Business

British junior miner Firestone Diamonds has agreed to extend the option period granted to Amulet Diamond Corporation (Amulet) to purchase Firestone’s BK11 asset until 31 December 2018. BK11 is a diamond asset in Botswana, currently on care and maintenance. Amulet is funding the construction and operation of a bulk sampling …

Weatherly International has promised its largest shareholder and debt provider Orion an improved production, amid uncertainties that continue to riddle the company. “The company will continue to strive to produce returns for Orion and all our stakeholders,” said. John Bryant, Weatherly Chairman. Bryant applauded the shareholders for the continued to support …

Debmarine has announced plans to construct the world’s largest custom-built diamond mining vessel. The new vessel projected to cost approximately US$142 million (N$2 billion), is expected to commence operations in 2021. According to De Beers, the ship will work alongside five other mining vessels in the Debmarine Namibia fleet, enhancing …

Russia has intentions to strengthen its bilateral relation with Namibia and increase wheat trade between the two countries. “Russia has always been clear in its desire for stronger trade with Namibia but this appears not to have been realised to its full potential. “In May of this year, trade between …

Vedanta Resources sees further upside for zinc prices as it announced a 37.4% rise in half-year profit. The company, which mines zinc in India, South Africa and Namibia, said earnings before interest, tax, depreciation and amortization rose to $1.69-billion in the six months ended Sept. 30, marginally below analysts’ estimate …

Business Monitor International (BMI) researchers have said uranium mining will be the main engine of growth in the coming quarters. The analyst’s latest Africa Monitor Report indicates that Namibia’s mining sector is seeing robust growth, posting 25.8 percent year-on-year growth in the second quarter of the year, led mainly by …

As intentions to increase mine-to-market value heighten in the Rio Tinto stable, the company has created a high profile position to stir this endevour. According to the company it intends to reinforce its focus on driving value across the business from mine to market with the appointment of Simon Trott …

Namdeb has confirmed the appointment of Riaan Burger, as the company’s chief executive officer with immediate effect. Burger, a mechanical engineer by profession, has been with the company for 22 years and has extensive experience ranging from general management, leading long term strategic projects, developing new mining methods as well as …

Impact Oil and Gas is optimistic that energy sector in Africa is destined for an upward swing. Mike Doherty, Executive Chairperson of the company said there was significant potential for growth in the oil and gas sector in Africa. He cited the continent’s ‘huge untapped potential’ offshore, particularly in deeper …

Mineworkers Union of Namibia (MUN) says Namdeb plans to close four mines in the coming five years. Mbidhi Shavuka, MUN Oranjemund Branch Chairperson told media that the union has started negotiating with Namdeb to save jobs. “We also understand that it is the nature of the resource; diamonds are finite,” …