The Ministry of Mines and Energy on Wednesday announced that 15% of applications submitted by Namibian license holders for the transfer of minerals must be retained by Namibians. In a media statement, the ministry said, under Section 47 (2) (a) of the Minerals Protection and Mining Act No. 3 of 1992, the cession or assignment of interest in a mineral license may be granted subject to the condition that 15% in the license is retained by Namibians as from 1 April 2021. This amendment will prohibit license holders to transfer or sell 100% of their license. The ministry’s public relations officer, Andreas Simon, told NAMPA in an interview that the 15% amendment is a deliberate effort from Government to promote local ownership in the mineral sector. He added saying that currently license holders or applicants after these licenses are awarded to them, would sell them or sell shares to international companies or transfer total ownership to foreign individuals or companies, noting that this becomes a problem because it defies the government’s plans for local ownership and local participation in the sector. “The law is a little silent on the Minerals Protection and Mining Act, therefore as Government, we then said for us to encourage local participation, let us make it mandatory that once we issue a license to an individual, you as a holder if you are to give over or to transfer shares of such mineral rights you must at least retain 15% shares,” said Simon. -NAMPA