Page 673 – News Stand

21 Jul

Water, power deficits seen as risks to gold project

info_e12wt4csE-Observer, Observer MoneyOsino Resources Corp, power deficits seen as risks to gold project, Water

CHAMWE KAIRA Water and electricity supply have been cited as potential risks that could affect the establishment of a new gold mine in the Erongo Region. The definitive feasibility study of the Twin Hills Gold Project near Karibib has said a key project risk is water supply. In order to mitigate this risk, Osino Resources Corp, the company that plans to build the mine has confirmed the long term supply potential from the nearby aquifers in limestone formations and has begun investigations to construct a small dam on the nearby ephemeral river. Osino is a Canadian gold exploration and development…

21 Jul

BoN staying away from BIPA tiff

info_e12wt4csObserver MoneyBoN staying away from BIPA tiff, Integrated Business Registration System (IBRS)

The Bank of Namibia is reportedly to have opted to stay away from the controversy surrounding procurement of the Integrated Business Registration System (IBRS) by the Business and Intellectual Property Authority (BIPA). The central bank is said to be viewing the matter as an internal squabble among BIPA executives on how to implement the system, sources similar with the matter said. The implementing of the system is key if Namibia is to avoid being greylisted by the Financial Action Task Force (FATF) for falling short of certain international standards for combatting money laundering and other serious financial crimes. Sources who…

21 Jul

Nuclear power key to carbon emission targets

info_e12wt4csObserver Money

CHAMWE KAIRA The Australian based mining company, Deep Yellow, which is exploring for uranium in Namibia said this week that nuclear power will be key to achieving global carbon emission targets. CEO John Borshoff said this week that a growing number of governments pivot energy strategy are going towards nuclear energy. Deep Yellow has two projects in Namibia, Tumas and Omahola. Borshoff said in terms of uranium production, demand is outstripping supply with existing producers and proposed new mines unable to respond in time and at current prices to meet demand requirements. He added that uranium price will need significant…

21 Jul

Paladin secures six offtake contracts

info_e12wt4csObserver MoneyPaladin CEO, Paladin secures six offtake contracts

CHAMWE KAIRA Paladin Energy, which is in the process of restarting the Langer Heinrich uranium mine in the Erongo Region has secured cornerstone offtakes with foundation customers and has six offtake contracts executed with top tier counterparties in the US, Europe and China. Paladin CEO, Ian Purdy said the contract book for 2024 is now closed. “These contracts range in type and duration and provide base-escalated, fixed-price and market related pricing mechanisms. Along with the market-related contract in place with China National Nuclear Corporation (CNNC,) Paladin will retain significant upside exposure to the strengthening uranium market fundamentals. The company is…

21 Jul

Oil, hydrogen projects increase business visitors

info_e12wt4csObserver MoneyGreen Hydrogen Commissioner, hydrogen projects increase business visitors, Oil

CHAMWE KAIRA The current oil exploration and green hydrogen projects in the country are increasing the number of business visitors to Namibia. Recent figures show that tourists that entered Namibia for business purposes increased their share of the market to 17.3%, while leisure tourist constituted 80.4% of the market and 1.38% of visitors came for conferences in June. Presidential economic adviser and Green Hydrogen Commissioner, Office of the President of Namibia, James Mnyupe in an interview early this month disclosed that Namibian Synthetic Fuel Industry Strategy estimated that more than 184 000 direct jobs could be created by 2040, up…

21 Jul

Rebuild passenger confidence in checked baggage

info_e12wt4csObserver MoneyRebuild passenger confidence in checked baggage, SITA Baggage IT

Recently, I was on a flight that was severely delayed with most passengers trying to bring their luggage into the cabin. There was simply no space on board. The flight ended up leaving more than an hour late. No doubt fears of their bags being misplaced or long delays waiting at the baggage carousel were weighing heavily on most passengers’ minds. They no longer felt confident checking their baggage. What are the numbers telling us? Data from the latest SITA Baggage IT Insights report confirms a spike in baggage mishandling emerging from the pandemic. The latest data from IATA shows…

21 Jul

Fishing sector only accounts for 12% of tax revenue

info_e12wt4csMainCommissioner Sam Shivute, Fishing sector only accounts for 12% of tax revenue

Martin Endjala The Namibia Revenue Agency has expressed its concern towards the fishing industry, following alarming statistics that indicate that the sector only contributes 12 percent of tax revenue compared to other industries. Currently, the Mining sector contributes 22 percent of tax revenue, with Debmarine amongst the top ten contributors with three billion Namibian Dollars, followed by B2Gold and Namdeb. The three The Fishing sector is regarded as one of Namibia’s largest industries in terms of generated GDP for the country, however, NamRa’s Commissioner Sam Shivute said he is concerned about the manner in which the industry is currently operating…

21 Jul

Sexually active persons urged to combat STIs

info_e12wt4csNational NewsKalumbi Shangula, Sexually active persons urged to combat STIs

Stefanus Nashama The Minister of Health and Social Services, Kalumbi Shangula has urged sexually active persons to make use of condoms and take necessary precautions to protect themselves from Sexually Transmitted Infectious (STIs). According to Shangula, sexually transmitted infections pose a significant public health challenge as proven by available statistics that there has been an upward trend of such infections in the country, despite the commendable progress made by the government in reducing STIs and HIV infections. Shangula made these remarks yesterday at the launch of the third edition of the national guidelines for the management of sexually transmitted infections.…

21 Jul

Power struggles at Karasburg Town Council

info_e12wt4csNational NewsCEO Nico Titus, Power struggles at Karasburg Town Council

Martin Endjala The Karasburg Town Council continues to have back-and-forth push factors, as the Chief Executive Officer saga continues to take centre stage. Staff members are now divided about who’s instructions to follow. The current substantive CEO Nico Titus who returned from his suspension in connection with N$10 million allegedly diverted from the council’s bank accounts into private pockets, was denied entry into the premises on on Monday. The Mayor, Maria Veldskoen insists that they do not recognize him, despite the lapse of his suspension. During Titus’ suspension, Hansina Isaacks was appointed as the acting Chief Executive Officer for the…

21 Jul

Over N$8,5 million donated for small-scale fisheries

info_e12wt4csNational News5 million donated for small-scale fisheries, Derek Klaze, Food and Agriculture Organization (FAO), Over N$8

Stefanus Nashama The Ministry of Fisheries and Marine Resources has been provided with over N$8,5 million by the Food and Agriculture Organization (FAO) to undertake a landscape assessment of small-scale fisheries across the country. According to the Ministry, the N$8,5 million is also meant for the Ministry to undertake stakeholder consultations to obtain inputs to develop the Action Plan. This follows the Ministry’s request for support from the Food and Agriculture Organization to be able to implement the voluntary guidelines on securing sustainable small-scale fisheries, over five years ago. Speaking at the Ministerial Dialogue on small-scale fisheries yesterday in Windhoek,…