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Ministry of Mines and Energy focuses on accelerating mineral discoveries

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The Ministry of Mines and Energy has vowed to continue conducting due diligence on the applications for new exclusive prospecting licenses (EPLs) and the mining work programme.

Minister Tom Alweendo says this process would ensure that actual exploration takes place and avoid delays in the discovery of minerals.

Currently, the Minerals Act requires EPL holders to possess proven knowledge and money to be able to carry out exploration.

EPL holders are further required to submit a detailed three-year work programme with their applications.

Government lobbies private sector for mining investment

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The Namibian government will continue to lobby the private sector for investment in the mining sector.

The Minister of Mines and Energy, Tom Alweendo, says this is because of the risk factors involved and the capital required.

Addressing the two-day Mining Expo and Conference in Windhoek, Alweendo said mine exploration alone costs hundreds of millions of dollars, something the state cannot afford.

And exploration alone does not guarantee any return on investment.