Wednesday , April 24 2024

New frontiers for solid mineral, oil and gas

As the economy shifts out of the COVID-19 pandemic’s negative yokes, new frontiers for the country’s solid minerals, oil and gas are on the horizon.

This year’s Mining Expo and Conference coming after a two-year hiatus due to the pandemic attracted a huge turnout, casting positive vibes for the organisers, Namibia’s Chamber of Commerce.

The two-day Mining Expo and Conference held under the banner: ‘Breaking New Frontiers in a Post-Pandemic Era’ had 103 exhibitors occupying 163 stands, as compared to 88 exhibitors with 136 booths in 2019.

The exhibitors at the jamboree were showcasing the entire extractive industry, from solid minerals to oil and gas, according to President Hilifa Mbako of the Chamber of Mines.

In addition, the conference lined up a total of 12 presentations to reflect on the industry performance during 2021 and presented the resurgence of mining and exploration in a rapidly improving commodity price environment.

The Deputy Minister of Mines and Energy, Kornelia Shilunga commenting at the event said the improvement of global commodity prices brings hope to the mining sector.

“The sector should look forward to more exploration activities and mine expansions. This will ultimately lead to more job creation in the sector,” she said.

The vast opportunities in the country’s mining industry sector has also attracted foreign investors. The Indonesian Ambassador, Wisnu Edi Pratignyo said Namibian mining sector has a vast development potential.

The Indonesian Embassy believed that this years’ exhibition was suitable for promoting the Indonesian mining sector to Namibians.

Meanwhile the central bank has projected an improved growth in 2022 mainly on account of anticipated better performance in the mining industry, supported by a buoyant mineral commodity market and a fast-paced operating environment that is evolving with rapid technological advancements being made in the mining sector.

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