• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Latest

Namdeb gets new 20 year lease of life

by editor
October 14, 2021
in Latest
44
A A
57
SHARES
956
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

India-Namibia trade tops N$14.2 billion as Modi calls for deeper ties

NIPAM launches the Public Sector Awards

Fitch sees stable future for NamWater despite weak operating conditions

Diamond miner Namdeb on Thursday announced that its board had approved a plan to extend the current life of mine (LoM) from 2022 to 2042, a decision expected to save approximately 2100 jobs and create 600 additional jobs.

Namdeb’s long term plan creates a LoM extension of up to 20 years for the company’s land-based operations and ensures the sustenance of its Southern Coastal Mine, through a balance of managing risk by using existing methods and incorporating new technology for improved safety and operational efficiencies.
“I can announce that Namdeb Diamond Corporation yesterday (Wednesday) obtained approval for its new long-term plan from its Board of Directors as well has the Namdeb Holdings Board of Directors. This will extend the current life of mine from 2022 to 2042,” Namdeb CEO, Riaan Burger said.
“To execute this plan, we as Namdeb also then sought royalty remission from the Namibian Government to enable the re-capitalization of the business over the next few years. Without the royalty remission, it would not have been possible to do the necessary investment that we require,” Burger said.
The new plan is not without sacrifices, with the government agreeing to a royalty remission which is expected to cost it close to a billion dollars in revenue over a five-year period.
“To safeguard the Namibian economy, it was imperative for the Government to decide and support Namdeb by granting royalty remission. This decision benefits the sustainability of the life of mine, the national economy as well as preserving employment for our people and the livelihoods of families that depend on it. It may have not been an easy decision to make in an economy that already was crippled by the negative impacts of the COVID-19 pandemic,” Mines minister Tom Alweendo said.
This comes as Namdeb had adopted a mine plan which concluded with the closure of the mine at the end of 2022.

So what does this all mean?
In a nutshell, Namdeb was facing closure, a development which will would have led to the loss of at least 2100 direct jobs and many more in indirect employment and also the likely economic collapse of the town of Orangenumd. The approved plan allows those jobs to be retained, the town to remain open, and the mine contributing to the fiscus.

Salient points of Namdeb’s new long-term plan

• Over the 20 years, it is estimated that an additional N$40 billion will flow into the fiscus as a result of the plan, with more contributed to the Namibian economy.
• Production will be ramped up over the next two and a half years to approximately 160% of the current capacity. This means a significant capital investment of approximately N$1.8 billion and similarly, a significant increase in operational cost.
• Namdeb’s long-term plan will result in 7.8 million carats being produced which amounts to revenue of N$159 billion benefit to Namibia and this requires approximately N$2billion capital investment over the three years.
• Approximately 2100 (1500 Namdeb employees, 600 contractors) jobs at Namdeb will be retained as a result of the life of mine extension and approximately 600 jobs are being added to enable the additional production activities.
• The plan supports the economic transformation of Orangenumd, providing an extended period during which it is enabled to diversify and develop new economic activities beyond mining such as tourism, agriculture and green hydrogen.

author avatar
editor
See Full Bio
Tags: CompaniesLatest
Share23Tweet14Share4
Previous Post

Namibia among top best places for business in Africa

Next Post

Vehicle sales decline in September

Recommended For You

India-Namibia trade tops N$14.2 billion as Modi calls for deeper ties

by reporter
July 10, 2025
0
India-Namibia trade tops N$14.2 billion as Modi calls for deeper ties

India-Namibia bilateral trade has exceeded N$14.2 billion (US$ 800 million), Indian Prime Minister Narendra Modi announced during an address to the Namibian Parliament, reaffirming his country’s commitment to...

Read moreDetails

NIPAM launches the Public Sector Awards

by reporter
July 9, 2025
0
NIPAM launches the Public Sector Awards

The Namibia Institute of Public Administration and Management (NIPAM) will host its first-ever Public Sector Awards on 11 July 2025 at the NIPAM Campus in Windhoek. This groundbreaking...

Read moreDetails

Fitch sees stable future for NamWater despite weak operating conditions

by reporter
July 7, 2025
0
Fitch sees stable future for NamWater despite weak operating conditions

Fitch Ratings has affirmed Namibia Water Corporation (NamWater) Limited’s long‑term foreign‑ and local‑currency issuer default ratings at BB‑ with a stable outlook. According to the report, despite operating...

Read moreDetails

NAMCOR posts N$1.26 billion loss, debt stands at N$1.6 billion

by reporter
July 6, 2025
0
NAMCOR posts N$1.26 billion loss, debt stands at N$1.6 billion

The National Petroleum Corporation of Namibia (NAMCOR) has posted a net loss of N$1.26 billion for the 2022/23 financial year, largely due to the underperformance of its trading...

Read moreDetails

NamRA rules out extension to individual tax return deadline

by reporter
June 30, 2025
0
NamRA rules out extension to individual tax return deadline

The Namibia Revenue Agency (NamRA) maintains that 30 June remains the official deadline for submitting individual income tax returns, urging taxpayers to file without delay. Speaking on the...

Read moreDetails
Next Post
Vehicle sales decline in September

Vehicle sales decline in September

Related News

Green schemes to produce 15,000 tonnes of maize

Green schemes to produce 15,000 tonnes of maize

January 8, 2024
Recon secures additional data for Namibia exploration

Recon secures additional data for Namibia exploration

May 25, 2023
To be my President’s keeper

Missional clarity: The why behind the seat

July 11, 2025

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.