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Madison Metals Encouraged by High-Grade Uranium Assay Discoveries
By: Staff Writer Uranium exploration company Madison Metals has recently unveiled promising assay results, indicating an average uranium oxide (U3O8), also known as yellowcake, content of 2.78% at Trench 6 in the Erongo region. This discovery follows closely on the heels of the company’s previous announcement regarding the uncovering of high-grade uranium […]
Russian Owned Company Accused of Drilling Irregularities
By: Justicia Shipena Russian-linked mining company, Headspring Investments has been accused of contravening drilling regulations that required the company to properly seal and grout numerous boreholes it drilled since 2012. Headspring Investments is a subsidiary of Uranium One which is controlled by Russia’s state-owned nuclear energy conglomerate, Rosatom. Headspring holds eight Exclusive Prospecting […]
China’s Yintai Gold Acquires Osino Resources for N$5.2 Billion
By: Staff Writer Chinese mining company Yintai Gold has emerged as the foreign entity that persuaded Osino Resources to abandon Dundee Precious Metals’ N$4 billion takeover offer in favour of its superior N$5.2 billion cash acquisition. Yintai Gold’s acquisition marks another significant Chinese presence in Namibia’s natural resources sector, joining Beifang at […]
Osino Resources Rejects Dundee’s N$5.1 Billion Takeover Bid
By: Staff Writer Osino Resources, a Canadian gold miner, has opted to turn down a recent takeover bid by Dundee Precious Metals in favor of accepting an offer from an undisclosed foreign-based mining company. In a statement released on Tuesday, Osino announced that its Board of Directors, in consultation with financial and legal […]
Namibia Upbeat About Impending Energy Investment Decision
By: Justicia Shipena Petroleum Commissioner Maggy Shino is confident about the forthcoming final investment decisions regarding recent discoveries made by major players such as Total Energies, Shell, Galp, and the existing Kudu Gas field operated by BW Energies. Shino shared this optimism during the International Association of Drilling Contractors (IADC) Conference in Windhoek, […]
Mining Commissioner Calls for Unhindered Fossil Fuel Use for Development
By: Justicia Shipena Mining Commissioner Isabella Chirchir has reiterated that developing countries should be allowed the autonomy to utilise fossil fuels for their developmental needs, without interference from developed nations. Chirchir delivered these statements at the Africa Mining Indaba in Cape Town, South Africa, as part of a panel discussion focused on critical […]
Rossing Foundation to Invest N$2.4 Million in School Textbooks
By: Nghiinomenwa-vali Erastus The Rossing Foundation has committed N$2.4 million to provide science-related textbooks and learning materials to 18 schools across the country in this year. The first tranche of this commitment, totaling N$782,908, was recently distributed to three schools in the Kunene, Omusati, and Ohangwena Regions. Maria Immanuel, the Foundation’s Community Liaison […]
Ministry Refutes TotalEnergies ‘Shareholder’s’ Corruption Claims
Justicia Shipena The Ministry of Mines and Energy has strongly refuted allegations of corruption and favouritism in the country’s energy sector related to the handling of oil and gas exploration licences. This follows a letter, purportedly from a TotalEnergies shareholder and addressed to the company’s Chairman and CEO, Patrick Pouyanne, which implicated key […]
Mining Sector Not Dominated by Chinese Investors, says Alweendo
By: Justicia Shipena Mines and Energy Minister, Tom Alweendo, has refuted claims suggesting that the mining sector is predominantly controlled by Chinese investors. Addressing the issue in a recent interview with Eagle FM, Alweendo dismissed the perception of Chinese dominance in the industry, asserting that such beliefs lack merit. Alweendo emphasised that […]
Paladin Energy Gets N$2.8 Billion Loan to Restart Langer Heinrich Mine
By: Staff Writer Australian mining company Paladin Energy has secured a N$2.8 billion syndicated debt facility in preparation for the restart of the commercial production at its Langer Heinrich uranium mine in the Erongo region. The debt facility was orchestrated through Nedbank Limited, operating via its corporate and investment banking division (Nedbank CIB), […]