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Mining supports economy in 2020, despite recording negative growth – report
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Despite mining being one of the few sectors that supported the economy in 2020, the industry recorded a negative growth rate of 14.5%, Chamber of Mines President, Zebra Kasete said at the institute’s 42nd Annual General Meeting this week.
Apart from Namib Lead and Zinc mine, there were thus no other retrenchments that occurred as a result of the pandemic, Kasete said in his mining industry review for 2020.
“Initial growth projections for the mining industry in 2020 stood at 11.1%. However, the preliminary National Accounts released by the Namibia Statistics Agency show that the industry recorded a negative growth rate of 14.5%. This was a further contraction from the negative growth rate of 9.5% posted in 2019,” he said. ....

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