R/€ = 18.1947 Change: -0.1145
R/$ = 17.2320 Change: -0.3119
Au 1790.06 $/oz Change: -8.28
Pt 1014.00 $/oz Change: -6.00

Felix Njini

Chinese group snaps up 50,1% stake in copper-miner, to revive Namibia mines

25th September 2009 East China Mineral Exploration & Development Bureau (ECE) has acquired a controlling 50,1% stake in struggling copper-miner Weatherly International in a deal that will result in the reopening of the latter’s mothballed mines in Namibia. 

Nambia allows downturn-battered Namdeb to defer 
royalties payment by three months

11th September 2009 Namibia’s Ministry of Mines and Energy has deferred the levying of royalties on national diamond-miner Namdeb until November to give breathing space to the mining company to recover from the effects of the global slump. 

Copper company closes remaining two of its Namibian mines

12th December 2008 London-listed copper-miner Weatherly International has shut down two of its remaining mines in Namibia – Otjihase and Tschudi – citing shrinking margins owing to a sharp fall in the copper price. 

Uranium to anchor Namibian economy in future– central bank

17th October 2008 Namibia’s central bank said last week that future economic growth would be spearheeaded by uranium as the diamond-mining sector, which had traditionally anchored the country’s economy, was beginning to lose its shine. 

Namibia all set for Zim power imports

10th October 2008 Namibian power utility NamPower is to start receiving an additional 150 MW from Hwange power station (HPS), in Zimbabwe, this month, following the completion of the refurbishment of four units at the power station in a $40-million deal between the governments of the two countries. 

Work on R2,5bn Namibian cement plant to start next year

5th September 2008 Construction on a mega cement plant German group Schwenk plans to build near Tsumeb, in northern Nambia, is to start in January next year, with completion scheduled for 2010. 

Tender out for R700m Namibian fuel-storage facility

29th August 2008 Namibian State-owned petroleum firm Namcor has issued tenders for the construction of fuel-storage facility in the coastal town of Walvis Bay. 

Kudu gas exports possible as power-plant plan falters

25th July 2008 Africa-focused oil and gas firm Tullow Oil says it may consider direct gas exports from its massive Kudu gas reservoir, in Namibia, after delays in the implementation of the envisaged 800-MW gas-to-power plant, which had been expected to use gas from the massive Kudu fields for electricity... 

Namdeb to spend R750m on coastal exploration as inland deposits decline

25th July 2008 Namibia’s largest diamond-miner, NamDeb, says it is investing R750-million in new exploration activities along the shores of the Atlantic coast as it shifts its focus from declining inland diamond deposits. 

Minerals sector slowdown puts the brakes on Namibian economic growth

11th July 2008 Lacklustre performance by Namibia’s diamond sector led to a slowdown in the country’s economic growth in the first quarter of 2008, the Bank of Namibia (BoN) says. 

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