(Economic Times of India)-Completely dependent on imports for rough diamonds, lifeline of the 14-billion-dollar exports of the polished precious stone, India is taking steps to obtain the raw material directly from Africa instead of sourcing it from European middlemen.
Minister of State for Commerce Jairam Ramesh is taking a delegation of country's major buyers of rough diamonds to Namibia and Angola beginning March 26.
Officers from the Gems and Jewellery Export Promotion Council, State Trading Corporation and MMTC Ltd are accompanying the minister, who feels India must involve Africa in the value chain of the diamond business.
In future, India will find it difficult to source rough diamonds unless it demonstrates to African nations that it will collaborate actively in helping them move up the value chain and assist in value addition in these producing countries. The Africanisation of diamonds processing industry is not a threat to India but a great opportunity which "we must proactively embrace", Ramesh said.
He said the visit to Angola and Nambia will be followed by another one in the next couple of months to South Africa and Botswana, the other important diamond producing countries in Africa.
India's estimated imports of rough diamonds in 2007-08 are 10 billion dollars, while estimates of exports of cut and polished diamonds in 2007-08 are about 14 billion dollars.
The country is the world's largest importer of rough and exporter of cut and polished diamonds with over 90 per cent market share.
Rough diamonds are presently procured through a variety of sources with the bulk of it coming into India through Antwerp in Belgium. It is in India's long-term interest to establish direct relationships with supplier countries, cutting out all the middlemen, Ramesh said.
The Commerce Ministry has also started dialogue with the major diamond producing countries. Alrossa, the Russian diamond producing company has recently sold roughs directly to Indian buyers, though in small quantities.
Angola produces about 10 per cent of the world's rough diamonds and is also a country with which India has been trying to establish a relationship in the oil sector. Namibia accounts for about six per cent of world rough diamonds production.
Though India has embarked on exploration of diamonds, it will take at least a decade before commercial deposits in states like Chhattisgarh, Andhra Pradesh and Karnataka are proven and established. The diamond cutting and polishing industry will continue to be entirely dependent on imports of rough diamonds for a long time to come, Ramesh said.
Officials of the ONGC Videsh are also accompanying the minister and will assist him in talks on cooperation with Angola in oil exploration (Economic Times of India)
Tuesday, March 25, 2008
OGI Systems granted contract with Julius Klein Diamond Namibia, diamondintelligence.com reports
(www.diamondintelligence.com)-OGI Systems Ltd., creator of advanced technological tools for diamond designing manufacturing, has been granted a contact to be the main supplier for the Julius Klein Diamond (JKD) company in Namibia.
OGI Systems will supply machines for measuring and marking diamonds to JKD’s recently established factory in Windhoek.
Commenting on the contract, Daniel Ben Jano, OGI Systems Chief Executive Officer, says that “this association with JKD illustrates the directo control of OGI Systems Ltd. as the main supplier of Technological solutions for [DTC] sightholder firms.”
OGI Systems has developed an advanced USB technology used in laser marking of diamonds as well as in rough planning and laser scanning (www.diamondintelligence.com)
OGI Systems will supply machines for measuring and marking diamonds to JKD’s recently established factory in Windhoek.
Commenting on the contract, Daniel Ben Jano, OGI Systems Chief Executive Officer, says that “this association with JKD illustrates the directo control of OGI Systems Ltd. as the main supplier of Technological solutions for [DTC] sightholder firms.”
OGI Systems has developed an advanced USB technology used in laser marking of diamonds as well as in rough planning and laser scanning (www.diamondintelligence.com)
Gem-rich Namibia urges Thais to invest, Bankokpost reports
(Bankokpost)-Thais are being urged to invest in Namibia in southern Africa, particularly in diamond and jewellery cutting, mining and raw material supply for Thai jewellery.
Namibia has currently opened room for foreign investment with no restrictions on foreign ownership, and about 100 new concessions for diamond mining have been granted to the private sector. The mines have yet to become operational.
"We see Thai investors can take this opportunity to look for joint ventures in establishing gem cutting and diamond cutting in Namibia to cut operating costs," said Neville M. Gertze, Ambassador of Namibia to Thailand, who met Deputy Prime Minister Mingkwan Sangsuwan yesterday.
Namibia is well known for its diamond industry. The country's economy consists primarily of mining and manufacturing, which represent 74% and 11% of the gross domestic product (GDP), respectively.
Over the past three years its government has granted 50 concessions for the private sector to operate diamond mines that could produce a total of 100,000 carats of diamond per month. De Beers, the world's leading diamond producer, is one of the companies that operates diamond mining in Namibia, producing about one million carats of diamonds per year.
Apart from diamonds, Namibia is also rich in gems and precious stones such as tourmaline, amethyst, topaz, tiger-eye quartz and red quartz, and other minerals such as gold, uranium, copper, zinc and natural gas.
Mr Mingkwan said the Commerce Ministry in the near future planned to organise business trips to Namibia in order to seek trade and business opportunities, especially related to raw materials for the Thai jewellery industry.The Thai jewellery industry now imports raw materials from Namibia, mainly through middlemen.
Two-way trade between Namibia and Thailand was worth only US$5.05 million last year, with Thai exports representing $4.20 million. Thai exports were mainly for automobiles and parts, processed seafood, rubber products, machinery and components.
