Page 422 – News Stand

25 Apr

Langer Heinrich to export after six-year closure

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Paladin Energy CEO, Ian Purdy said has said after a period of nearly six years of care and maintenance, returning the Langer Heinrich Mine (LHM) in the Erongo Region to commercial production was an important milestone for the company. Purdy said Paladin remains focused on the ramp up of production and delivering of its first shipment to its international customers. “With a strong uranium price outlook, a world-class long-life asset, and a strong balance sheet, Paladin remains well positioned to generate strong returns for our stakeholders.” Commercial uranium concentrate production and drumming were achieved at the Langer Heinrich Mine (LHM)…

25 Apr

Mines employed 18 189 in 2023

info_e12wt4csObserver Money

Total direct employment in the mining industry increased by 12,6% in 2023 to 18 189, from 16 147 in 2022. Zebra Kasete, President of the Chamber of Mines of Namibia attributed the increase to the creation of new employment positions resulting from the restart of the Langer Heinrich mine and expansion of other operations. Direct employment consisted of 8 950 permanent employees, 803 temporary employees and 8 436 contractors. Kasete said every job created by the industry also generates important sources of revenue for government through PAYE and VAT as a consumption tax. In 2023, employees from mining companies paid…

25 Apr

Trustco shares change hands

info_e12wt4csObserver Money

Trustco Group Holdings Limited has entered into an agreement with Riskowitz Value Fund LP to acquire 1 135 shares in Legal Shield Holdings Limited from RVF through issuing new Trustco shares to the seller. Trustco said the purchaser shall pay to the seller by issuing four hundred million new Trustco (TTO) shares listed on the JSE, at a share price of 117 cents per share in exchange for the sale shares in Legal Shield Holdings Limited. The book value of the net assets of Legal Shield Holdings Limited, which are the subject of the transaction, as of 31 August 2023,…

25 Apr

Namibian Phala Phala suspect sentenced to 20 years imprisonment in South Africa

info_e12wt4csNational NewsUrbanus Shaumbwako

Erasmus Shalihaxwe Namibian citizen, Urbanus Shaumbwako, who is one of five individuals accused of breaking into the Phala Phala farmhouse of South African President Cyril Ramaphosa, has been handed a 20-year jail term in that country. South African media reported that Shaumbwako was sentenced last week Thursday in the Cape Town Regional Court. Shaumbwako, aged 41, faced a myriad of charges, including possession of prohibited firearms, obstructing justice, and reckless driving. His sentencing came as a result of investigative work by the South African Directorate for Priority Crime Investigation, commonly known as the Hawks. The sentencing breakdown revealed that Shaumbwako…

25 Apr

Sworn in

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Popular Democratic Movement (PDM) member Theofelus Kamati, was sworn in this morning as a Member of Parliament in the National Assembly by Chief Justice Peter Shivute.Kamati replaced Vipuakuje Muharukua, who recently resigned from PDM and the National Assembly.Reporter: Stefanus Nashama.

25 Apr

Former Samherji fisherman dies

info_e12wt4csFeaturedSamuel Japhet (41)

Ester Mbathera A fisherman, who previously worked for Samherji on a fishing vessel linked to the Fishrot corruption saga, died on Tuesday morning. Samuel Japhet (41) died on his bed in a cabin onboard the MV Heinaste vessel which belonged to Heinaste Investment Namibia a joint venture company between Namibian rights holders and Icelandic seafood company, Samherji. The vessel was sold to Tunacor Fishing Company in 2021 and renamed Tutungeni. According to police reports Japhet was found by his colleagues who went to wake him up for duty at around 03:00 in the morning. “A doctor from the same vessel…

24 Apr

Namibia’s Largest Museum Set to Anchor in Lüderitz

info_e12wt4csNational News

Lüderitz is currently in full preparation to open the long-awaited maritime museum that will bear witness to Namibia's commitment to preserving and showcasing its maritime heritage. The museum will also serve as a starting point for educational and economic opportunities for the community and visitors alike. The maritime museum is the brainchild of fisheries industry veteran, Angel Tordesillas and the Lüderitz Waterfront Development Company (LWDC). LWDC Chief Executive Officer, Fluksman Samuehl, announced the planned grand opening of the museum. “The museum will cover 2,000 square metres and will feature ancient water craft, fossils, maps, and a library,” he said. Samuehl…

24 Apr

NDTC diamond sales exceed two million carats

info_e12wt4csObserver Money

Martin Endjala Despite global market challenges, the Namibia Diamond Trading Company (NDTC), says it has sorted, valued and marketed about 2.3 million carats of the precious stones during the 2023 financial year. Brent Eiseb, the chief executive officer of the NDTC made these remarks during a graduation ceremony of the Enterprise Development Programme (EDP) on Tuesday in Windhoek. “NDTC remains firm in delivering on its mandate of sorting, valuing, and selling the diamonds recovered by NAMDEB Holdings,” said Eiseb. Eiseb explained that during the rough diamond supply period in 2023, the NDTC sold approximately 77% of its total offering to…

24 Apr

NUDO bans slate politics ahead of elective congress

info_e12wt4csNational News

Erasmus Shalihaxwe Those contesting for the National Unity Democratic Organisation (NUDO) presidency at the party’s upcoming elective congress, are not allowed to campaign individually but will have to do so with other candidates to avoid divisions within the party. The party’s secretary general, Joseph Kauandenge, announced this during a media conference at Parliament on Wednesday. “As a strategic decision to avert disunity among party members, slate politics is completely obliterated. Hence, no aspirant leaders will be allowed to organise individual or solo formal public campaigns; however, aspirants can campaign freely on a small scale internally,” he said. He said this…

24 Apr

Walvis Bay council passed a motion to end RedForce agreement

info_e12wt4csNational News

Martin Endjala The Walvis Bay Municipal Council, during an extraordinary meeting on Tuesday, passed an unopposed motion to terminate its contract with RedForce Debt Management with immediate effect. The motion comes after the Walvis Bay community marched to the streets, demanding the termination of the debt collector’s contract. The motion titled ‘Termination of the contract to render debt collection and management services to the Municipality of Walvis Bay’ seeks and requests a firm decision, which will be made by council members, to act in good faith and the public interest when carrying out responsibilities trusted upon them. Ryan Gordon, the…