Industry News by Nemesis

Namibia’s Revised Mining Act to be Completed by End of 2018

May 1, 2018

 

Namibia aims to complete revisions to its mining act by the end of 2018, according to Mines Minister Tom Alweendo.

 

The revisions being considered include policies on environmental and social responsibility and ensuring the “legislation is sufficiently attractive to inspire new investment,” Alweendo said, according to a Reuters report.

 

The country’s mining sector is currently governed for the most part by the Minerals (Prospecting and Mining) Act of 1992, which is under review, and the Diamond Act of 1999.

 

Earlier this month President Hage Geingob scrapped a clause that proposed all businesses be at least a quarter owned by “racially disadvantaged people.”

 

Source: Idex

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