Observer Money

CHAMWE KAIRA  Deep Yellow, which is developing the Tumas Project in the Erongo Region, says it has established the right platform at the right time, ready to build greenfield projects when the price is right. The company said in a project update that the uranium market backdrop creates exceptional opportunities in the post-Fukushima supply reconstruction era and taking advantage of an assured supply shortage further exacerbates a bifurcated market. The company said it has a strong financial position with Australian dollar (A$) 238.4 million cash to initiate development of Tumas and pursue a growth strategy. The financial investment decision on…

CHAMWE KAIRA  The government wants the Trans-Kalahari Rail Corridor Development Project, a joint project with Botswana, to be implemented as soon as possible.  The Trans-Kalahari Railway project is poised to yield substantial socioeconomic advantages, such as significantly enhancing the rail capacity of Botswana Railways and TransNamib Holdings Limited.  Additionally, it promises to alleviate the strain on regional road infrastructure and reduce the likelihood of accidents involving heavy trucks and smaller vehicles, as freight transportation shifts from road to rail. Minister of Works and Transport, John Mutorwa, told a meeting of officials of the two countries that the governments of Namibia…

CHAMWE KAIRA  Deep Yellow has said legal action against the company by Jurgen Hoffman and Tumas Granit is completely without merit and that the company will take all necessary action to protect its interests, as it has done on all previous occasions. The company is developing the Tumas uranium project in the Erongo Region.  Deep Yellow further clarified that Jurgen Hoffman and Tumas Granite are not Deep Yellow’s partners in Namibia.  Last week it emerged that Hoffman had commenced proceedings against the Minister and Ministry of Mines and Energy to have the mining license declared void.  Deep Yellow in a…

Namibia will become the first country in the world to generate carbon credits under a project by the Nopal Renewable Energy Corporation.  Observer Money asked Nicole Maske, a partner at Nopal Renewable Energy Corporation on how the company will progress with its plans.  The company plans to invest N$1.8 billion in a large-scale nopal cactus farm in Maltahöhe, aiming to establish Namibia as a leader in carbon sequestration through agriculture. Observer Money (OM): How will Nopal Renewable Energy raise N$1.8 billion needed for the next three years needed to invest in the cactus farm at Maltahöhe? Will this money be…

CHAMWE KAIRA  Open-pit mining operations at the Otjikoto Mine are set to conclude in 2025, while processing operations will continue until economically viable stockpiles are exhausted in 2032. B2Gold, which holds a 90% interest in the mine, disclosed in its financial results that underground operations under the current mine plan are projected to continue into 2027.  There is potential to extend underground operations if ongoing exploration identifies additional mineral deposits. Located between Otavi and Otjiwarongo, the Otjikoto Mine had a strong performance in 2024, producing 198,142 ounces of gold. This figure is near the midpoint of its guidance range of…

Ester Mbathera  Pick 'n Pay was the most affordable supermarket in Namibia for February. A monthly research report on the prices of products showed that the price wars between the supermarkets normalised in the second month of 2025.  The report was compiled by the administrator of the Namibian Investor Group on Facebook, Robin Tyson and researcher Jeraldo Amporo.  “This was due to their reasonable prices across the board, with rice (N$52) and toilet paper (N$77) as stand out offers. The total basket was N$436,” the report said.  The most expensive supermarket was Checkers with a total basket of N$458.  “[This…

The Namibia Revenue Agency (NamRA) on Tuesday hosted a virtual Awareness Session on the enforcement of Sections 110 and 124 of the Customs and Excise Act, 1998 (Act No. 20 of 1998).  The session, attended by more than 130 clearing agents and traders, addressed revenue leakages, looking at ways to ensure that all duties owed to the State are duly paid. Section 124 of the Act stipulates that any customs duty payable, interest, fines, penalties or forfeitures incurred constitute a debt to the State.  It further provides that any goods imported, exported or in a customs and excise warehouse belonging…

Allexer Namundjembo  The Mine Workers Union (MUN) has reached an agreement with the majority shareholders of the Kombat Mine, Trigon Metals concerning the retrenchment of 533 employees.  The general secretary of the MUN, George Ampweya, confirmed that the matter that has been brewing since last year has been resolved. “The agreement outlines key terms, with an emphasis on supporting employees through equitable compensation. Every retrenched employee will receive one month of notice pay, along with severance pay equivalent to one week's salary for each year of service. Employees will further be paid for any confirmed accrued leave days up to…