Namibia Mining News

Diamond dividends add sparkle to state coffers

THE Namibia Diamond Trading Company (NDTC) has paid dividends of N$40 million to Government, bringing the total amount of state dividends this year to N$100 million. To date, the NDTC has pumped N$310 million worth of dividends into state coffers, the...

Pitchstone options Dome uranium property to Rio Tinto

- $5 million expenditure to earn initial 49% interest in Dome- Rio Tinto has identified multiple high priority targets at Dome

Deep Yellow announces high grade uranium intercepts at its Namibian projects

Deep Yellow, a uranium exploration company with operations in Namibia and in Australia, announced on Tuesday additional high grade uranium intercepts from RC drilling at the Ongolo Alaskite Deposit and the MS7 Prospect.

Half of Rio's Rossing Namibia workers strike -union

Around half of Rio Tinto's Rossing Uranium workers are taking part in a strike that is hitting production at its mine in Namibia, the union involved said on Saturday, also countering company claims that some of the mine was still working.

Striking uranium workers 'defeat logic'

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 union, Rossing meet in bid to avoid strike

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

Namibia: diamond company supports Orphan Trust

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

Rössing will not agree to MUNs demands

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

Paladin Energy Ltd.- Langer Heinrich Mine, Namibia US$141M project finance facility drawdown

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.

Auryx Gold Corp discovers massive iron oxides at the Otjikoto Gold project, Namibia

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:

Yellowcake could fall into rogue hands

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

Uranium was stolen from Trekkopje

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.

Husabs mine life up to 20 years

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.

Areva says stolen Namibian uranium from its mine

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

Uranium projects in Australia, Namibia, Kazakhstan and US celebrate progress

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 reports first RC drill results from the Gold Kop Target, Damara Gold Project, Namibia

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.

Paladin secures US uranium contracts for 'low to mid-$60s'

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 ( has announced the addition of Frost & Sullivan's new report "Production and Investment Forecasts in the Namibian Mining Industry" to their offering. This research

Namibia abandons draconian mine tax plans

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 acquires option over Namibian copper-silver properties, announces private placement

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").

Mining industry gives Saara tax ultimatum

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

Reserves grow at Husab

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.

Big concern over Namibia's mining tax plans

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

Uranium set to overtake diamonds as Namibia's largest foreign currency earner

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 chamber warns over new tax

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.