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De Beers support ASM trading

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, …

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Uncertainties continue to haunt economy

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 …

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ExxonMobil sells 40% stake to Galp

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% …

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