Select Page

Renewable revolution drives cobalt search in Opuwo

Renewable revolution drives cobalt search in Opuwo

With the boom in electric vehicle production across the globe, as well as renewable storage, and smartphones, Australian-listed exploration firm, Celsius Resources is making inroads in Namibia in search of cobalt, which is used in the manufacturing of cobalt-based, lithium ion batteries.

The Celsius Resources Managing Director, Brendan Borg in a presentation delivered at the Paydirt 2017 Africa Downunder conference in Perth this week said, Celsius is moving to an immediate 95% interest in Opuwo Cobalt Project in partnership with local shareholders, Gecko Namibia.

The Opuwo Cobalt Project is an advanced exploration project with intensive surface exploration already undertaken by previous explorers. The project is located in the central part of the Kunene Region west of Opuwo, some 800 kilometres from Windhoek and 750 kilometres from the port of Walvis Bay. According to Borg, it has the potential to find large-scale, sediment-hosted copper-cobalt mineralisations.

Borg said that Gecko Namibia is to become the largest shareholder of Celsius as a result of the 95% shareholding transaction and Gecko Namibia’s Managing Director Pine van Wyk will be appointed to the Celsius Board.

He said that the new licences surrounding Opuwo totalling approximately 782 km2 acquired from Gecko Namibia, and over 100 km of proven cobalt-copper prospects, are under control of Celsius.

According to Borg, a 15 km cobalt-copper-zinc mineralised zone was identified in the initial drilling programme and since August 2017, 56 holes have been completed by Celsius.

Borg also said that metallurgical test work is in progress and the results are expected to be positive for sulphide-hosted mineralisation. Furthermore he said that a scoping study is underway and is set to be completed in the first quarter of 2018. The first key consultants for the assay have been appointed.

Currently across the globe, cobalt’s role in the renewables revolution is robust and demand projections have seen price increase to US$61,500/tonne, with further upside expected, he added.

Cobalt is also widely used for super-alloys in turbines, space vehicles, rocket engines and power plants.


About The Author

Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.