Thunder Gold Corp has finalized a deal to sell its 25% stake in the Dor-Wit copper property in Namibia to Noronex Limited, marking a pivotal shift in its business strategy towards gold exploration in Canada. This transaction not only enhances Noronex’s position in the Kalahari Copper Belt but also signifiesContinue Reading
In January 2024, livestock marketing activities increased to 66,897 head, marking an increase from the 53,804 head recorded in the previous January and a slight decline from the 79,148 head marketed in December 2023, research firm, Simonis Storm has said. Specifically, cattle marketing saw an increase, with 20,398 head marketedContinue Reading
With significant portion of the government debt is due for repayment, government is edging closer to its largest maturity, the US$750 (N$14.3 billion) Eurobond due on 29 October 2025 which will be the largest single day debt maturity in the history of the country. According to Simonis Storm, debt servicingContinue Reading
The FY2024/2025 Namibian budget, presented by Finance Minister Iipumbu Shiimi under the theme “continuing the legacy of Dr. Hage G. Geingob by caring for the Namibian child”, aims to address the country’s economic challenges while ensuring responsible financial management. The budget focuses on stimulating economic growth, enhancing infrastructure, and supportingContinue 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
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
…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
The 2024 National Budget, which sets out expected revenues and key national spending priorities, will be tabled to parliament on 28 February 2024. According to Ruusa Nandago FNB Namibia Economist, this is an important budget as it will be tabled ahead of an election period, amid an ongoing drought, sluggishContinue Reading
B2Gold’s Otjikoto Mine in Namibia, in which the Company holds a 90% interest, had a strong finish to 2023 and produced an annual record of 208,598 ounces of gold, at the upper end of the guidance range of 190,000 to 210,000 ounces, mainly due to improved processed grade as aContinue Reading
