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Geologists explores mineral potential

A multidisciplinary research project that aims to establish deeper understanding on the formation of the Matchless Belt, a natural feature said to be rich in minerals such as copper and gold is currently under way.
The project, spearheaded by the University of Namibia’s (Unam) geology department, will explore the copper rich zone at the Damara Belt located some few kilometres outside Windhoek. The project will be conducted as part of efforts to obtain preliminary age data from the Matchless Belt and identify suitable locations for detailed research studies as per project objectives.
According to Dr Fred Kamona, head of Unam’s geology department, the link between the location of ore deposit sites at the local and regional scales along the Matchless Belt is a critical problem that has not been adequately addressed, hence the need for the study. “The discovery of new ore deposits depends on better knowledge of the existing ore deposits and improved exploration methods, including geological and geophysical methods to identify potential targets,” he said.
The project is held in collaboration with Uppsala University in Sweden. Scheduled to run for about three years, the project will also seek to confirm collaboration and support of the exploration and mining companies as well as other institutions to further initialise first sub-projects on selected topics.
The project that started in July, has attracted masters degree and doctorate students.
Other key partners of the project are Weatherly Mining International, Meeting Points Mining and the Geological Survey of Namibia.
The exact length of the Matchless Belt is not well known due to a cover of Kalahari sands towards the eastern extension of the Belt in Botswana, but it is known to be at least 350 km long in Namibia. The proposed project will cost an estimated N$1.3 million.

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

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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.