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").
Namibia Mining News
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.
Namibia plans to raise its mining tax to 44 percent from 37.5 percent but said the hike will not apply to diamond mining companies, the ministry of finance said in a statement on Friday. The ministry said the country is facing volatility in its key revenue sources and is looking to strengthen revenue collection.
Paladin Energy, the ASX- and TSX-quoted uranium miner, said on Wednesday that production for the year ended June rose 32% to 5.7-million pounds, but was lower than expected because of heavy rainfall at its Namibian mine and “mechanical issues” at the Kayelekera operation in Malawi.
International uranium company Marenica Energy (ASX: MEY) is pleased to provide an update on ongoing resource in-fill and exploration drilling programs at its flagship 75%-owned Marenica Uranium Project located in Namibia, southern Africa. Drilling was
China's Sichuan Hanlong Group made a bid to buy out the shares it doesn't already own in West African iron ore exploration company Sundance Resources, valuing the private conglomerate at A$1.4 billion ($1.5 billion). Last week, Hanlong, which is seeking to expand its reach in global resources, launched a A$144 million takeover bid for Bannerman Resources, which is looking for uranium in Namibia.
WINDHOEK - Workers at Rio Tinto Ltd's Rossing uranium mine in Namibia have returned to work after a three-day illegal strike, the company said, while talks to resolve the wage dispute are set to resume. "The strike is over and the workers are back at
It also said in a statement that the strike was illegal and it was hoping to bring in measures to allow workers who wanted to return to their jobs to do so. "The situation has not normalized despite the undertaking that was made ... between the company
The Namibian reports 500 workers at Rio Tinto's Rossing uranium mine in Namibia downed tools on Tuesday in a dispute over production incentives. The news comes in the wake of a senior Rio Tinto executive telling Dow Jones on Monday that the mine – which accounts for over 5% of world production of uranium oxide – is losing money at the current price of under $55 per pound of U3O8. Rossing which lies partly inside the Namib-Naukluft Park (pictured) has produced uranium since 1976. Rio Tinto owns 70% while the Iranian government with 15% is the second largest shareholder.
Namibia's diamond in the first five months of 2011 totaled 528,333 carats, declining 8.9% compared to last year, according to Ministry of Mines and Energy figures released by broking firm IJG on Friday and quoted by Reuters.
Horsehead Holding Corp is to proceed with plans to construct a new lower-cost, environmentally-friendly zinc production facility. The new facility will replace its older smelter technology and will significantly reduce emissions of greenhouse gases and particulates into the atmosphere. The plant will utilize the ZINCEXTM SX technology.
Helio Resource Corp. on Monday reported the first diamond drill results from the current drill programme at the Gold Kop Target, on its 100%-owned Damara Gold Project in Namibia. The Gold Kop Target is situated 45km northeast of AngloGold Ashanti's Navachab gold mine. On Monday, Helio which also owns gold projects in Tanzania was trading up almost 5% on the TSX Venture Exchange on the news. The tightly-held company is worth some $44m with 104m shares outstanding.
Helio makes a significant new gold-copper-silver discovery at the Gold Kop target, Damara gold project, Namibia
Helio Resource Corp. (TSX-V: HRC) is very pleased to report the first diamond drill results from the current drill programme at the Gold Kop Target, on its 100%-owned Damara Gold Project (DGP) in Namibia. The Gold Kop Target is situated 45km northeast of AngloGold Ashanti's (AGA) Navachab gold mine (see map at http://www.helioresource.com/i/pdf/2011-06-13_NRM1.pdf).
Construction activities have reached peak intensity on the 34-month Maxi Heap Leach Pad project for French nuclear company AREVA at its Trekkopje uranium mine in Namibia, which will feature in IM’s July issue. The Trekkopje JV, comprising Concor Roads & Earthworks as lead partner, together with Grinaker-LTA and Basil Read, reports that it has been consistently achieving its present productivity targets on what is a complicated project that requires precision planning and programme scheduling.
Mitchell Adam, President and CEO of Pan Terra Industries announcedit has entered into a Letter of Intent (the "LOI") to acquire 90% of the issued and outstanding common shares of Mertens Mining and Trading (PTY) Limited ("Mertens"), a private company incorporated under the laws of Namibia, Africa. Pursuant to the terms and conditions of the LOI, Pan Terra will acquire 90% of the issued and outstanding shares of Mertens for total consideration of $6,617,647 CDN
Reuters Africa reports Exxaro (JNB:EXX) has invited bids for the company’s stake in a zinc and lead mine in Namibia. The market news is quoted as saying: The assets up for sale include Exxaro’s 50.04 percent stake in the Rosh Pinah mine and its wholly owned Zincor refinery.
Mitchell Adam, President and CEO of Vancouver-based Pan Terra Industries announced on Thursday it has entered into a deal to acquire 80% of Namibia’s Congo Namibia Trading, a private gold and copper exploration company. Under Thursday's letter of intent, TSX-Venture listed Pan Terra will pay C$300,000 in cash and issue 3m shares as well as 3m share purchase warrants priced at C$0.73. Congo Namibia Trading holds 100% interest in five exclusive prospecting licenses in the Tsumeb Copper Belt in Namibia as well the rights to acquire 51% stake in an Angolan and a Zimbabwean gold joint venture.