Namibia’s strategy to scale up gold production is accelerating as the Kokoseb Gold Project moves toward development, with project promoters seeking $475 million in construction financing. WIA Gold is targeting first gold production in the fourth quarter of 2028 at the Erongo Region deposit, where it operates an 80/20 joint venture alongside Namibia’s state-owned Epangelo Mining Company. As reported by Ecofin Agency, securing this capital milestone represents a decisive step in transitioning Kokoseb from a major mineral discovery into an operating asset.

Kokoseb’s scale makes it a significant addition to Namibia’s mining landscape. Driven by a mineral resource base exceeding 2.9 million ounces, the mine plan targets 1.83 million ounces of gold recovery over an initial 11-year mine life, with output averaging 177,000 ounces annually during the first five years of production. The conventional open-pit and carbon-in-leach (CIL) design benefits from nearby grid and transport infrastructure in the Erongo Region. State involvement via Epangelo ensures direct national equity participation in the project’s success.

The broader challenge for Windhoek is ensuring that Kokoseb contributes directly to in-country value retention and industrial linkage rather than operating as an isolated export enclave. While a operating mine will generate royalties and tax revenue, maximum impact depends on local procurement, supply-chain participation, and specialized skills development. As WIA Gold finalizes project financing, Kokoseb serves as a key test case for Namibia’s strategy to translate resource potential into sustainable, broad-based domestic economic capacity.

PHOTO SOURCE: Ecofin Agency
Author: George Rainey.