Oryx Properties, the largest property fund in Namibia, has partnered with RMB for the acquisition of Dunes Mall in Walvis Bay, in a landmark transaction worth N$630 million. This strategic deal sees Oryx expand its retail asset portfolio, with RMB providing debt funding of N$500 million to realise the acquisitionContinue Reading
Toyota remains the leader in the Namibian automotive industry, accounting for 50% of total sales, a latest automotive report by Simonis Storm reveals. Volkswagen follows with a meagre 11% of the market share, while Ford accounts for 7%. “Consumer demand for Toyota vehicles outperform the market, mainly due to itsContinue Reading
Dundee Precious Metals has said that complex concentrate smelted at its Tsumeb smelter in the third quarter of 2023 of 21,782 tonnes was 42,208 tonnes lower than the corresponding period in 2022 due primarily to the timing of the Ausmelt furnace maintenance shutdown, which was completed during the third quarterContinue Reading
Telecom Namibia has signed an N$100 million agreement with Huawei, a global leader in information and communications technology, to deliver a fixed-mobile convergence core network (FMC Core). This is the second major digital transformation and network modernisation agreement the company has signed, since signing the N$327 OSS/BSS billing system agreementContinue 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
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
Aim- and ASX-listed Celsius Resources has received confirmation of the renewal of the exclusive prospecting licence for the Opuwo cobalt project, which is held under its Namibian subsidiary Opuwo Cobalt. The Namibian Ministry of Mines and Energy issued the two-year renewal of the exclusive prospecting licence for EPL 4346, whichContinue Reading
Offshore drilling player Odfjell Drilling has tucked another milestone under its belt and boosted operational efficiency by employing a new method to complete a rig move for a semi-submersible it manages on behalf of Northern Ocean. The rig is working for TotalEnergies off Namibia. TotalEnergies hired the Deepsea Mira rigContinue Reading
Shell has such “belief” in the scale of its oil and gas discoveries in Namibia’s Orange basin that it will funnel a quarter of its deepwater exploration budget for 2023 and 2024 into the country, according to chief executive Wael Sawan. Shell has made four significant discoveries in Namibia toContinue Reading
