China-based Yintai Gold is set to acquire Canadian gold exploration firm Osino Resources in an all-cash deal for N$5.3 billion. In essence, Osino will end its N$4 billion deal with Canadian gold miner Dundee Precious Metals, which was announced in December, and Yintai Gold also will pay a N$140 millionContinue Reading
…growing tally now at 32 and counting Jon Howell, CEO of AviaDev has revealed that 32 airlines and counting are already registered for AviaDev Africa 2024, the premier platform dedicated to growing connectivity to, from, and within the African continent. Last week, Business Express reported that 26 airlines had beenContinue Reading
…looks to create 1000 direct jobs After having been stalled for seven years, the Omitiomire copper project of Namibian copper explorer and developer Omico Mining has now completed phases 1, 2 and 3 of metallurgical testwork, with Phase 4 of the metallurgical testwork to be completed in the second quarterContinue Reading
To increase the net present value (NPV) of Namibia’s marine diamond mining sector, four strategies – economies of scale, economies of scope, productivity and efficiency improvements, and improvements to the quality of the resource – can be assessed as potential options. This is according to a joint report created byContinue Reading
Toronto-listed junior ReconAfrica has pinpointed what is set to be the target of its first exploration well onshore Namibia as part of a multi-probe campaign planned for 2024. To date, all surveying activity has been completed, with demining activities complete on the Damara Fold Belt Prospect L, which is expectedContinue Reading
Chief Economist at Capricorn Asset Management Floris Bergh has advised the government to consider capping the public sector wage bill, which currently stands at an astronomical N$33 billion and use part of the savings to invest in social welfare spending, with the ultimate view to creating micro-economies. Bergh was speakingContinue Reading
Despite the boon of improved uranium demand, overall, depressed commodity prices and costly operating conditions are emphasising the need for Namibian mining companies to ensure that they mine a lot smarter, and more efficiently and sustainably. “We believe that our solutions meet that criteria. The trend at the moment isContinue Reading
B2Gold has revealed that it spent in excess of N$72 million on exploration at its Otjikoto gold mine in Namibia in 2023 surpassing the N$64 million that was invested in the year 2022. Full year financial results for the 2023 financial year also show that the gold miner deployed CAPEXContinue Reading
…as hospitality industry continues steady recover and growth In the first month of the year, coastal regions emerged as the most sought-after holiday destinations, boasting an occupancy rate standing at 55.39% above pre-Covid levels, the highest among all regions. According to Simonis Storm, this improved activity can be attributed toContinue Reading
Namibia has been grey listed by the Financial Action Task Force’s (FATF) Plenary and placed under increased monitoring, due to concerns over remaining effective implementation compliance with international Anti-Money laundering (AML), Combating the Financing of Terrorism (CFT), and Combatting Proliferation Financing (CPF) standards. As a signatory to various United NationsContinue Reading
