Mining (240)

Swakop Uranium says it is yet to reach a break-even-point in its local operations after investing approximately N$89.4 billion (U$5.2 billion) in Husab mine over the years.

The restart of Langer Heinrich Uranium mine is expected to create more than 300 jobs, The Brief can exclusively reveal.

AfriTin has recorded a strong performance for the financial year ended February 28, which saw the company recording increased production from the Uis mine, in Namibia, and generating its first group-wide profit.

Namibia has signed two Memorandums of Understanding (MoU) with Japanese firms in the areas of oil and gas, and synthetic fuels, Director General of the National Planning Commission, Obeth Kandjoze has announced.

United States energy giant Chevron Corporation (Chevron) is set to acquire a majority stake in a highly coveted ultra-deepwater block offshore Namibia, just north of TotalEnergies huge Venus discovery.

Trevali Mining has suspended the planned expansion of its Rosh Pinah mine after defaulting on a N$124.4 million (US$7.5 million) revolving credit facility repayment.

Windhoek Renovations has dragged the estate of late businessman Barnabas Uugwanga and his company EVS Mining Contractors to court demanding to be paid over N$3 million in debt.

Osino Resources has acquired the remaining minority interests in three of its subsidiary companies holding the Namibian mineral licenses underlying the Twin Hills Gold Project and part of the Karibib exploration area, respectively.

 The Canada-based firm this week signed an agreement with Somerschield Investments Close Corporation to acquire 3% of the shares in the capital of Osino Gold Exploration and Mining (Proprietary) Limited (Osino GEM) for an aggregate value of N$24 million payable through the issuance of 1,700,000 common shares of the Company. 

Osino GEM is a 97% owned subsidiary of Osino and holds 3 Namibian exclusive prospecting licenses covering a total of 24,171 hectares, including an EPL which holds most of the Bulge and Twin Hills Central mineralization, forming part of Osino’s overall Twin Hills gold mineral resource. 

“The acquisition of these minority interests, by way of stock priced at a premium to market, eliminates the inconsistent subsidiary ownership structure and results in Osino’s effective ownership in the Twin Hills Gold Project increasing to 100%. We are very pleased to have been able to agree on this transaction with the minority owners, who have been long-standing supporters and shareholders of Osino,” the company’s President & CEO Heye Daun said. 

“The selling parties have hereby agreed to restructure their ownership from the Namibian minority level to the Canadian public company level, aligning all shareholders’ interests. They have also agreed to remain locked-in for up to 2 years which is testament to their commitment to Osino,” he added.

 Also acquired was Ominda Mineral Resources Close Corporation’s 10% interest in Osino Namibia Minerals Exploration for an (ONME) aggregate value of N$11.2 million payable through the issuance of 1,000,000 common shares of the company. 

ONME is a 90% owned subsidiary of Osino and holds 8 EPL’s covering a total of 86,409 hectares, including an EPL which hosts the gold mineralization at the Clouds deposit, forming part of Osino’s overall Twin Hills gold mineral resource. 

In addition, Osino acquired Richroad Investments Close Corporation and South Wing Investments Close Corporation’s 20% shareholding N$1.8 million, payable through the issuance of 37,617 shares and a cash payment of N$1,24 million to Richroad and Southwing.


Richwing is 80% owned by Osino and holds an EPL which hosts gold mineralization and industrial minerals south of the Twin Hills project area.


Osino is a Canadian gold exploration and development company focused on the development of the Twin Hills Gold Project in central Namibia and recently completed the acquisition of Ondundu gold exploration property in Namibia from B2Gold for a total consideration of N$257.3 million settled through shares in lieu of cash.



Kazera Global, which owns Tantalite Valley Mine in Namibia, says it is ready to increase production of tantalum and lithium after it received N$8.4 million from Chinese company Hebei Xinjian Construction.

The government has granted Reconnaissance Energy Africa (ReconAfrica) a three-year extension on its Environmental Clearance Certificate (ECC).

The ECC, which is issued by the Office of the Environmental Commissioner in the Ministry of Environment, Forestry and Tourism, covers the entire PEL 73 permit in northeast Namibia that stretches over 6.3 million acres (25,000 km2).

The ECC authorizes ReconAfrica to continue drilling stratigraphic test wells, to depths, approved by Ministry of Mines and Energy and National Petroleum Corporation of Namibia (NAMCOR) as well as completing a sidetrack of the Company's first well, Kawe 6-2, in the Kavango Basin.

The extended ECC, which is valid from August 26, 2022, until August 26, 2025, was approved on August 11, 2022.

"The extension of the Environmental Clearance Certificate was underpinned by extensive on-the-ground and research-based data gathering by our technical teams working in combination with our third-party technical partners,” ReconAfrica Chief Executive Officer, Scot Evans said.

“The extension further demonstrates how ReconAfrica is working collaboratively with our interested and impacted stakeholders in Namibia including local and national government entities/representatives, as well as with the Traditional Authorities, as we pursue the commercial development of the Kavango Basin. The extension enables the Company to plan and execute our current stratigraphic drilling and sidetrack programs.”