{"id":424039,"date":"2011-05-14T13:10:57","date_gmt":"2011-05-14T13:10:57","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/14\/namibia-second-mining-expo-to-be-held-amid-fears-of-nationalisation\/"},"modified":"2011-05-14T13:10:57","modified_gmt":"2011-05-14T13:10:57","slug":"namibia-second-mining-expo-to-be-held-amid-fears-of-nationalisation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/14\/namibia-second-mining-expo-to-be-held-amid-fears-of-nationalisation\/","title":{"rendered":"Namibia: Second Mining Expo to Be Held Amid Fears of ‘Nationalisation’"},"content":{"rendered":"
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\"Namibia<\/a><\/p>\n

Nyasha Francis Nyaungwa<\/p>\n

13 May 2011<\/p>\n

\n

The 2011 Mining Expo which kicks off next week in the capital is being held at a time when the mining sector faces uncertainty after government recently declared uranium, copper, coal, diamonds and rare earth metals as strategic minerals.<\/p>\n

Last month, government through cabinet endorsed a decision that the right to own licenses for strategic minerals will only be issued to a state company.<\/p>\n

The dramatic shift in policy has caught many investors and would-be investors unaware given Mines and Energy Minister, Isak Katali’s announcement last year that government, through Epangelo, would only hold minority stakes in ventures that the government considered strategic. In his speech read at the first mining expo last year, Katali said: “Establishing Epangelo to take stakes in key mining companies is not necessarily a bad idea provided government is prepared to pay for its equity. This would allow government access to more information and help ensure mining companies play by the rules. But we are not talking about majority stakes here – maybe 5-10% shareholdings.<\/p>\n

“Instead of TESEF (Transformation and Empowerment Socio-economic Framework) targets, Epangelo, representing the national interest and not the interests of a few well connected individuals, should take minority stakes in companies government considers strategic using tax revenue (or future tax revenues) from the industry.<\/p>\n

“Epangelo should not be about HOGGING all the EPLs issued by government and blocking progress on developing projects,” Katali said at the time.<\/p>\n

But in a stunning about turn, Katali announced in parliament late last month that, Epangelo would have exclusive exploration rights on all strategic minerals in the country, a statement that caught the market by surprise.<\/p>\n

The Mines and Energy minister this week defended the new government policy by saying, contrary to perception, the public-private partnership in the mining sector seeks to enhance a win-win partnership in the sector.<\/p>\n

He said the partnership aims at a shared growth in the mining sector as well as shared risk in exploration, mine development and mining business making the government and the people of Namibian meaningful participants in the mining business rather than rent-seekers.<\/p>\n

“The win-win public-private partnership shall create security, stability and predictability in mining business. All genuine investors should embrace it.<\/p>\n

“….the mining sector’s contribution to government revenue is not commensurate with its share to the gross domestic product. Such contribution is mainly through royalties levied on the market value of the minerals. This means that Namibia benefits from its natural endowment mainly through rent-seeking. This situation is untenable” the minister said.<\/p>\n

Meanwhile, the 2011 Mining Expo will be held under the theme “Opportunities for Growth in Mining.”<\/p>\n

Organisers of the expo say the purpose of the exhibition is again to showcase the Namibian mining industry and the developments in this important sector to various stakeholders.<\/p>\n

“The exhibition will give visitors and participants the opportunity to discuss industry contributions to the Namibian economy and society, to share experiences amongst mining leaders and meet industry experts,” the Chamber of Mines said in a recent statement.<\/p>\n

Last year’s expo which has been described as a “phenomenal success” attracted 83 participating companies who occupied 102 stands while 1000 people visited the stands.<\/p>\n

This year’s expo has over 102 confirmed exhibitors occupying 129 stands. Exhibitors that have confirmed their participation include all bigger mining and exploration companies and suppliers as well as educational and training institutions.<\/p>\n

The chamber said on top of the confirmed exhibitors it had had requests from companies as far as the UK, Australia, France and Congo who all want to send delegates to the expo.<\/p>\n

The highlight for this year’s expo is a two-day conference on various mining -related issues. The mining expo and conference is open to the general public and entry is free. It will be opened by the Minister of Mines and Energy, Isak Katali.<\/p>\n

<\/p>\n

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Nyasha Francis Nyaungwa 13 May 2011 The 2011 Mining Expo which kicks off next week in the capital is being held at a time when the mining sector faces uncertainty after government recently declared uranium, copper, coal, diamonds and rare earth metals as strategic minerals. Last month, government through cabinet endorsed a decision that the right to own licenses for strategic minerals will only be issued to a state company. The dramatic shift in policy has caught many investors and would-be investors unaware given Mines and Energy Minister, Isak Katali’s announcement last year that government, through Epangelo, would only hold minority stakes in ventures that the government considered strategic<\/p>\n","protected":false},"author":0,"featured_media":407174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-424039","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"yoast_head":"\nNamibia: Second Mining Expo to Be Held Amid Fears of 'Nationalisation' - 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\/05\/14\/namibia-second-mining-expo-to-be-held-amid-fears-of-nationalisation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Namibia: Second Mining Expo to Be Held Amid Fears of 'Nationalisation' - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Nyasha Francis Nyaungwa 13 May 2011 The 2011 Mining Expo which kicks off next week in the capital is being held at a time when the mining sector faces uncertainty after government recently declared uranium, copper, coal, diamonds and rare earth metals as strategic minerals. 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