Namibia expects firmer estimates of recoverable reserves to be announced this financial year and aid in addressing socio-economic challenges such as unemployment.

President Nangolo Mbumba, who delivered the State of the Nation Address this afternoon, says this follows oil exploration activities by international companies in 2023.

The ban on exports of critical raw materials is seen as an opportunity for the country's two large uranium mines, Rossing and Husab, to add value.

The managers of the mines say the advancement in technology could make it possible for Namibia, but they questioned what measures the government will put in place to ensure that the requirement is met. The managers of Rossing and Husab Uranium mines were asked by member of parliament, Tjekero Tweya, if they were scared of the government's ban on exports of critical raw materials.

The Chairperson of the Parliamentary Standing Committee on Natural Resources has asked uranium mines to be truthful in revealing how much of their budget is spent on electricity and water.

Tjekero Tweya believes the cost of the two utilities is too high in Namibia, and that is among the reasons why uranium mines are not making a bigger impact on the country's development. The mines and energy subcommittee under the Parliamentary Standing Committee on Natural Resources visited various mines in the Erongo Region.