Bannerman Mining Resources (Namibia) (Pty) Ltd has identified the heap leaching process as the best method to extract uranium from its highly-anticipated Etango Uranium project. What remains a concern for the Australian mining giant is to raise the initial capital injection of about US$350 million to develop the promising Etango project that has the potential...
The Bank of Namibia (BoN) has refuted a statement from Trustco Group Holdings (TGH), the parent company of Trustco Bank Namibia (TBN), that depositors’ funds are guaranteed and held by it. This is after TGH on Friday announced its decision to exit the investment in its commercial banking portfolio, which the group stated accounts for...
The Namibian Competition Commission (NaCC) has approved the proposed merger between Hong Kong-based Sinomine Rare Metals Resources Co. Limited and Dundee Precious Metals (DPM) Tsumeb Holding (Pty) Limited, with conditions. Sinomine Resource Group recently concluded deals to purchase controlling interests in a copper mine in Zambia, and earlier this year purchased Dundee’s copper smelter in...
The skyline in Windhoek’s central business district (CBD) is set for a major makeover, as construction has officially commenced on the Capricorn Group’s new 13-storey landmark building. The groundbreaking ceremony on the corner of Independence Avenue and Kasino Street took place on Tuesday morning in what the group called a “historic milestone” for what will...
First National Bank (FNB) Namibia’s Commercial Enterprise banking segment, which caters to medium corporate clients with turnovers from N$60 million to N$800 million, is integral in enabling local businesses. This is true for a range of industries in which the segment specialises – from tourism and agriculture – to construction, logistics and energy head of...
Small and Medium Enterprises hold the key to Namibia’s economic growth. The sector does this by addressing unemployment, significantly contributing to the gross domestic product. More importantly, it sustains the livelihoods of many Namibians. Government has emphasised that it is crucial to recognise the crucial role SMEs play. Recent research indicates that SMEs provide employment...
Construction work has resumed at the Woermann Brock (WB) supermarket in Hochland Park, where activities were stopped late on Wednesday due to unsafe working conditions. A WB official yesterday told New Era the branch is being revamped to become the latest Woermann Fresh. Moreover, a statement from an occupational health and safety inspector in the...
The Namibian Competition Commission imposed a N$5 million fine on four entities in the cement industry for merging without notifying the Commission, and implementing the merger without approval. The entities fined are Fan Qingmei, Wang Zhongke, Hong Xiang Holdings LTD and Whale Rock Cement Pty (Ltd). The Commission noted that it is concerned about mergers...
Kia’s facelifted 2024 Seltos and Picanto models have arrived at Namibian showrooms, and are sure to spark the curiosity of prospective owners with a host of new features and gadgets. The entry-level Kia Seltos, sporting a manual gearbox, starts off at N$473 000, while the top of the range 1.5 litre turbo GT version goes...
Chery’s new Tiggo 7 Pro Max AWD offers a robust 1.6 litre turbo-petrol engine under the bonnet that produces a very impressive 145kW and 290Nm of torque. The performance of this remarkable engine is second to none, and easily gives vehicles with larger engines a good run for their money. Taking the Pro Max 7...