London-based Kalahari Minerals has said it remains confident that its relations with Namibia’s government and its investment in the country will continue, despite proposed changes that could see all mining and mineral exploration permits issued to the state-owned mining company, Epangelo.
The proposed changes, outlined by Namibian Mines and Energy minister Isak Katali, are being considered to ensure Namibian citizens receive more benefit from the country’s mineral wealth. Namibia is the world’s fourth-largest producer of uranium.
The Chamber of Mines has recently said it was assured by Katali that the changes would not affect current licences in respect of ‘strategic minerals’.
Kalahari holds a 42.79 per cent interest in Extract Resources, a Namibia-focused uranium exploration and development company whose principal asset is its 100 per cent-owned Husab Uranium Project. Husab contains one of the fifth largest uranium-only deposits in the world, with exploration potential for further new uranium discoveries existing in the region.
In a statement released today, Kalahari said it wanted to “reiterate its confidence in Extract’s strategy to progress development of the world-class Husab Uranium Project towards production for the benefit of all stakeholders”.
Commenting, Mark Hohnen, Kalahari’s executive chairman, said: “The boards of Kalahari and Extract understand the importance of progressing development of Husab for the benefit of all stakeholders, and in turn, the government of the Republic of Namibia has maintained its support of this process, demonstrated most recently by the extension of EPL 3138, which covers the Husab project area, for a further two-year period to 30 April 2013.
“I remain confident that our strong relationship with the government and our investment in Namibia will continue to bear fruit for both Kalahari and Extract, as we work together to ensure all parties benefit from the development of Husab.”
