As Namibia positions itself to be a major oil and gas producer, Mines and Energy Minister Tom Alweendo is encouraging investments to mutually benefit both Namibians and investors.

Addressing the Namibia International Energy Conference in Windhoek, Alweendo expressed confidence in Namibia's potential investment returns.

Namibia is evaluating the commercial viability of oil and gas discoveries that could transform Namibia's economy through its energy revolution.

The Minister of Mines and Energy, Tom Alweendo, is concerned about the G7 nations' proposal to ban the sale of Russian diamonds.

This, Alweendo says, could have implications for African diamond-producing countries, including Namibia.

Earlier this year, the G7 announced consideration to restrict the sale of non-industrial diamonds mined, processed, or produced in Russia by January 1, 2024, followed further by phase restrictions on the import of Russian diamonds processed in third countries by March 1, 2024.

Chinese company Xinfeng Investments succeeded in its urgent application to the High Court that Mines and Energy Minister Tom Alweendo stop revoking its lithium mining licence.

The Windhoek High Court this morning (Tuesday) interdicted the Mines and Energy Minister, Tom Alweendo, to revoke Xinfeng Investments' lithium mining licence.

Alweendo alleged that Xinfeng, in its application for the licence, provided fraudulent information among others to acquire the licence.

A significant contributing factor to the lack of rehabilitation of closed mining sites in Namibia is a weakness in the mining and environmental legislation.

To address this issue, the ministries of Mines and Energy, as well as Environment, are taking steps to amend the existing laws that would require mining companies to include closure plans as part of their licence application process.

The Chairperson of the Parliamentary Standing Committee on Natural Resources, Tjekero Tweya, is of the view that if the existing laws passed in parliament are deemed inadequate, it is necessary to enhance and strengthen them.

Tweya also emphasised the importance of engaging in a comprehensive, honest, and constructive dialogue about the management of natural resources in Namibia.

Tweya made these remarks during the opening of a six-day workshop focusing on the mining and energy sectors.