Namibia aims to earn $1.6b from mining

  1. Posted on Tuesday 21 September 2010 - 12:30
    Tirie Masawi
    Tirivangani Masawi, AfricaNews reporter in Windhoek, Namibia
    The Namibian government has set its sights on netting N$12billion approximately US$ 1.5b from the mining sector by 2014 following a boost in production brought about by the uranium rush in the Erongo region of the country.
    namibia map
    The ambitious plan is also driven by favourable uranium prices on the global market.

    The Namibian Minister of Mines and Energy Isak Katali confirmed the move at a mining symposium hosted in Windhoek this week.

    He also called for cementing of relations with their former colonial masters Germany following an official visit by the president of the Federal Institute for Geosciences and Natural Resources, Hans-Joachim Kumpel at the same occasion.

    Katali applauded the Germany government for continued support in infrastructure development in the mining sector and crafting comprehensive policies in keeping the country’s mining industry afloat.

    “The relationship between two country’s date back to the days of the liberation struggle and it continues to grow by the day. We have seen most of our young Namibians benefiting in skills development from our Germany counterparts,” said Katali.

    The Mines and Energy Minister added that the country will need to work in partnership with the European powerhouse to create a better passageway for investment in Namibia.

    Katali added that Namibia needed a lot of support from other countries in managing the Uranium rush which has erupted in Namibia for the past few months prompting multinational mining companies to jump on the available resources.

    He added that the relationship between Namibia and Germany has seen the country’s mining industry benefitting immensely in developing qualified personnel.

    “The Germany government has been a partner in our development and it continues to serve as a strategic partner in future products,” he said.

    Namibia is aiming to produce about N$ 12 billion (approximately US $1, 6 billion) dollars from the mining sector annually.

    This follows the influx of multinational companies to the country looking to invest in the Uranium rush in the Erongo region of Namibia.

    The boost in revenue from the mining sector has also been upped by favourable commodity prices on the world market.

    Meanwhile Kumpel is expected to spend a week in the country and will visit the country’s Minister of Education on a debriefing meeting on the development of a uranium rush in Namibia.

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