Observer Money

Langer Heinrich production increases by 17%

Langer Heinrich production increases by 17%

CHAMWE KAIRA  The Langer Heinrich Mine produced 745 484 pounds of uranium oxide during the quarter ending 31 March, a 17% increase on the previous quarter’s production, totalling over two million pounds’ production for the financial year to date. The mine is owned by Paladin Energy. Paladin Energy CEO Ian Purdy said the one-in-fifty-year rainfall event at the mine and surrounding areas in March caused the suspension of operations, saturation of the stockpiles and impacts on the processing plant chemistry.  Additionally, flooding in the pit identified for early commencement of mining, along with delays in the delivery and mobilisation of…
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Namibia produces 631 584 rough diamonds in Q1

Namibia produces 631 584 rough diamonds in Q1

CHAMWE KAIRA  Namibia produced 631 584 carats of rough diamonds in the first quarter ended 31 March 2025, Anglo American, which owns De Beers, said. De Beers jointly owns several diamond production and processing companies with the Namibian government. Production figures indicated that Debmarine Namibia produced 461 395 carats, while Namdeb (land operations) produced 170 189 carats. Namibia produced 584 000 rough diamonds in the fourth quarter of 2024. Rough diamond production in the third quarter of 2024 was 456 000 carats, while in the second quarter of 2024 it was 561 000 carats and 633 000 carats in the…
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Namibia sets sights on energy-driven growth rooted in local value

Namibia sets sights on energy-driven growth rooted in local value

Niël Terblanché Namibia’s path to becoming a regional energy powerhouse will remain firmly grounded in national values, long-term planning, and partnerships that prioritise local development. This was the message delivered by Prime Minister Elijah Ngurare, speaking on behalf of President Netumbo Nandi-Ndaitwah, at the official opening of the Namibia International Energy Conference in Windhoek on Wednesday. “Namibia is on the path to becoming a leading energy hub, not just in ambition, but in action. This transformation is deliberate, self-directed, and grounded in who we are,” Ngurare declared. Ngurare stressed the government’s strategy of building inclusive, sustainable growth through the responsible…
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Venus Oil Project enters environment study phase

Venus Oil Project enters environment study phase

Ester Mbathera  The Venus Oil Project, located offshore in Block 2913B, has entered its environmental and social impact assessment (ESIA) phase as TotalEnergies EP Namibia B.V. and its joint venture partners NAMCOR and QatarEnergy move ahead with plans to start oil production. The Venus Field lies approximately 290 kilometres southwest of Lüderitz, in waters around 3 000 metres deep. The proposed development involves drilling up to 40 subsea wells, installing supporting infrastructure, and deploying a floating production storage and offloading vessel (FPSO) to process and store the extracted oil. The FPSO will offload oil to tankers for export, while supply…
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PPS members to share N$5.59bn

PPS members to share N$5.59bn

CHAMWE KAIRA  Pension fund PPS South Africa has said its members in Namibia should again be pleased with the profits that were generated for them. This year, the company allocated a record-high N5.59 billion in profit share to South African and Namibian members with qualifying life-risk products to their notional PPS profit-share accounts. This amount follows the previous record-high allocation of N5.46 billion in 2021. Additionally, the annual gross benefits paid were N$5.95 billion (2023: N$6.12 billion; due to lower exit claims payment). Together, these amounts totalled N$11.54 billion in 2024, compared to N$10.70 billion in 2023. “From a membership…
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Green hydrogen plant reaching commissioning stage

Green hydrogen plant reaching commissioning stage

The Cleanergy Solutions Namibia, a joint venture between the Ohlthaver & List (O&L) Group and CMB.TECH is developing a green hydrogen production plant in the Erongo region. The Hydrogen Dune comprises hydrogen production, a refuelling station and the hydrogen academy.  Katrien Hennin of CMB.TECH gives an update in response to questions by Observer Money.  Observer Money (OM): Will the hydrogen refuelling that is expected to be operational be reserved for trucks under Cleanergy Solutions Namibia or are they for the whole Namibian market? Katrien Hennin (KH): The green hydrogen refuelling station expected to be operational mid 2025 will not be…
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Standard Bank in position to fund oil projects

Standard Bank in position to fund oil projects

CHAMWE KAIRA  Simonis Storm Securities has said if exploration in the Orange Basin moves to large-scale production, Standard Bank Namibia has established relationships with key upstream players that should translate into mandates for project finance, transactional banking, and treasury services. The firm said this upside scenario could accelerate the loan book well beyond single-digit growth. In terms of renewable energy financing, Namibia’s push for wind and solar in remote areas intersects with growing private sector appetite for sustainable energy solutions. It said other banks are refining digital strategies but said Standard Bank Namibia Holdings’ synergy with the broader Standard Bank…
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Andrada announces Uis exploration drilling results

Andrada announces Uis exploration drilling results

CHAMWE KAIRA  Andrada Mining Limited has announced initial drill results from 13 proximal pegmatites located within the Uis Tin Mine licence area (ML134) in Namibia’s Erongo Region. The company said the results reaffirm the scale and quality of mineralisation across the site and support its goal of expanding the production of tin, lithium, and tantalum—minerals critical to the global energy transition. These pegmatites are within a 3km radius from the existing processing plant at the Uis Tin Mine and constitute part of a swarm comprising approximately 180 mineralised pegmatites identified to date within the license area. The ongoing programme covering…
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Air cargo key to supply chain resilience

Air cargo key to supply chain resilience

The International Air Transport Association (IATA) emphasized the vital role of air cargo in maintaining global supply chain resilience and called on governments and industry to remain focused on delivering the fundamental expectations of customers, safety and security, digitalisation and sustainability. “Whether supporting global trade, enabling e-commerce, or delivering vital humanitarian aid, the value of air cargo has never been clearer. To meet customer expectations and navigate an increasingly complex environment, the air cargo industry must continuously strengthen safety and security, fast track digitalization, and deliver on its sustainability commitments,” said Brendan Sullivan, IATA’s Global Head of Cargo at the…
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Geopolitical risks raising concerns about financial stability

Geopolitical risks raising concerns about financial stability

Global geopolitical risks remain elevated, raising concerns about their potential impact on economic and financial stability. Shocks such as wars, diplomatic tensions, or terrorism can disrupt cross-border trade and investment. This can hurt asset prices, affect financial institutions, and curtail lending to the private sector, weighing on economic activity and posing a threat to financial stability. Such risks are challenging for investors to price due to their unique nature, rare occurrence, and uncertain duration and scope. This can lead to sharp market reactions when geopolitical shocks materialise.  As we show in a chapter of the latest Global Financial Stability Report,…
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