Mining (232)

 Namibia is moving to cap mineral royalties at 10% to allow the country to benefit from its natural resources. 

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 Mining plans to raise N$854 million to fully fund its lithium and tantalum production at the Uis mine in Namibia.

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.

Financially troubled Trevali Mining will be delisted from the Toronto Stock Exchange (TSX) on October 3.

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 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.