Mining (242)

 TotalEnergies is targeting to start the appraisal process of its Namibian oil find in the third quarter of 2023 and the second quarter of 2024. 

Energy experts assert that once an exploration well has found hydrocarbons, considerable effort is still required to accurately assess the potential of the discovery and the role of appraisal is to provide cost-effective information that will be used for subsequent decisions (development) and this will be done through the drilling of more wells to collect information and samples from the reservoir and other seismic survey might also be acquired in order to better define the reservoir. 

The oil major, which  has already submitted its application for an Environmental Clearance Certificate with the Ministry of Mines and Energy and the Ministry of Environment Forestry and Tourism,  recently contracted SLR Environmental Consulting (Namibia) to begin  work on the Environmental and Social Impact Assessment. 

According to SLR, the exploration and appraisal process is set to be undertaken in block 2912 off the Coast of Southern Namibia, with upto 10 exploration and/or appraisal wells targeted, a process expected to take between three and four months to complete drilling and testing of each well. 

TotalEnergies, alongside National Petroleum Corporation of Namibia, QatarEnergy, and Impact Oil and Gas early this year announced the Venus-1X discovery, located approximately 290 kilometres off the coast of Namibia, in the deep-water offshore exploration thought to straddle block 2913B and 2912, which covers approximately 8,215 km². 

Shell has contracted Northern Ocean's Deepsea Bollsta to carry out drilling offshore Namibia under a 12-month contract. 

Consultant Wood Mackenzie estimates the Namibia oil find could contain about 6.5 billion barrels of oil equivalent of recoverable reserves. 

According to the Namibia Petroleum Operators Association, exploration companies have sunk in over N$30 billion in the country since independence searching for commercially viable oil finds. 

Namcor estimates that Namibia could generate US$5.6 billion in revenue for the country at peak production from its two oil finds, which have the potential to double the country’s economy, which Bloomberg estimates at US$11 billion by 2040.

AfriTin Mining has completed its Phase 1 Expansion Project at the Uis Mine in Namibia.

Mines and Energy Minister Tom Alweendo has appointed Isabella Chirchir as mining Commissioner.

She replaces Erasmus Shivolo who served in two roles as mining Commissioner and Department of Mines Deputy Executive Director in the Ministry of Mines and Energy. 

Shivolo has been mining Commissioner since 2008.

Chirchir currently serves as mining Director in the same ministry.

Namibia has recorded a 33% increase in diamond production for the third quarter of 2022 (Q3) having produced 531,000 carats of diamonds from 399,000 the previous year, latest figures shared by global mining giant Anglo American show. 

Earlier this month, Afritin took another significant step towards upgrading the already impressive production at its Uis tin mine in Namibia.

An Australian-listed company, Askari Metals, has signed a binding agreement with LexRox Exploration Services to acquire a 90% interest in the Uis lithium, tantalum and tin project in Namibia. 

Trigon Metals Inc. has signed a definitive agreement with Sprott Private Resource Streaming and Royalty Corp. and Sprott Mining Inc. for a N$680 million copper stream for its Kombat Mine in Namibia.

Namibia Desert Diamond (NAMDIA)’s after-tax profits surged by 988% to N$144.7 million in the 2021/2022 financial year up from N$13.3 million recorded in the previous corresponding period. 

Canada listed Northern Graphite has appointed Namibian Sam Januarie Vice President Human Resources (HR).

Mines and Energy Minister Tom Alweendo has temporarily banned Chinese firm Xinfeng Investment from exporting Lithium Ore to China until investigations are completed.