Business

Rio sells uranium stake Rössing Uranium mine Rio Tinto has plans to offload its stake in Rössing Uranium Mine to China General Nuclear Power Company (CGNPC). Though the mining giant has not officially acknowledged the negotiations with CGNPC, energy minister Simeon Negumbo has confirmed the development to media. Rio has …

CXT Explore is one of the most innovative products to come from Konecranes recently. According to the company, the product is a combination of a 6.3T mobile overhead crane, travelling on a gantry, supported by two sturdy containers which make for fully equipped workshop that can literally be set up …

Weatherly International has outlined a recovery plan for its Tschudi Copper mine in Namibia, following significant water ingress on 11 May 2018. The recovery strategy and expenditure plan, which will require a capital investment of N$14,300,000, has been approved and work is underway to increase pumping capacity to lower and …

De Beers Canada has entered into an agreement to acquire 100 per cent of the outstanding securities of Peregrine Diamonds, owner of the high quality Chidliak diamond resource located in Canada’s Nunavut Territory. The Chidliak resource was discovered in 2008 and is located approximately 120 kilometres northeast of Iqaluit on …

De Beers has announced that rough diamond production for the second quarter of the year, increased three per cent to 9.0 million carats, reflecting production increases to meet stronger demand as well as the contribution from the ramp-up at Gahcho Kué. In Botswana, the group’s company Debswana’s production increased six …

WearCheck’s newest laboratory is officially open in southern Namibia, bringing to 16 the number of laboratories that the company operates in nine countries around Africa and beyond. Situated at Skorpion Zinc mine near Rosh Pinah, the new lab is strategically placed to answer a growing call for world class condition …

Pan-African explorer Oranto Petroleum is farming into two exploration blocks located onshore Zambia, as part of the company’s first investment in the country. “Oranto Petroleum is committed to an aggressive work program to increase the level of prospectivity in one of the world’s last true frontier markets,” said Prince Aurthe …

Oshikoto has anchored hope on micro- financing to advance economic development and withstanding the headwinds of the country’s dwindling economy. Henock Kankoshi, Oshikoto Governor’s recent State of the Region Address (SORA) highlighted that eight income generating projects in rural areas from different constituencies received a collective funding of N$528 846 …

Trevali has been appointed Gerbrand van Heerden Chief Financial Officer of the Company, effective June 1, 2018. Gerbrand most recently served as Trevali’s Senior Vice President – Business Initiatives and Development. He joined Trevali in 2017 following the Company’s acquisition of the Perkoa and Rosh Pinah mines. Gerbrand is both …

Central bank governor Ipumbu Shiimi says activity in the construction and wholesale sectors are expected to contract further in 2018. Shiimi said these sectors were expected to contract at the ‘rate they contracted for the past two years’. “Unfortunately, the construction and wholesale sectors are still struggling. We expected deep …