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The Chamber of Mines of Namibia is upbeat about the local mining sector’s growth prospects, highlighting the expected growth in output from the diamonds and uranium sectors.

To the relief of motorists, the Ministry of Mines and Energy has announced that fuel prices will remain unchanged in February.

The African Development Bank will commit US$10 billion over the next five years to boost food production on the continent and help end its reliance on imports.

South Africa’s main stock exchange will probably continue haemorrhaging listings over the next year as companies grapple with onerous regulatory and funding conditions, making it less attractive to raise capital through initial public offerings.

RMB Namibia has been named the Best Trade Finance Bank in Namibia 2023 by Global Finance magazine in their 23rd annual World's Best Trade Finance Providers Awards.

President Hage Geingob says he is deeply concerned that despite the Central Procurement Board of Namibia (CPBN) being in place, the government continues to pay highly inflated prices for goods and services. 

Andrada Mining, formerly known as AfriTin Mining, says it spent N$143 million on procuring goods and services from 250 Namibian suppliers. 

The listed miner revealed in its recent sustainability report that its total procurement spending for the reporting period was in excess of N$294 million of which N$143 million or 49% was spent across more than 250 Namibian businesses.  

The report further details that as the business grows and develops, the company fully intend to bring Namibian suppliers on board. 

In addition, the 2022 sustainability report shows that in the same period the company reported a reduction in combined Scope 1 and 2 greenhouse gas emissions from its Uis tin mine.

 According to the company's recently released Sustainability Report for the 2022 financial year, the mine produced 8,208 metric tonnes of carbon dioxide equivalent emissions, which is 8.2% less than the Equator Principles Yearly Threshold. 

In addition to the reduction in emissions, the company reported a water-use intensity of 0.33 cubic meters per tonne of ore processed, using non-potable groundwater and surface water sources. 

During the period under review, the company said the Uis mine employed 315 people as of 26 January, with 128 being permanent staff. The report also highlighted that 75% of senior managers at the mine are women. 

Despite the positive results, the company did record two Level 3 environmental incidents, which occurred beyond the border of the mine site. There were also 39 Level 2 and 34 Level 1 environmental incidents, which had minimal to material impacts but were of short duration.

 In terms of energy consumption, the mine consumed a total of 58,733 gigajoules from March 2021 to February 2022, with an efficiency of 0.13 gigajoules per tonne of ore processed, with a commitment to investing in renewable and lower-carbon energy solutions. 

"The company remains committed to improving its environment, social and governance credentials, as it has done over the 2021 to 2022 financial years," said Andrada Mining CEO Anthony Viljoen. 

Andrada Mining is an African technology metals mining company with a portfolio of mining and exploration assets in Namibia.

The Namibia Revenue Agency (NamRA) has collected approximately N$2.8 billion from its customs and excise operations for the 2022/23 financial year from April to December, 2022. 

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has voted to hike interest rates by 25 basis points (bp), taking the country’s repurchase rate to 7.25%.

Mobile Telecommunications Limited (MTC), through its Rural Schools Project, has announced a N$ 3.2 million commitment to construct classrooms in three regions, namely Zambezi, Ohangwena, and Hardap this year.

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