Business

NEDBANK Namibia expressed willingness to finance the mining and resources sector, during the Namibian mining expo held in Windhoek recently. The corporate and investment banking mining and resources finance team shared insight on how the Namibian mining sector can position itself in the global context of direct foreign investments and …

De Beers’ rough diamond production for the first quarter of 2018 increased 15 percent to 8.5 million carats, reflecting the ramp-up of production from Gahcho Kué in Canada, which reached nameplate capacity in Q2 2017, and increased production from Orapa in Botswana in response to the sustained healthy trading conditions. …

Namibia Rare Earths Inc has increased private placement to Cdn$4,000,000, as the company raise capital to fund Kunene Cobalt-Copper. The development comes as a result of investor interest in the company. Rare Earths is increasing the non-brokered private placement previously announced in March from a maximum of Cdn$3,000,000 to a …

International diamond miner De Beers Group has announced intentions to pilot a programme called GemFair, to create a secure and transparent route to market ethically-sourced artisanal and small-scale mined (ASM) diamonds. The scheme GemFair will use dedicated technology to record ASM production at mine sites that meet demonstrable ethical standards, …

The International Monetary Fund says the country’s outlook remains positive with considerable vulnerabilities and risks. “Growth is projected to resume in 2018, as mining production ramps up, construction activity stabilizes and manufacturing recovers, before converging to a long-term rate of about 3½ percent, below the average of recent years,” said …

ExxonMobil has sold a stake on its petroleum explaration licence located on the Walvis basin to a Portugal based company. Galp has informed its shareholders on intentions to of farming-down a 40% interest in Namibia to an ExxonMobil subsidiary. Under the transaction, both Galp and ExxonMobil will hold a 40% …

Namdeb has announced that it’s seeking to secure long-term future for Elizabeth Bay Mine. Namdeb Holdings, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers Group, today announced it is to seek a buyer for its Elizabeth Bay mine to secure its long-term future. …

Vedanta Zinc International subsidiary has delivered strong zinc production at Black Mountain in the Northern Cape and at Skorpion in Namibia in the last quarter of 2017. In addition, the company also reported that the $400-million Gamsberg zinc project was on track for first production in mid-2018. Black Mountain recorded …

Caterpillar has announced intentions to present its unmatched range of innovative technologies and services at Mining Indaba billed for February 5-8 in Cape Town, South Africa. With a focus on optimizing operations, whether surface or underground, large or small, Caterpillar and Cat® dealers are dedicated to working with mining companies …

Canadian zinc miner Trevali Mining expects to produce 140% more zinc, this year. This follows a transformational 2017 that saw it produce a record 177.4-million payable pounds of zinc. The 2017 output was boosted by the December quarter production from the newly acquired Perkoa mine, in Burkina Faso, and the …