a decline in revenue from N$51,572 to N$51,382 billion in 2024.

This is contained in the Chamber of Mines' 2024 Annual Review.

The Chief Executive Officer at the Chamber of Mines, Veston Malango, says despite the decline, the industry performed well, as it contributed 13.3% to the Gross Domestic Product.

"Overall I think we performed very well. We had challenges in the diamond sector because of the depressed market conditions. Our major market for diamonds is the US and China, and diamonds are a luxury commodity, so when times are hard, the brakes are pressed on luxury commodities, and that has been compounded by the emergence of synthetic diamonds. That is the major reason."