Mining (242)

Debmarine Namibia’s N$7 billion new diamond recovery vessel, the Additional Mining Vessel (AMV#3), is set to be unveiled this month, eight months after it was officially handed over by Damen Shipyards Mangalia in Romania.

AfriTin Mining has identified lithium-bearing spodumene within multiple pegmatites on a mining licence located 11 km southwest of its Uis tin mine, in Namibia.

Canadian exploration and mining development company, Trigon Metals Inc, says it has shipped its first shipments of copper concentrate from Kombat Mine.

TotalEnergies has announced that it has made a significant oil discovery off the coast of Namibia.

The Antwerp World Diamond Centre (AWDC) says it traded Namibian diamonds valued at over N$1.98 billion (US$ 133 million) last year. 

Namibia’s decision to set up an oil refinery in the country will depend on the quality and quantity of the discovered fossil fuel, The Brief has learnt.

Mines and Energy minister Tom Alweendo told The Brief on Tuesday that the Government is still waiting for conclusive oil-drilling results to map the way forward for the lucrative petroleum sector.

“Yes, we confirm the discovery as announced by the entities involved. The announcement was made only after data confirmed the discovery. The commercial nature, i.e. the quantity and quality, will be determined by the results of the second well that will be drilled during this month. The decision to invest in a refinery will depend on the quantity and quality of the discovery,” he said.

This was after the Mines and Energy ministry had earlier officially confirmed the discovery of light oil within the Orange basin, offshore Namibia, with the commercial value of the discovery still to be ascertained through further drilling due to commence this month.

The National Petroleum Corporation of Namibia (NAMCOR) and its partners, Shell Namibia Upstream B.V and Qatar Energy’s Graff-1 well is said to have proved a working petroleum system for light oil in the Orange Basin, 270 km from the town of Oranjemund, where drilling operations commenced in early December 2021 and were safely completed in early February 2022.

“The discovery has boosted Namibia’s attractiveness to future exploration and we expect higher exploration activities. This gives us a clear shot of reimagining our economy,” Alweendo said.

Namibia has sought to develop oil and gas fields for decades with no success and the potential oil find could prove to be a game changer for the country.

The country’s offshore prospects have in recent years attracted many foreign companies including Exxon Mobil and TotalEnergies following discoveries in Brazil and Guyana which share geological similarities.

TotalEnergies started drilling in December the Venus-1 exploration well in the nearby Block 56 at a depth of 3,000 metres.

Shell holds a 45% stake in the offshore Petroleum Exploration License 39 (PEL 39) with a 45% interest held by Qatar Petroleum and a 10% held by the National Petroleum Corporation of Namibia (NAMCOR).

Namibian Marine Phosphate (NMP) says it’s taking the relevant steps to ensure that its Sandpiper Marine Phosphate Project complies with last year’s High Court ruling.

Namibia’s mining sector is emerging from the coronavirus pandemic-induced crisis that saw it contracting by nearly 15% in 2020. The Brief (TB) caught up with Chamber of Mines of Namibia CEO, Veston Malango (VM) to discuss the performance of the country’s mining sector in 2021, new developments and its outlook. Below are excerpts of the interview.

The Chamber of Mines of Namibia says it is not economically viable for most mines to use 100% renewable energy, and thus be carbon neutral, amid increased global calls for nations to do away with fossil fuels.

Namibia is expected to reap huge benefits from a rise in international diamond prices, Mines and Energy minister Tom Alweendo has said.