The price of potatoes in Namibia particular saw a significant surge of 40% y/y, compared to the 1.4% y/y recorded in October 2022, the latest inflation report by Simonis Storm reveals. This rise can be attributed to Namibia’s heavy reliance on imports for its potatoes which has driven up theContinue Reading
Westmount Energy Limited told investors that deepwater exploration ‘hotspots’ offshore Guyana and Namibia are well positioned to capture increased industry spending on exploration. Investment in the oil sector’s ‘upstream’ segment is this year projected to reach its highest level since 2015, up to US$528 billion, Westmount said, highlighting estimates fromContinue Reading
Privately owned Rhino Resources has set out an application to drill up to 10 wells in Namibia’s keenly watched Orange Basin. The company holds Block 2914B, next to Shell’s Block 2914A. Galp is to the north, at PEL 83, where it intends to begin drilling on the Mopane complex thisContinue Reading
Elevate Uranium has announced an updated JORC Inferred Mineral Resource Estimate of 48 Mlb eU3O8 (uranium) for the Koppies Uranium Project in Namibia. This is a 136% percent increase in the resource estimate thereby strengthening the status of Koppies project. Elevate Uranium’s Managing Director, Murray Hill, commented: “Achieving the 48Continue Reading
Paratus Group Holdings Limited (Paratus) has secured a N$600 million (about US$31 million) debt facility to drive the expansion of its pivotal fibre and data centre business across the continent over the coming three years. The debt has been secured from the Emerging Africa Infrastructure Fund (EAIF), part of theContinue Reading
Gold miner B2Gold has spent up to N$908 million CAPEX on its Namibian operations for this year in the months ending 30 September 2023. For the third quarter only, capital expenditures totalled N$257 million (about US$13 million), consisting of N$178 million (US$9 million) for deferred stripping in the Otjikoto pitContinue Reading
…New name derived from Karas and Oryx Deep-South Resources Inc. has announced that effective November 10, 2023, it will be changing its name to Koryx Copper Inc. There is no change in the share capital of the Company and the shareholders are not required to exchange their existing share certificatesContinue Reading
City Mayor, Cllr. Joseph Uapingene has said that the City of Windhoek will consider incentives as one of the ways to encourage residents to pay their debts and thereby relieve the City and residents of the current debt. The City approved its 2023/2024 budget which has grown to N$5 billion.Continue Reading
Nedbank Namibia, one of the country’s leading banks, is set to play a pivotal role in supporting small and medium enterprises (SMEs) through a pioneering programme initiated by the Namibia Special Risks Insurance Association (Nasria). Participating financial institutions seek to address a significant hurdle faced by SMEs – the lackContinue Reading
Speaking during a third quarter 2023 results Q&A, executives at Shell said that the company expects to drill another exploration well and appraisal well and carry out another flow test offshore Namibia over the next six to nine months, as the company moves towards understanding a development pathway for itsContinue Reading
