Category: Mining
ReconAfrica Targets 3.1 Billion Barrels of Oil in Namibia’s Naingopo Well
By: Justicia Shipena Canadian oil and gas exploration company, Reconnaissance Energy Africa (ReconAfrica), is set to tap significant potential in its Naingopo well located northeast of Namibia. The anticipated yield from this exploration effort is estimated at 3.1…
Lithium Mine Workers Allege Unfair Dismissals Amid Safety Concerns
By: Juliana Iikela Former employees of Long Fire Investments and its joint venture company Xinfeng Investment at the Uis and Henties Bay Lithium mine claim they were fired after expressing dissatisfaction with their working conditions. Last year, the Mineworkers…
Maiden Drilling Program Confirms High-Grade Uranium Deposits
By: Justicia Shipena Canadian company Madison Metals Inc. has confirmed high-grade uranium deposits at its Khan Uranium Project in Madison West, located in Namibia’s Central Erongo Uranium province. Namibia is the world’s second-largest uranium producer and holds the…
Paladin Acquires 100% of Fission Uranium Shares
By: Hertha Ekandjo Paladin Energy Ltd, a Western Australian-based uranium production company that owns 75% of the Langer Heinrich Mine in Namibia, has announced its 100% acquisition of Fission Uranium Corp. Paladin and Fission entered into a definitive…
Xinfeng Completes Construction of its Lithium Plant in Namibian
By: Justicia Shipena Chinese mining company Xinfeng Investment (Pty) Limited has completed the construction of a lithium processing plant in Namibia. The announcement was made by Chinese Ambassador to Namibia, Zhao Weiping, during a recent media briefing. The plant’s…
Bezant Resources Marks Progress at Copper-Gold Project
By: Staff writer Bezant Resources has announced the completion of a series of contractor services, marking a significant milestone for the Hope & Gorob mining operation. The company submitted a mining licence application for the Hope-Gorob copper-gold project…
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…