Windhoek Observer – Page 254 – Windhoek Observer

27 Feb

Andrada announces employee incentive scheme

Observer Money

CHAMWE KAIRA Andrada Mining Limited, a tin producer with a critical raw materials portfolio of mining and exploration assets in Namibia, has provided an update on its remuneration policy. The policy was approved by shareholders at the company's general meeting held in September last year. On 1 March 2024, the company approved the payment of certain cash bonuses as part of the remuneration policy for the full year ended 28 February 2024. Only 50% of the cash bonuses have been paid to date. The company achieved an overall performance score of 65% in the 2024 financial year based on the…

27 Feb

Deep Yellow optimistic about uranium price

Observer Money

CHAMWE KAIRA Deep Yellow, which is developing the Tumas Project in the Erongo Region, says it has established the right platform at the right time, ready to build greenfield projects when the price is right. The company said in a project update that the uranium market backdrop creates exceptional opportunities in the post-Fukushima supply reconstruction era and taking advantage of an assured supply shortage further exacerbates a bifurcated market. The company said it has a strong financial position with Australian dollar (A$) 238.4 million cash to initiate development of Tumas and pursue a growth strategy. The financial investment decision on…

27 Feb

Trans-Kalahari Rail Project still on cards

Observer Money

CHAMWE KAIRA The government wants the Trans-Kalahari Rail Corridor Development Project, a joint project with Botswana, to be implemented as soon as possible. The Trans-Kalahari Railway project is poised to yield substantial socioeconomic advantages, such as significantly enhancing the rail capacity of Botswana Railways and TransNamib Holdings Limited. Additionally, it promises to alleviate the strain on regional road infrastructure and reduce the likelihood of accidents involving heavy trucks and smaller vehicles, as freight transportation shifts from road to rail. Minister of Works and Transport, John Mutorwa, told a meeting of officials of the two countries that the governments of Namibia…

27 Feb

Benjamin announces provisional Brave Warriors squad for World Cup qualifiers

Sports

Erasmus Shalihaxwe Senior national football team coach Collin Benjamin has called up 30 players to the provisional squad for the Brave Warriors for the 2025 World Cup qualifying games scheduled for next month. The team is set to face Malawi on 17 March in the away game before playing their home game in South Africa against Equatorial Guinea on 24 March. Namibia is in a good position to make history by qualifying for the World Cup for the first time. They sit second in Group H with eight points from four games, winning two, drawing two, scoring six goals, and…

27 Feb

Deep Yellow says court action without merit

Observer Money

CHAMWE KAIRA Deep Yellow has said legal action against the company by Jurgen Hoffman and Tumas Granit is completely without merit and that the company will take all necessary action to protect its interests, as it has done on all previous occasions. The company is developing the Tumas uranium project in the Erongo Region. Deep Yellow further clarified that Jurgen Hoffman and Tumas Granite are not Deep Yellow’s partners in Namibia. Last week it emerged that Hoffman had commenced proceedings against the Minister and Ministry of Mines and Energy to have the mining license declared void. Deep Yellow in a…

27 Feb

Cactus farm to raise money through equity, project financing

Observer Money

Namibia will become the first country in the world to generate carbon credits under a project by the Nopal Renewable Energy Corporation. Observer Money asked Nicole Maske, a partner at Nopal Renewable Energy Corporation on how the company will progress with its plans. The company plans to invest N$1.8 billion in a large-scale nopal cactus farm in Maltahöhe, aiming to establish Namibia as a leader in carbon sequestration through agriculture. Observer Money (OM): How will Nopal Renewable Energy raise N$1.8 billion needed for the next three years needed to invest in the cactus farm at Maltahöhe? Will this money be…

27 Feb

Otjikoto saying goodbye to open pit mining

Observer Money

CHAMWE KAIRA Open-pit mining operations at the Otjikoto Mine are set to conclude in 2025, while processing operations will continue until economically viable stockpiles are exhausted in 2032. B2Gold, which holds a 90% interest in the mine, disclosed in its financial results that underground operations under the current mine plan are projected to continue into 2027. There is potential to extend underground operations if ongoing exploration identifies additional mineral deposits. Located between Otavi and Otjiwarongo, the Otjikoto Mine had a strong performance in 2024, producing 198,142 ounces of gold. This figure is near the midpoint of its guidance range of…

26 Feb

The Founding Father’s final journey

Main

Ester Mbathera The body of founding president Sam Nujoma will arrive in Windhoek on Thursday after a series of regional memorial services held across the country. The arrival marked the final leg of a nationwide memorial tour that allowed the public to pay their respects to the late leader. These services took place in Etunda, Eenhana, Rundu, Katima Mulilo, Grootfontein, Walvis Bay, and Keetmanshoop. Nujoma’s body will arrive at Hosea Kutako International Airport (HKIA) from Keetmanshoop. A street procession will follow the arrival, starting at HKIA and moving through designated routes in Windhoek. The procession will start at 8h30, passing…

26 Feb

NFC opens theft case over unreturned equipment

National News

Ester Mbathera The Namibia Film Commission (NFC) has registered a case of theft with the Namibian Police after executive producer Sonnyboy Amutenya failed to return equipment he borrowed from the commission. The NFC has stated that it cannot provide details about the type of equipment or its value at this time. NFC executive secretary Florence Haifene confirmed that a case had been opened after repeated attempts to contact Amutenya proved unsuccessful. "He borrowed the equipment but did not return it on time. We tried to contact him and have not received any response. As per procedure, we have to open…

26 Feb

NALOBA warns local authorities against outsourcing debt collection

National News

Allexer Namundjembo The Namibia Local Business Association, Naloba (NALOBA) cautioned local authorities to thoroughly evaluate the consequences of outsourcing debt collection services. The association’s president, Erastus Shapumba said in a statement released on Wednesday, following Redforce Debt Management CC's court victory against the Henties Bay Municipality. “It is imperative that town councils and chief executive officers critically assess the implications of these investments,” Shapumba said. He condemned the action of debt collection by local authorities through third parties, describing it as resembling "a new form of colonialism." "We, as an organization, refuse to allow such practices to take root in…