A strike appears imminent at Rio Tinto's Rssing Uranium Mine in the Namibian-Naukluft Park (pictured) after workers unhappy over production bonuses on Wednesday voted unanimously in favour of industrial action that could cripple operations at the mine responsible for some 5% of world production. Management said the demands were unreasonable and defeat logic. The industrial action takes place at a difficult time for the uranium industry with the spot price recently falling below $50 – levels last seen immediately after the nuclear accident at Fukushima. The sector has lost some 40% of its value since the Japan disaster and the first deal of what is expected to be widespread consolidation in the industry is already shaping up to be a classic David and Goliath fight.
Namibia Mining News
WINDHOEK, Sept 20 (Reuters) - Management at Rio Tinto (Berlin: CRA1.BE - news) 's Rossing Uranium mine in Namibia will meet with unions on Tuesday in a bid to avoid a strike over production incentives that could hurt output at one of the world's largest
Gemxcel Diamonds, has been donating N$7000 per month to the Christina Swart-Opperman Aids Orphan Foundation Trust since August. The money enables the trust to continue with its projects, according to Dr Christina Swart-Opperman. Some of the funds will be
While Rio Tinto’s Rössing Uranium Limited is committed to solving the dispute over employee bonus payments with the Mineworkers Union of Namibia (MUN), it would not agree to the union’s “unreasonable demands”, said the company’s Managing
PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 12, 2011) - Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN) (ASX:PDN)wishes to note that the Company's Board of Directors advise that financial close has been reached under the Langer Heinrich Project Finance Facility ("Facility"), and Paladin has submitted a drawdown notice for US$127.2M.
TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Auryx Gold Corp. ("Auryx" or the "Company") (TSX:AYX)(NSX:AYX) is pleased to announce the discovery of two distinct zones of massive iron-oxides ("Fe-oxides") overlying and peripheral to the Otjikoto gold deposit. Both zones occur at and near surface and have been named the Main Magnetite Zone ("MMZ") and the Magnetite 1 Zone ("M1Z"). Geophysical work suggests the Fe-oxide mineralization has a potential strike length of 6km. Please follow the link to view a plan view of the magnetic anomaly:http://auryxgold.com/projects/otjikoto_drill_program/mag_anomalies/
The US government is worried that Namibia doesn't have enough safeguards to prevent rogue companies from getting their hands on nuclear material sourced locally. After a meeting with Trade and Industry
Areva Resources Namibia, a subsidiary of a French giant mining company confirmed on Friday the uranium ore stolen on August 25. allegedly by four men - three Namibians and a Zimbabwean - originated from its Trekkoppje mine situated 80 kilometres north of Swakopmund. The four suspects were arrested and appeared in court after radioactive material was found in their possession.
The Australian owners of the fourth largest primary uranium deposit in the world - Husab in Namibia - have said project development financing negotiations are progressing well and in line with expectations of further project upside from a newly launched Mine Optimisation and Resource Extension (More) program across the project.
WINDHOEK – Four drums of radioactive material stolen last week in Namibia contained uranium ore and came from Areva's Trekkopje Mine in the country, the French company said on Friday. Four suspects have been arrested and the stolen material has been
Full financial support has been finalised for an extension at a Namibian uranium mine, while Australian and US projects have reached more regulatory milestones, and a production increase is planned in Kazakhstan.
Helio Resource Corp (TSX-V: HRC) is pleased to report the first results from a recently completed RC drill program on the Gold Kop target, at the Damara Gold Project in central Namibia.
Australia's Paladin Energy has signed three new uranium sale agreements with US customers for output from the stage 3 expansion of the Langer Heinrich mine in the Namib desert (pictured).
Production and investment forecasts in the Namibian mining industry: uranium set to overtake diamonds as Namibia's largest foreign currency earner
Research and Markets (http://www.researchandmarkets.com/research/5cb789/production_and_inv) has announced the addition of Frost & Sullivan's new report "Production and Investment Forecasts in the Namibian Mining Industry" to their offering. This research
A day after news of an onerous new mining royalty and taxation regime in Peru, Namibia, the world’s biggest miner of offshore diamonds and a top four uranium producer, drops plans for a huge jump in the corporate tax rate for miners and mineral export levies. Deputy Finance Minister Calle Schlettwein said on Wednesday, the country has withdrawn a proposal to increase the tax on non-diamond miners to 44% from 37.5% and will instead propose a windfall tax when international prices for the commodities are high. Namibia was one of 25 countries around the world that recently announced their intentions to increase their take of the mining industry’s profits or impose ownership and other restrictions.
Midnight Sun Mining announced that it has entered into an agreement dated July 28, 2011 (the "Agreement") with Logwood Investments Inc., a closely held Namibian Corporation at arms length to the Company (the "Optionor"), whereby the Company has acquired the option (the "Option") to earn a 60% interest in certain mineral properties in Namibia (the "Properties").
Saara Kuugongelwa- Amadhila THE mining industry has given Finance Minister Saara Kuugongelwa-Amadhila until Wednesday to reconsider her intended tax reforms before they alert investors worldwide to “the most devastating elements” of her “proposed
Estimated uranium reserves at the Husab uranium project in Namibia have increased by 37%, ensuring an operating life of over 20 years for Extract Resources Ltd's planned mine, the company has announced.
THE Namibian governments proposals for additional taxes on mining could shake the foundations of the countrys industry, according to industry players in the southern African state. One of the proposed amendments to tax legislation announced by the
According to a new report by Research & Markets high uranium prices, paralleled by growing global demand for energy, will result in Namibia doubling its uranium production to approximately 12,000 tonnes by 2015 from the 5,300 tonnes the country produced in 2009. Namibia's extensive uranium deposits, coupled with the expansion of existing mines, will result in the country's uranium production increasing sharply in the short to medium term.
Namibia's Chamber of Mines wants the government to reconsider plans to impose a further 17% tax on exploration and mining firms in the southern African producer of diamonds and uranium, saying it would discourage investors.
Namibia's Chamber of Mines wants the government to reconsider plans to impose a further 17 percent tax on exploration and mining firms in the southern African producer of diamonds and uranium, saying it would discourage investors.
Nambia?s ministry of finance said that Nambia plans to raise its mining tax by 17% to boost revenue, but the hike will not apply to the diamond sector. As per report the ministry of finance wants the mining tax to be raised to 44% from 37.5%.
Namibia's Ministry of Environment and Tourism has granted environmental approval for the linear infrastructure for the proposed Husab uranium project to Extract Resources subsidiary Swakop Uranium. The approval, covering access roads, electricity, telecommunications and water supply, is the final environmental approval needed for the project. The project mining area received environmental approval in January. Extract is now waiting to receive a mining licence from the Ministry of Mines, according to managing director Jonathan Leslie.
HYTEC Cape Town has recently been awarded a large contract by De Beers Marine Namibia for the refurbishment of the mining system hydraulics on one of the mining giant’s offshore mining vessels.