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Local Bank primed to partner with mining sector

Local Bank primed to partner with mining sector

As the 2017 Mining Expo draws near, local bank, Standard Bank has committed itself to partner and support the local mining industry.

This year’s Mining Expo and Conference is being held under the theme: “Reaping the benefits of Mining Investments.” and will take place from 26 – 27th April at the Windhoek Show Grounds.

“Standard Bank understands that mining companies require considerable amounts of financing for their large-scale mining projects,” said Adri Spangenberg, Head Client Coverage at Standard Bank.

One of the recent highlights at the bank has been the co-financing of Debmarine Namibia’s latest sampling and exploration vessel. According to Spangenberg this funding facility amounted to approximately N$1.8 billion.

“Mining is a complex business, which is influenced by several factors including uncertainties in commodity prices on the world markets. In terms of this year’s outlook, commodity prices have rebounded and several counters are showing promise of a sustained upward momentum.
“Our appetite for mining projects remains strong,” said Spangenberg.

According to him, mining prospects look bright for Namibia as the country is currently the world’s fourth largest producer of uranium. Through the commencement of the Husab mine production Namibia is expected to take its seat as the second largest Uranium producer globally.

“Like many large investment banks, we work with government, corporates and financial clients in multiple sectors and geographies. Unlike most, we are first and foremost Namibian; we have a long, proud history that gives us unique depth of expertise and breadth of footprint. We are set apart by our scale, by the strength of our regional and international connections, and by our ability to innovate. Our track record shows our success in building businesses across Namibia, especially in the natural resources, mining and power and infrastructure sectors,” said Spangenberg.

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