The Republic of Namibia is situated in southern Africa, bounded on the north by Angola and Zambia, on the east by Botswana, on the east and south by South Africa and bordered on the west by the Atlantic Ocean. The country is quite large (about the size of the province of Ontario or the states of Texas and Louisiana combined) covering 823,145 km2 with a population of just 2 million people. The capital city is Windhoek (population 340,000) which is located in the central interior of the country. Namibia has enjoyed political stability since achieving independence from South Africa in 1990 and has an established presidential democratic government. The last presidential and national elections were held in 2009, with the President elected by popular vote for a term of 5 years. The country's currency is at par with the South African rand.
Namibia is a stable mining jurisdiction that supports and recognizes the importance of mining to the country. Namibia is among the world's top 10 gemstone diamond producers and has risen to become the fourth-largest uranium producer in the world. Other important mineral resources are zinc, copper, lead, gold, fluorspar and salt. Mining accounts for about 9% of the GDP of Namibia and provides over 50% of foreign currency (2010). There is little mining activity in north-western Namibia and the discovery of an economic deposit in this region would have significant economic benefits to the local population.
Namibia is ranked as the tenth most stable jurisdiction in the world (after Canada, New Zealand and Norway) by the Fraser Institute in their Annual Mining Survey 2001-2011. The Fraser Institute has conducted an annual survey of metal mining and exploration companies to assess how mineral endowments and public policy factors such as taxation and regulation affect exploration investment. Survey results represent the opinions of executives and exploration managers in mining and mining consulting companies operating around the world.