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Chinese investment fuels Namibia’s uranium boom, drives economic growth: Namibian president

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      Chinese investment fuels Namibia’s uranium boom, drives economic growth: Namibian president

      2024-10-05 18:40 Last Updated At:19:37

      Namibian President Nangolo Mbumba has lauded the transformative impact of Chinese investment on Namibia's economy, particularly in the uranium mining sector.

      The mining industry plays a crucial role in Namibia's economy, contributing approximately 14.4 percent to the nation's gross domestic product (GDP) in 2023.

      The uranium mining project stands as China's largest single industrial investment in Africa and exemplifies successful cooperation between China and Namibia. The project has positioned Namibia as a leading global uranium producer, as President Mbumba noted in an interview with China Media Group (CMG) aired on Friday.

      "A project like that in the first place in a country which needs employment, in a country which needs technology, in a country which you needs development, it's very, very important to have champions in every respect. You have to have champions, champions in terms of industry, champions in terms of mining. And to be recognized that we are the second or third largest producer of uranium in the world, and to have a company which is strong and the company that is also connected to a major nation is very beneficial to us. And they did not stop there, they also extend to the old Rossing Uranium Mine. So it is become now an industry known and identified by Namibians and for Namibia as a country," said Mbumba.

      The Rossing Uranium Mine has been operational for 48 years and is the largest and longest-operational open-pit uranium mine in the world. In 2019, Anglo-Australian mining giant Rio Tinto officially handed over Rossing to its new majority shareholder, the China National Nuclear Corporation (CNNC).

      According to Mbumba, the China-Namibia uranium mining project has contributed about 6 percent to 7 percent of Namibia's GDP, created around 8,000 high-paying jobs, and brought in nearly 1 billion Namibian dollars (about 57 million U.S. dollars) in tax revenue.

      "And remember, for 3 million people, that's quite a [lot of] money in the bank. Not in the pocket, but in the bank," Mbumba said.

      Chinese investment fuels Namibia’s uranium boom, drives economic growth: Namibian president

      Chinese investment fuels Namibia’s uranium boom, drives economic growth: Namibian president

      Next Article

      Asian Winter Games drives winter sports apparel innovations

      2025-02-04 14:52 Last Updated At:15:07

      Innovative technologies have been used in making sportswear for the 9th Asian Winter Games, which is set to open on Friday in Harbin City, northeast China's Heilongjiang Province.

      Yang Hui, chief sportswear designer of the Games, has designed, together with her team, cutting-edge sportswear and accessories for seven key groups at the Games, including torchbearers and volunteers.

      With temperatures between minus 20 and minus 40 degree Celsius in Harbin, these outfits will be tasked with keeping the wearers warm in extreme conditions.

      According to Yang, the inner layer of the clothing is made from graphene, which is known for its ability to maintain temperature, lock in warmth, and suppress bacteria, and the outer layer features fluorine-free waterproof down technology, which prevents melted ice and snow from soaking in when the wearer enters a warmer environment.

      "We also expanded the hat in both depth and width to accommodate users who may need to wear a helmet underneath. This garment is intended not just for regular skiers, but for our volunteers as well," Yang said.

      Scheduled for eight days from Feb 7 to 14, the upcoming Asian Winter Games marks the second time for Harbin to host the Games and the third time for the country.

      It is also the first major international ice and snow event in China since the 2022 Beijing Winter Olympics.

      Following the surge in public participations in winter sports, the sales of snow gear and garment went from less than 5 billion yuan (about 700 million U.S. dollars) in 2015 to around 22 billion yuan (about 3.06 billion U.S. dollars) in 2023.

      "Most of these technologies have already been incorporated into our products. From the winter of 2024 to the spring of 2025, winter sports have significantly boosted orders, contributing to a roughly 15-percent growth in business," said Liu Qiuhua, general manager of the Apparel Product Center of 361 Degrees.

      According to Liu, both the volume and value of orders have seen substantial increases, and the Asian Winter Games selections will soon be available in the stores across China.

      Asian Winter Games drives winter sports apparel innovations

      Asian Winter Games drives winter sports apparel innovations

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