Category: Mining
Local Financier Facilitates N$2.8 Billion for Navachab Mine Expansion
By: Staff Writer RMB is set to facilitate a N$2.8 billion (USD 155 million) syndicated loan from Namibian and South African banks aimed at expanding QKR Navachab, Namibia’s second-largest gold mine. Under the agreement, RMB will serve as…
Madison Metals Starts Maiden Drill At Uranium Project
By: Staff writer Uranium exploration company Madison Metals has commenced with its maiden 2024 drill program at the Khan Project at Madison West, located in the highly prospective Erongo uranium province. The drill falls in line with its earlier announcement,…
Kasuto Refutes MUN Theft and Fraud Allegations
By: Hertha Ekandjo Former Mineworkers’ Union of Namibia (MUN) president Ismael Kasuto has refuted allegations that he illegally transferred N$250,000 of the union’s money into his personal lawyer’s account. Kasuto, who was dismissed from his position as president of…
Mines Continue to Rely on External Borrowing … capital continues to flow out in interest payments
By: Nghiinomenwa-vali Erastus Corporate debts in the country surged by N$18.2 billion between 2022 and 2023, with N$17 billion of this borrowed from external sources. This was revealed in the latest Financial Stability Report. The mining sector notably…
Kelp Blue Among Top 20 in Global XPRIZE Carbon Removal Contest
By: Justicia Shipena Namibia’s Kelp Blue has emerged as one of the 20 finalists in the highly competitive XPRIZE Carbon Removal Competition. Recognised for its innovative approach to seaweed cultivation aimed at restoring marine biodiversity and advancing carbon sequestration,…
NDTC Graduates 3 Local Diamantaires
By: Nghiinomenwa-vali Erastus The Namibia Diamond Trading Company (NDTC) graduated its first cohort of local diamond cutters and polishers under its Enterprises Development Programme (EDP). The company revealed this last month during its financial year (2023) performance update….
More Than 21,000 Tons of Uranium Oxide Exported Since 2021
By: Nghiinomenwa-vali Erastus Namibia has exported a total of 21,639 tons of uranium oxide produced between 2021 and 2023 to various global markets. This output stems from just two mines, Swakop Uranium and Rossing Uranium, with 2023 marking…
Mining Sector Yields N$2.7 Billion in Profits
By: Justicia Shipena Namibia’s mining sector, in 2023, amassed a collective profit of N$2.731 billion. This marks a significant turnaround from the N$391 million loss reported in 2022. This was revealed by the Chamber of Mines of Namibia…
OPEC Ready to Support Namibia’s Oil Production Endeavours
By: Hertha Ekandjo The Organisation of the Petroleum Exporting Countries (OPEC) has expressed its readiness to support Namibia as it ventures into oil production. During the 6th Namibia International Energy Conference, OPEC Secretary General Haitham Al Ghais conveyed…
Investors Told to Ignore ‘Noise’ Surrounding Namibia’s Oil and Gas Sector
By: Justicia Shipena Minister of Mines and Energy, Tom Alweendo, has urged investors to disregard scepticism surrounding Namibia’s capabilities in the oil and gas sector. Speaking at the Namibia International Energy Conference held in Windhoek earlier this week,…