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Locals must retain 15% of mineral licences

2021-03-11  Staff Reporter

Locals must retain 15% of mineral licences
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The Ministry of Mines and Energy has clarified that starting 1 April 2021 the mines minister will not grant any applications from Namibian licence holders for the transfer of mineral licences, or the cession or assignment of interest in a mineral licence unless locals who make such an application retain at least 15% of the very licence they own or wish to transfer and/or surrender.

The clarification comes after an erroneous local newspaper article reported that all applications for mining licences in Namibia must have 15% local owners. 

Ministry spokesperson Andreas Simon also explained that the move to localise ownership of Namibian mining licences stems from the ongoing review and alignment of application requirements and procedures. 

Under the Minerals (Prospecting and Mining) Act (1992) the mines and energy minister is empowered to grant an application made by a licensee for the transfer of mineral licences, or the cession or assignment of interest in a mineral licence on the terms and conditions determined by the minister.

A recent statement from the ministry stated that “the Minister hereby determines that as of 1 April 2021, applications submitted by Namibian licence holders for the transfer of mineral licences, or the cession or assignment of interest in a mineral licence may be granted subject to the condition that 15% interest in the licence must be retained by Namibians”.

 

 


2021-03-11  Staff Reporter

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