The Minister of Mines and Energy, Tom Alweendo, says there is a need to create an environment where Namibians can have local ownership of investment in the mining and petroleum sectors.
Alweendo was speaking at the Debmarine Stakeholder Breakfast Meeting in Windhoek today.
He explained that in order for Namibians to benefit economically from these sectors, it is necessary to first determine where the resources are located (exploration).
He describes it as a phase that necessitates significant funding or investment in terms of exploration skills and infrastructure.
However, Alweendo was quick to add that not having money or expertise to carry out this phase should not stop Namibians from taking local ownership in the sectors.
The CEO of Debmarine, Willy Mertens, revealed that last year was undoubtedly marked by the delivery of the Benguela Gem two months ahead of schedule and N$1.1 billion below budget.
The Gem recovered 480,000 carats of diamonds in 2022, compared to a budget of 281,000 carats.
Mertens also vowed that the company will ensure employee safety at all times following three injuries in 2022.