#JustIn: Govt won’t claim stake in existing mining operations

Government has no intention to seize any stake from existing mineral or petroleum licence holders in Namibia and remains committed to uphold the sanctity of these contracts.

Mines and energy senior spokesperson Andreas Simon issued a statement to clarify the “wrong perceptions” created by international media reports on comments made by mines and energy minister Tom Alweendo in his opening remarks on Monday at the oversight workshop in Swakopmund on maximising the potential of the mining and energy sectors in Namibia.

Alweendo was quoted as saying that proposed state ownership should take the form where the state owns a minimum equity percentage. This created a flurry as investors and shareholders thought Alweendo meant all mines.

“The ministry would also like to assure current and potential investors that Namibia is a country governed by the principles of democracy and a rule of rule as enshrined in the Constitution of the Republic of Namibia, and which is enforced by an independent judiciary. Our government has proven many times times that we respect and stand guided by those laws,” Simon said.