{"id":386866,"date":"2011-04-21T07:11:28","date_gmt":"2011-04-21T07:11:28","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/21\/govt-pockets-all-rights-to-mine-uranium\/"},"modified":"2011-04-21T07:11:28","modified_gmt":"2011-04-21T07:11:28","slug":"govt-pockets-all-rights-to-mine-uranium","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/21\/govt-pockets-all-rights-to-mine-uranium\/","title":{"rendered":"Govt Pockets All Rights to Mine Uranium"},"content":{"rendered":"
\n
\n
\n

\"The<\/a><\/p>\n

Jo-Mare Duddy<\/p>\n

21 April 2011<\/p>\n

\n

Cabinet has declared uranium, copper, gold, zinc and coal as strategic minerals to allow the State-owned Epangelo Mining Company “exclusive exploration and mining” rights, Mines and Energy Minister Isak Katali told Parliament yesterday.<\/p>\n

Katali said Cabinet recently approved a submission in this regard “so that the Namibian citizen can fully reap the benefits arising from the rich endowment of our mineral resources”.<\/p>\n

Mining last year contributed about 15 per cent to the country’s gross domestic product and its export earnings were more than half Namibia’s total export revenue. Namibia recently retained its position as the fourth biggest uranium producer in the world.<\/p>\n

Katali said his Ministry’s priority this year will be to finalise the Minerals Bill and minerals policy to allow Epangelo “to fully participate in the exploration and mineral development” in the country.<\/p>\n

The 2011-12 Budget has allocated N$5 million to the company.<\/p>\n

Katali also said Government is fully aware that black economic empowerment (BEE) is abused by some to make “phenomenal amounts” of money.<\/p>\n

He said some BEE companies are “fronting”, a practice where foreign companies use local empowerment companies to clinch deals. The Minister said he also knows of BEE licensees “selling out” exploration licences as soon as they are granted them.<\/p>\n

Furthermore, Katali said the Ministry is mindful of transactions of mineral resources involving “phenomenal amounts being concluded outside the borders of Namibia, without ministerial approval, which only benefits a few with no tangible financial benefits accruing to the state revenue coffers”.<\/p>\n

The Ministry has consulted with those involved in the sector, as well as with the Chamber of Mines and as a result, will design policies to ensure that Government doesn’t lose out in future, Katali said.<\/p>\n

The Minister also told Parliament that as soon as Government’s Transformational Economic and Social Empowerment Framework (Tesef) is finalised, BEE charters for the electricity, petroleum and mining sectors will be implemented to ensure that previously disadvantaged Namibians benefit.<\/p>\n

“I am happy to announce that the mining charter is at an advanced stage of completion and will be gazetted as soon as all the steps are conducted,” he said.<\/p>\n

<\/p>\n

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\nGovt Pockets All Rights to Mine Uranium<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Jo-Mare Duddy 21 April 2011 Cabinet has declared uranium, copper, gold, zinc and coal as strategic minerals to allow the State-owned Epangelo Mining Company “exclusive exploration and mining” rights, Mines and Energy Minister Isak Katali told Parliament yesterday. Katali said Cabinet recently approved a submission in this regard “so that the Namibian citizen can fully reap the benefits arising from the rich endowment of our mineral resources”. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386866","post","type-post","status-publish","format-standard"],"yoast_head":"\nGovt Pockets All Rights to Mine Uranium - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/21\/govt-pockets-all-rights-to-mine-uranium\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Govt Pockets All Rights to Mine Uranium - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Jo-Mare Duddy 21 April 2011 Cabinet has declared uranium, copper, gold, zinc and coal as strategic minerals to allow the State-owned Epangelo Mining Company "exclusive exploration and mining" rights, Mines and Energy Minister Isak Katali told Parliament yesterday. 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