Windhoek Observer

Chamwe Kaira Andrada Mining Limited has cleared the main conditions required to unlock the first US dollar investment under its earn-in agreement with BWCAM Limited for the development of the Brandberg West project in Namibia. The company said the conditions were met following its announcement on 21 January 2026, triggering the first stage of the staged earn-in partnership. BWCAM is an affiliate of ACAM LP. As a result, Andrada expects to receive about N$160 million, equivalent to around US$10 million, in the coming days to fund the initial development of Brandberg West.  Once the funds are received, BWCAM will hold…

Chamwe Kaira Celsius Resources Limited was required this week to request a halt in the trading of its securities on the Australian Securities Exchange after discovering errors in certain cleansing notices issued by the company. The company said the notices incorrectly stated that it was compliant with Chapter 2M of Australia’s Corporations Act 2001.  The non-compliance relates to an administrative oversight linked to the resignation of a previous auditor in 2011, when the company was still known as View Resources Limited. Celsius Resources holds a 95% interest in the Opuwo Cobalt Project in northern Namibia.  The project is described by…

Staff Writer South Africa has formally acceded to the Establishment Agreement of the African Export-Import Bank, marking its official entry into the Bank’s membership. The move follows the South African Parliament’s approval of the accession in 2025 and confirms a strategic partnership between the country and Afreximbank.  South Africa becomes the 54th state to join the bank, strengthening cooperation aimed at expanding trade and investment across the continent. To activate the partnership, Afreximbank will roll out major financial support in South Africa.  This includes a new US$8 billion country programme aimed at supporting economic growth. The programme focuses on industrial…

Staff Writer Namcor, in partnership with SBM Offshore and the Namibia Youth Energy Forum, hosted an FPSO masterclass at the Namcor Auditorium on Tuesday. The session was facilitated by Thomas Lorin, FPSO Framing Manager at SBM Offshore. It focused on Floating Production, Storage and Offloading units, a key part of offshore oil and gas development.  The masterclass covered FPSO design, construction and operations and offered practical insight for industry professionals and young Namibians interested in the energy sector. More than 110 people attended the event, including Namcor staff and members of the youth community. SBM Offshore country manager Matthieu Jeannin…

Staff Writer Glencore plc has entered into a non-binding memorandum of understanding with the US-backed Orion Critical Mineral Consortium for the possible sale of a 40% stake in its Democratic Republic of Congo (DRC) mining assets. The agreement covers Mutanda Mining and Kamoto Copper Company, both located in the Democratic Republic of Congo.  The proposed transaction is expected to value the two assets at a combined enterprise value of about US$9 billion. Under the terms of the agreement, Orion CMC would acquire a minority strategic stake, while Glencore would retain operational control.  Mutanda Mining and Kamoto Copper Company would continue…

Staff Reporter The Foschini Group Limited has reported modest sales growth for the third quarter of its 2026 financial year, as tough consumer conditions in South Africa continued to limit discretionary spending. In a trading update covering the nine months from 1 April 2025 to 27 December 2025, including the 13 weeks to 27 December 2025, the Group said trading conditions remained difficult despite easing inflation and recent interest rate cuts.  The company noted that the third quarter of the prior year benefited from the introduction of South Africa’s two-pot retirement system, which supported consumer spending at the time. Sales…

Staff Writer Southern Sun Limited has announced a proposed transaction to acquire a 50% undivided share in a portfolio of hospitality and leisure properties in Sandton that it currently operates under long-term lease and management agreements. The assets, known as the Sandton Consortium Properties, include Sandton Towers, Garden Court, Sandton City, the Sandton Convention Center and Virgin Active Sandton.  The properties are located on Erf 596, Sandown Extension 38, in Gauteng. Virgin Active Sandton is leased to the Virgin Active Group.  The Sandton Sun hotel is not part of the transaction and will remain under its current ownership, with Southern…