Page 292 – News Stand

29 Aug

Uranium market resurgence unfolding

info_e12wt4csEnergy, Observer MoneyBannerman Energy Ltd, Etango Project

CHAMWE KAIRA Bannerman Energy Ltd, which is developing the Etango project in the Erongo has said persistent cumulative supply gap now stands at approximately 150 million pounds of uranium oxide. Namibia stands to gain from increase in demand for uranium is it is one of the world’s largest producers of uranium. Bannerman said in a presentation to investors that Emerging Small Modular Reactor (SMR) technology is driving further new demand additions. The company added that the industry has lost a decade of uranium exploration and project development post Fukushima. The other factors that are driving demand for uranium include the…

29 Aug

ANIREP expecting changes to its operations

info_e12wt4csObserver MoneyAlpha Namibia Industries Renewable Power Limited, Namibian Stock Exchange

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) has extended its cautionary announcement it first issued on 16 August 2021, advising shareholders that negotiations are still in progress, which if successfully concluded, may have a material effect on the price of the company’s shares. “Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s shares until a further announcement is made,” it said on the Namibian Stock Exchange. The core annuity revenue for ANIREP is derived from the IPP sale of electricity and operations and maintenance services, both consistently generating cash in accordance with the nature…

29 Aug

Capricorn expecting higher profits

info_e12wt4csObserver MoneyCapricorn Group

CHAMWE KAIRA Capricorn Group’s expects profit after tax and earnings per share for the year ended 30 June to be materially higher by between 15% and 20% compared to what was reported in the prior period. Additionally, headline earnings per share for the year ended 30 June 2024 is expected to be materially higher than what was reported in the prior period by between 13% and 18%, the group said. Capricorn added that during the year ended 30 June, Capricorn Group implemented IFRS 17 – "Insurance Contracts", which requires full retrospective application for disclosure purposes. FRS 17 is an International…

29 Aug

FirstRand Namibia earnings to increase by 7% to 12%

info_e12wt4csObserver Money

CHAMWE KAIRA Firstrand Namibia Limited has said group's earnings and headline earnings for the year ended 30 June 2024 will be significantly higher than prior year by between 7% to 12%. “The main drivers of the increase in headline earnings are customer growth, credit extended during the period and higher transaction volumes. The group’s audited financial results will be released on or about 12 September,” the company said. In the 2023 annual report, the FirstRand Namibia group said it has made substantial strides towards delivering on its strategic targets and growing the business. The results showed a net profit after…

29 Aug

Langer Heinrich rakes in US$24.8m

info_e12wt4csObserver MoneyLanger Heinrich Mine

CHAMWE KAIRA The Langer Heinrich Mine raked in US$24.8 million in July with the first customer shipment, containing 319 229 pounds of uranium oxide that departed Walvis Bay, Namibia in July. The mine had been under care of maintenance for a number of years. The shipment came with a partial advance payment under the terms of the customer offtake agreement. Paladin Energy of Australia, which is the major shareholder, said the restart project was completed on time and within cost forecast, with total project expenditure of US$119.7 million. Paladin successfully achieved the commercial production targets set for the 2024 financial…

29 Aug

Uranium exploration gets positive feedback

info_e12wt4csObserver MoneyGIB Mining in EPL 10131, Namisun

CHAMWE KAIRA Namisun, the environment project company has said its opinion is that the environmental aspects and potential impacts relating to the proposed uranium exploration activities of GIB Mining in EPL 10131 in the Namib Naukluft National Park (NNNP), in the Erongo Region, have been successfully identified and assessed as part of this EIA Scoping process. Namisun said relevant management and mitigation measures have been provided to ensure significant environmental and social impacts are avoided or minimized and positive social impacts enhanced, where relevant. In consideration of the park management plan of NNNP, careful consideration from GIB Mining as well…

29 Aug

Demand for African airlines cargo grow by 6.2%

info_e12wt4csObserver MoneyInternational Air Transport Association (IATA)

The International Air Transport Association (IATA) has just released its July 2024 year- on -year analysis of the air cargo market and traffic. During the month in review, African airlines saw 6.2% year-on-year demand growth for air cargo in July, the lowest of all regions and their lowest recorded figure in 2024. Demand on the Africa–Asia market increased by 15.4% compared to July 2023 while July capacity increased by 10.5% year-on-year July’s figures reflect slower year-on-year demand and capacity compared with June when demand was up 11.8% year-on-year and capacity rose expanded by 23.8% year-on-year. By comparison, the global airline…

28 Aug

Police officer nabbed in recruitment scam

info_e12wt4csMainKauna Shikwambi

Martin Endjala and Ester Mbathera A police officer has been arrested in connection with a recruitment scam and is set to appear in court on 8 October. This was confirmed by Nampol’s national spokesperson, Deputy Commissioner Kauna Shikwambi, on Wednesday. “Thus far, only one officer was arrested. The investigation is still ongoing. His next court date is 08 October 2024. The case was postponed for further investigations,” she disclosed. The Windhoek Observer has established that the officer has been in police custody for the past three weeks in the cells of the Seeis police station. Fillipus Meleksedek exposed the issue…

28 Aug

Trustco Mining discovers a 391-carat diamond in Sierra Leone

info_e12wt4csNational News

Hertta-Maria Amutenja Trustco Group Holdings Ltd. has announced the discovery of a 391.45-carat diamond through its investment in Meya Mining, where it holds a 19.5% stake in the Kono District of Sierra Leone. The diamond was discovered on Tuesday, 20 August 2024, in the Kono District, an area known for its rich diamond deposits. Meya Mining holds a 25-year exclusive diamond mining license in this region, which includes the Kamara Gbense and Tankoro chiefdoms. This find is the second large diamond recovered from the Meya River kimberlite domain, the first of 16 kimberlite domains that Meya Mining is targeting within…

28 Aug

Suspected case of Mpox detected at Rundu District Hospital

info_e12wt4csNational News

Martin Endjala The Rundu District Hospital has reported a suspected case of Mpox in a two-year-old girl. Ida Mendai, the regional health director of Kavango East, confirmed this development. “Yes, we have a suspected case of Mpox, a two-year-old girl. But so far everything is under control while we wait for results from South Africa. It is just a suspected case. It's not confirmed yet,” she said. According to Mendai, the little girl is currently confined to isolation facilities and under observation while the hospital awaits test results. Mendai added that the patient came from Angola. The Ministry of Health…