The Brief is an online news portal and going source with a focus on the Namibian business sector, current affairs, companies and financial markets.
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May 30, 2023
Mining (232)
Namibia caps mineral royalties at 10%
September 21, 2022
Namibia is moving to cap mineral royalties at 10% to allow the country to benefit from its natural resources.
Trevali to dispose Rosh Pinah mine
September 19, 2022
Trevali Mining has been granted a sales and investment solicitation process (SISP) order by the British Columbia Supreme Court to dispose its 90% stake in Rosh Pinah mine.
AfriTin plans N$854m raise for Namibia ops
September 16, 2022
AfriTin Mining plans to raise N$854 million to fully fund its lithium and tantalum production at the Uis mine in Namibia.
Madison Metals acquires 24% stake in Namibia Nuclear Corporation
September 15, 2022
Madison Metals entered into an agreement to acquire a 23% interest in mining licence (ML) 121 in Namibia through the acquisition of a 24% ownership interest in Namibia Nuclear Corporation by way of a share purchase agreement.
Rosh Pinah owner to delist from TSX
September 07, 2022
Financially troubled Trevali Mining will be delisted from the Toronto Stock Exchange (TSX) on October 3.
The mining sector’s road to sustainability
September 05, 2022
The mining sector continues to be a key contributor to the Namibian fiscus. The Namibian mining industry contributes annually approximately 9% to GDP and paid N$6 billion in salaries and wages to over 14500 workers. Another N$12 billion went into local procurement, while the Namibian government netted N$4 billion in much needed taxes. With the effects of the pandemic regularizing and commodity prices rising, these figures will go up.
Swakop Uranium still to recoup N$89.4 billion investment in Husab mine
September 01, 2022
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.
Langer Heinrich mine restart to create 300 jobs
August 31, 2022
The restart of Langer Heinrich Uranium mine is expected to create more than 300 jobs, The Brief can exclusively reveal.
AfriTin posts strong FY performance as Uis mine ramps up
August 31, 2022
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.
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US energy giant Chevron eyes Namibia oil block acquisition
August 25, 2022
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 suspends Rosh Pinah mine expansion
August 23, 2022
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 buys out minority interests
August 19, 2022
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.