Thursday , May 23 2024
Minister of Mines

Mines minister urges the sector to strengthen value chain management

The Minister of Mines and Energy, Tom Alweendo earlier this week said there is need of strengthening the value chain management in the country’s mining sector.

“It is a fact that the mining sector will play an even bigger role in our socio-economic development when we strengthen the value chain management in the sector,” the minister said at the Chamber of Mines AMG recently.

According to Alweendo this can be done in two ways, namely to strengthen the local linkages between the mining companies and the local entrepreneurs with regards to the supply chain demand and to add as much value as possible to the minerals that Namibia are mining.

Furthermore, the minister said that the mining sector can play a bigger role in economic development with the discovery of more minerals if good governance is practiced and the industry behaves and acts in a transparent manner.

The minister also said that the country’s mineral legislation has to be sufficiently attractive to inspire new investment.

“It is also important to make sure that our regulatory framework is clear and comprehensive in such a manner that investors are clear as to what is required of them. Additionally it is necessary that the legal framework in place is fully enforced in an even-handed manner,” he added.

Meanwhile Alweendo said that the current Mining Act is under review and he believes such review should be expedited and that it should be finalised before the end of this year.

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