Observer Money

Niël Terblanché The Namibian Ports Authority (Namport) has entered into a Memorandum of Understanding (MoU) with Administração dos Portos de Sines e do Algarve, SA (APS), the authority overseeing Portugal's Port of Sines and the Algarve. The chief executive officer of NamPort, Andrew Kanime, in a statement on Wednesday, said this new strategic alliance is set to increase knowledge exchange, capacity building, and operational excellence between the two port authorities. "This partnership leverages the historical and economic ties between Namibia and Portugal to drive connectivity, trade, and investment," he said. According to Kanime, the MoU focuses on the development of…

Niël Terblanché Australian mining company Golden Deeps Ltd informed its investors on the Australian Securities Exchange that it has commenced with a new diamond drilling programme targeting extensions of the Nosib strata bound copper-silver deposit within its Otavi Mountain Land (OML) tenements in northern Namibia. According to the statement, the initiative aims to build upon previous findings and explore the deposit's potential at greater depths and to the west. Earlier drilling efforts at the Nosib deposit identified a zone of copper-vanadium-lead-silver oxide and supergene mineralisation from the surface. This discovery formed the basis of a maiden Mineral Resource for the…

Erasmus Shalihaxwe The Petroleum Training and Education Fund (PETROFUND) is inviting Namibian youth, particularly those from the southern regions, to apply for fully funded scholarships in vocational training fields such as boilermaking, electrical engineering, fitting, and turning. PETROFUND spokesperson Shoki Kandjimi announced on Tuesday that the scholarships are for the 2025 academic year and will be offered at the Namibia Institute of Mining and Technology (NIMT), Keetmanshoop campus.  The initiative aims to equip Namibian youth with the technical skills needed to work in the country’s growing oil and gas industry, particularly following hydrocarbon discoveries in Namibia's Orange Basin between 2022…

Martin Endjala A group of concerned Daure Daman community members from Uis in the Erongo region are demanding to see the president, refusing to engage with what they term “useless ministries.” This comes after the group travelled from Uis on Tuesday to present their grievances to President Nangolo Mbumba at the State House on Wednesday. They were denied an audience with the president. The executive director in the president’s private office, Moses Pakote, wrote a letter dated 23 January, directing attention to the group's request made on 20 January. The letter stated that the president had referred their concerns to…

CHAMWE KAIRA  The country can consume only about 30% of its meat production, making it reliant on both regional and international export markets.  According to the Red Meat Industry Report, prepared by the Bureau for Food and Agricultural Policy (BFAP) and released by Red Meat Industry Services, it was estimated that 2.8 million cattle would have been slaughtered in South Africa in 2024.  The Livestock Producers Organisation (LPO) estimates that Namibia exported around 180 000 live cattle to South Africa in 2024, a year marked by emergency marketing and further herd liquidation.  This represented approximately 6.4% of the cattle slaughtered…

CHAMWE KAIRA  The Deep Yellow team continues to progress key work streams to ensure that its most advanced projects, Tumas and Mulga Rock, remain on schedule with their stated timelines for production. Tumas is one of the most advanced greenfield uranium development projects available and provides an incredible value generation opportunity for the company and its stakeholders.  “The company has a clear outlook from both a project and uranium market standpoint on how to best ensure the right platform is established for long-term success. Following delays in receiving final costing and quotes for detailed engineering work, along with the opportunity…

CHAMWE KAIRA  Curro Holdings, the JSE-listed independent school group, has announced the appointment of Rickert Jacobs as the new executive head of Walvis Bay Gymnasium.  With more than two decades of educational experience, Jacobs previously served as the head of high school at Curro Kathu in South Africa’s Northern Cape province. He says his aim is to ‘influence those in my sphere so that the game changers in our society can multiply’ and that his educational philosophy centres on empowering staff members to do the same.  ‘I’m excited by the new opportunity to grow as a professional and to get…

CHAMWE KAIRA  Bannerman Energy Ltd has appointed Felicity Gooding as a non-executive director, the company has announced.  The company said Gooding is a proven senior finance executive with over 20 years of experience in senior finance and management roles within multinational and ASX-listed organisations, based in both Australia and internationally.  “Her core areas of expertise include strategic and financial analysis, debt funding, corporate finance, mergers and acquisitions and sustainability reporting. She has deep experience across a range of key industry sectors, notably green energy, mining, infrastructure, consumer goods, agriculture and philanthropy,” the company said.  Commenting on Gooding’s appointment, Bannerman executive…

CHAMWE KAIRA  The external debts on the books of Paladin Energy, which owns the Langer Heinrich, are the secured debt facility entered into with Nedbank CIB and Macquarie Bank Limited.  This was contained in the company’s quarterly cash flow report for the period ending 31 December 2024.  The facilities are a US$100 million amortising term loan (term facility) with a 5-year term and a US$50 million revolving credit facility (revolving facility) with a three-year term (with two options to extend by 12 months). CNNC Overseas Limited (CNOL) acquired their interest in Langer Heinrich Uranium (LHU) in 2014 and were assigned…