Impact Oil & Gas Limited’s wholly-owned subsidiary, Impact Africa Ltd, has entered into an agreement with Silver Wave Energy Pte Ltd to acquire its entire interest (10%) in Area 2 offshore South Africa. Impact currently owns a 90% participating interest and operatorship in Area 2, acquired from Silver Wave EnergyContinue Reading
GJEPC held a productive meeting with a delegation from the Namibia Diamond Board to explore potential collaborations and strengthen the diamond industry in both countries. The meeting, held at the GJEPC Head Office in Bharat Diamond Bourse (BDB) on 12th August, focused on addressing challenges faced by the diamond industry,Continue Reading
… Ayuk says N$450 billion is required for oil production. Oil and gas experts have highlighted the multi-million-dollar bill that awaits Namibia’s quest for oil and gas, further expressing that one of the biggest tests of whether huge new oil and gas projects are able to attract the necessary financingContinue Reading
Gold miner B2Gold has stepped up its hunt for gold at its recently discovered Antelope deposit at the Otjikoto mine, drilling over 36 000 meters into the Springbok Zone to date, with 33 holes totalling 16,950 meters completed in 2024, to establish the 50 x 50 meter spacing that informsContinue Reading
The mining sector currently allocates a substantial portion of its total procurement budget, averaging between 60% percent and 80% percent, to local businesses and suppliers, vice president Netumbo Nandi-Ndaitwah has said. Speaking at the recently held mining expo and conference, Ndaitwah said that she was delighted to learn that theContinue Reading
London-listed minnow Tower Resources can breathe a sigh of relief after Namibia’s government, in keeping with tradition, took a flexible view on exploration terms and commitments the company originally made on its enticing acreage in the Walvis basin. This upbeat news — which had no impact on Tower’s share priceContinue Reading
Mines and Energy Minister Tom Alweendo has castigated naysayers against local value addition of Namibia’s critical metals, who in recent months have constantly said that Namibia’s push for local value addition diminishes its investment attractiveness. At the recently held mining expo and conference, Alweendo said that it was disconcerting toContinue Reading
Namibia has called to revive Nigeria -Namibia Joint Commission of Corporation to strengthen bilateral relation in the areas of Health, Education, Agriculture, Oil and Gas. Namibian High Commissioner to Nigeria Ambassador Humphrey Geiseb stated this during his visit to Nigerian Directorate of Technical Corps in Abuja, Nigeria’s Capital. Ambassador GeisebContinue Reading
Research experts Simonis Storm has said that inflation in electricity charges decelerated to 7.6% y/y in July 2024, a slowdown attributed to the government’s intervention, which cancelled the usual electricity rate hike that typically occurs in July. The Namibian government has allocated approximately N$365 million to subsidise electricity costs forContinue Reading
…as primary sectors are poised for a drop in growth. Growth for diamond mining is projected to turn negative in 2024 on the back of reduced global demand and high base effects from 2023, the Bank of Namibia has said. Following a strong performance in 2023, the central bank saysContinue Reading
