Page 572 – News Stand

01 Sep

Corruption at the heart of NAMCOL staff resignation: Amupanda

info_e12wt4csNational NewsCorruption at the heart of NAMCOL staff resignation: Amupanda

Stefanus Nashama Affirmative Repositioning Movement Leader, Job Amupanda has criticised Namibia College of Open Learning (NAMCOL) for failing to hold accountable an employee who was reported to have misappropriated N$305,770.00 of student funds. The activist leader accused the institution of organising the employee’s resignation without taking serious action because there were people from high offices involved. “The corrupt chain has organised that the accountant resigns,” he said. Amupanda said while NAMCOL is claiming to have a zero-tolerance stance against theft, fraud and corruption, he has been informed that someone had started deleting information regarding the matter to protect the ‘corrupt…

01 Sep

Tantalum mining to commence next year

info_e12wt4csNational News

Martin Endjala Swanson Tantalum Mining production is set to commence with mining operations between October and November 2024. With a feasibility study already completed and a final investment of USD7 million in finance already secured together with all necessary permits the company is ready to start production. Acadia Minerals Chief Executive Officer Philip Le Roux explained that a large number of well-mineralised pegmatites are also present on the property and the potential of the occurrences is highlighted by extensive, small-scale mining activities where tantalum, beryl and spodumene were extracted from the pegmatites. He was speaking at the 2023 Mining Expo…

01 Sep

DBN signs concessional loan agreement to mitigate climate challenge

info_e12wt4csNational NewsDBN signs concessional loan agreement to mitigate climate challenge, Development Bank of Namibia (DBN)

Stefanus Nashama The Development Bank of Namibia (DBN) on Wednesday signed a N$600 million concessional loan agreement with the KfW, the German Development Cooperation, to develop infrastructure to mitigate challenges presented by climate change. During the signing ceremony this week, both institutions announced that the loan will be used to develop climate-related infrastructure, such as renewable energy, water and low-carbon transport projects. The agreement follows the first credit line amounting to approximately N$240 million, which was signed between DBN and KfW in December 2018. DBN Chief Executive Officer, Martin Inkumbi said the first credit line after being successfully placed in…

01 Sep

A third of the Namibian population faces starvation

info_e12wt4csMainA third of the Namibian population faces starvation

Niël Terblanché The Namibian government will spend N$892.4 million on a food relief program, agricultural support, and water provision to prevent the starvation of a third of Namibia’s population. During the introduction of the latest Namibia Livelihood Vulnerability Assessment and Analysis (VAA) 2023/24 Report, which was compiled by the Executive Director within the Office of the Prime Minister, I-Ben Nantangwe Nashandi, it came to light that the number of people that will face food insecurity will rise to 695 000 in the next six to seven months. This is a significant increase from the current estimate of 579 000 people…

31 Aug

High mineral prices drive port volumes

info_e12wt4csObserver MoneyHigh mineral prices drive port volumes

The Namibian Ports Authority says the mineral commodities are a key driver of Namibian ports cargo volumes. There is a high correlation between global commodity prices and cargo movement through the port, the Authority stated. It stated that where the commodity prices are favourable, it drives increased mining activities and an uptick in volumes throughput through the ports supporting these activities. Commenting on the minerals that are exported via Walvis Bay, the Authority, said in 2022, the copper price increased by 17.8% to an average of US$9,985 per metric tonnes during the first quarter of 2022. The increase was due…

31 Aug

Namibian uranium to drive energy transition

info_e12wt4csObserver Money

Uranium extracted and processed at the Langer Heinrich Mine (LHM) in Namibia’s Erongo Region will be harnessed to supply nuclear power plants, propelling the global shift towards a sustainable, carbon-free energy future. The mine is slated to recommence operations in the coming year. Paladin Energy, the owner of LHM, has stated that at peak output, the mine will annually yield sufficient uranium fuel to sustain over ten 1,000 MWe (Megawatt Electrical) nuclear power plants. Over the mine’s operational lifespan, attaining equivalent power through coal-fired electricity would result in an annual average of 58 million tonnes of carbon dioxide emissions. This…

31 Aug

Husab mine foresees a lifespan of 20 Years

info_e12wt4csObserver MoneyHusab mine foresees a lifespan of 20 Years

Situated in the Erongo Region, the Husab mine stands as the second-largest uranium mine, boasting a staggering investment of US$5 billion, and it holds the potential to remain operational for over two decades. During the first half of the current year, uranium production at Swakop Uranium’s Husab Mine surged by 10% compared to the budgeted commitment. Tallying at 2426 tonnes, the uranium production for the first half of 2023 marked a remarkable 45% upturn from the same period in 2022. This significant enhancement in uranium production can be attributed to the robust performance in mining and milling witnessed so far…

31 Aug

Mining to focus on sustainable supply

info_e12wt4csObserver MoneyMining Expo and Conference, Mining to focus on sustainable supply

The 10th Mining Expo and Conference that will take place this week will be the platform that brings Namibia’s mining sector closer to the heart of the nation, its people, the Chamber of Mines of Namibia said. The Expo and Conference Scheduled to take place on the 30th and 31st of August, reflecting the industry’s commitment to openly engage all stakeholders. RMB is the anchor sponsor for the event, the with the secondary sponsors, Continental Lithium Africa and Andrada Mining. The theme for this year’s conference, “Namibia’s Role in the Sustainable Supply of Minerals to Support the Global Energy Transition,”…

31 Aug

Billions budgeted for upgrade of Telecom infrastructure

info_e12wt4csNational NewsBillions budgeted for upgradeof Telecom infrastructure, Stanley Shanapinda

Stefanus Nashama Telecom Namibia has revealed its plans to invest N$2.3 billion in the upgrading and replacing of the company’s ageing infrastructure over the next five years, to improve and maintain its service delivery to clients. Telecom Namibia Chief Executive Officer, Stanley Shanapinda, made the revelations this week during an interview with Windhoek Observer. According to Shanapinda, the money would be spent through the rollout of fibre, replacing the Fixed Mobile Convergence Core, Operations Support Systems, Business Support System and mobile expansion. He said the company is obliged to invest 15 percent of its revenue in capital projects to maintain…

31 Aug

Vandals destroy TransNamib infrastructure in the South

info_e12wt4csNational NewsStanding Committee on Economics and Public Administration, Vandals destroy TransNamib infrastructure in the South

Hertta-Maria Amutenja TransNamib, the national railway company, finds itself grappling with a surge in vandalism and significant infrastructural damage that has taken a toll on the country’s vital railway networks in the southern regions. While engaging TransNamib staff, Members of Parliament on the Standing Committee on Economics and Public Administration have been briefed on the daunting task of maintaining rail infrastructure that is persistently subjected to severe damage and vandalism in areas like Luderitz and Keetmanshoop. In a resolute effort to revitalize Namibia’s railway sector, the Standing Committee has embarked on a series of onsite visits to Luderitz and Keetmanshoop…