Katali eases nationalisation concerns
The Minister of Mines and Energy has eased the nationalisation concerns of international investors attending a mining conference in Australia.
On Wednesday, Minister Isak Katali told international investors gathered for the annual Africa Down Under conference in Perth, Australia that the formation of state-owned mining company, Epangelo should not discourage private players in the lucrative mining industry.
He said: “I must stress that Epangelo is not intended to discourage private investment nor is it a vehicle for nationalisation. Epangelo is also not part of government regulation but will compete on a level playing field with private enterprises.”
Katali assured investors that Epangelo’s role was only to enable state participation in mining through strategic partnerships, joint ventures and provide a conduit for government to government investment in the mining sector.
He added: “Many countries worldwide have state-owned mining companies who prefer to cooperate with a similar company in Namibia. Epangelo will also facilitate technical training, so creating mining related employment opportunities for Namibians.”
Epangelo has 29 exploration licences for various minerals and is currently negotiating joint venture agreements with several international companies.