Mining (67)

Listed Australian uranium development company Bannerman Energy is set to acquire a 41.8% stake in Namibia Critical Metals Inc (NMI) from PhilCo 192 and Adventure Resources for N$81.1 million.

Trevali Mining Corporation (Trevali) has entered into a mandate agreement with Standard Bank Namibia and Standard Bank South Africa to arrange a N$1.76 billion project finance facility for the Rosh Pinah expansion project.

Paladin Energy says it has raised the targeted N$169 million from a share purchase plan (SPP), with proceeds to be used to restart operations at the Langer Heinrich uranium mine.

ExxonMobil and Production Namibia shares on the company’s plans in Namibia and below is a Brief interview with Tami Itembu, an official from the company. 

ExxonMobil is planning to expand its operations in Namibia. Can you tell us more about what you are doing and what we can expect? 

ExxonMobil is still in its exploration period. The discoveries made by Shell and TotalEnergies make Namibia an exciting destination for the entire oil and gas industry.

Do you think there is a need for a learning curve in Namibia to understand the oil and gas market?

Definitely, I think the oil and gas industry has done a great job to come together through NAMPOA, the industry association, to educate the public. Over the past two years, the Chairperson and the Vice Chairperson of Namcor, who were both country managers for different oil operators in the country, ran a series of engagements with various ministries and organizations to educate the citizens so that they can understand the process of oil and gas, given that the industry is still very new in the country.

The majority of people in Namibia know about mining. It is interesting that a lot of people think exploration might take six months and production to start almost immediately, which is not the case. And as such, it is really interesting to share with stakeholders and citizens, what the exploration process entails, the information about the capital risk and the intensity that oil and gas comes with, which is very different to mining.

There has been a lot of talk and misunderstanding about the fiscals, the potential oil revenue, so it has been our job( NAMPOA) to go and make sure that the people understand the petroleum economics and what the fiscals will look like in Namibia. We have put a lot of effort into making the citizens understand that the discoveries should be a blessing not a curse. 

Where do you see Namibia in terms of energy and economic development in the next ten years? 

Namibia could establish itself as a global energy hub. We have everything going for us in terms of Infrastructure, political stability and good governance structures. We are already a gateway to a lot of landlocked countries in the region and we could become more innovative and more aggressive in making sure that we use our geographical position to be able to cater for these markets especially if we are talking about gas and the Southern African Power Pool.

We are also in a good position because we are the epitome of the energy mix with a lot of the drive from the presidency on green hydrogen and oil and gas discoveries. I don’t think there is any country in southern Africa or on the continent that can really speak to that. 

African Energy Week is driven by this idea of eradicating energy poverty across Africa by 2030. What do you expect this year to bring in terms of clarity regarding the future of Africa’s energy market?

 I think the challenge for Africa right now is the investment environment, although we’ve seen impressive mergers and acquisitions on the continent, which is very encouraging . I would really like to see something concrete coming out of there. We have been talking a lot about the African Energy Bank and being able to continue to finance the projects on the continent.

We have a huge responsibility to make sure we eradicate energy poverty and as such I would like to see concrete actions coming out of financing African projects and Africa financing itself. I would also like to see the continent building its own cohesive narrative in terms of what a just energy transition looks like for us.-


Rössing Uranium Limited says it has invested N$105 million towards the construction of water reservoirs to increase the mine's water storage capacity and secure supplies for its mining operations.

Namibia’s mining sector last year spent N$15.3 billion on goods and services acquired from local companies, the Chamber of Mines of Namibia has said.

Hilifa Mbako, Executive Chairperson of Orano Mining Namibia has retained his position as President of the Chamber of Mines of Namibia for the 2022 – 2023 period, following its annual general meeting held on Wednesday.

AfriTin Mining says it expects to generate over N$33.5 billion in revenues in the next five years from the expansion of its Uis mine in Namibia.

Equatorial Guinea, a major African oil and gas producer, has offered Namibia four lessons as the country starts the journey to oil and gas production.

 London Stock Exchange-listed Cloudbreak Discovery has partnered with Gondwana Petroleum Namibia, Timeworn Investments, Pioneer Oil and Gas Consulting and a Swiss Based Asset Manager to explore oil in Namibia.

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