Namibia exports animal products and textiles to Thailand.
Mr Mingkwan said barter trade would probably be promoted to expand trade with Namibia, as the country desperately needed agricultural products from Thailand such as rice and seafood products (Bankokpost)
Namibia has currently opened room for foreign investment with no restrictions on foreign ownership, and about 100 new concessions for diamond mining have been granted to the private sector. The mines have yet to become operational.
"We see Thai investors can take this opportunity to look for joint ventures in establishing gem cutting and diamond cutting in Namibia to cut operating costs," said Neville M. Gertze, Ambassador of Namibia to Thailand, who met Deputy Prime Minister Mingkwan Sangsuwan yesterday.
Namibia is well known for its diamond industry. The country's economy consists primarily of mining and manufacturing, which represent 74% and 11% of the gross domestic product (GDP), respectively.
Over the past three years its government has granted 50 concessions for the private sector to operate diamond mines that could produce a total of 100,000 carats of diamond per month. De Beers, the world's leading diamond producer, is one of the companies that operates diamond mining in Namibia, producing about one million carats of diamonds per year.
Apart from diamonds, Namibia is also rich in gems and precious stones such as tourmaline, amethyst, topaz, tiger-eye quartz and red quartz, and other minerals such as gold, uranium, copper, zinc and natural gas.
Mr Mingkwan said the Commerce Ministry in the near future planned to organise business trips to Namibia in order to seek trade and business opportunities, especially related to raw materials for the Thai jewellery industry.The Thai jewellery industry now imports raw materials from Namibia, mainly through middlemen.
Two-way trade between Namibia and Thailand was worth only US$5.05 million last year, with Thai exports representing $4.20 million. Thai exports were mainly for automobiles and parts, processed seafood, rubber products, machinery and components.
Namibia exports animal products and textiles to Thailand.
Mr Mingkwan said barter trade would probably be promoted to expand trade with Namibia, as the country desperately needed agricultural products from Thailand such as rice and seafood products (Bankokpost)
Thursday, March 20, 2008
Forsys predicts earnings and cash flow robust, Namibian, Nampa reports
(Namibian/Nampa)-AT current uranium prices, the earnings and cash flows of Forsys Metals Corporation looks robust, according to its latest analyst report.
Forsys is a junior mining developer, which is close to completing a feasibility study on its 100 per cent-owned Valencia uranium project in Namibia.
It is situated 76 km southwest of Usakos, 35 km from the Roessing Uranium Mine and 40 km from Paladin's Langer Heinrich Uranium Mine near Swakopmund, in the Erongo Region.
The deposit is amenable to open-pit mining and processing.
Once in full production, Valencia could produce roughly 2,9 million pounds of uranium annually over a minimum 11-year mine life.
The report was compiled by Salman Partners on 12 March this year, and published on the company's website.
Capital spending would be roughly about N$2,2 billion versus the estimate in Forsys' pre-feasibility study of about N$1,6 billion to bring the project into production by mid-2010.
The company expected an average operating cash cost of approximately about N$288,82 per pound over the minimum 11-year mine-life.
"Several potential catalysts, including a potential take-over, resource growth through drilling, and a spin-off of non-core assets, could unlock shareholder value.
We believe that Forsys could be taken over by another uranium miner, a power utility or a nuclear power plant manufacturer looking to secure a long-term supply of uranium from a stable country.
We initiate coverage on the shares of Forsys with a buy recommendation," the report highlighted.
The company cited that there is good potential to find additional uranium resources within the immediate area around the Valencia project.
The company is currently carrying out exploration between the east zone, the north zone, and the main zone.
The report claimed that has a significant land package, surrounding Valencia, which could yield additional uranium deposits.
Valencia is one of the best uranium takeover targets available and Areva's acquisition of UraMin is the first volley in the impending flurry of takeovers in the uranium space indicated that Forsys is a plum target ripe for the picking, according to the report.
The Valencia project is expected to come on line in 2010.
"We expect that the commencement of production could coincide with peak uranium prices, which we estimate could average N$1 442 per pound in 2010, increasing to almost N$1 484 per pound in 2011.
We believe that Forsys could reap strong profits in the first couple of years of production," it noted.
Most of the world's supplies of mined uranium come from Canada, Australia, Kazakhstan, Niger, Namibia, Russia, Uzbekistan, South Africa, Ukraine and the United States-Namibian/Nampa.
Forsys is a junior mining developer, which is close to completing a feasibility study on its 100 per cent-owned Valencia uranium project in Namibia.
It is situated 76 km southwest of Usakos, 35 km from the Roessing Uranium Mine and 40 km from Paladin's Langer Heinrich Uranium Mine near Swakopmund, in the Erongo Region.
The deposit is amenable to open-pit mining and processing.
Once in full production, Valencia could produce roughly 2,9 million pounds of uranium annually over a minimum 11-year mine life.
The report was compiled by Salman Partners on 12 March this year, and published on the company's website.
Capital spending would be roughly about N$2,2 billion versus the estimate in Forsys' pre-feasibility study of about N$1,6 billion to bring the project into production by mid-2010.
The company expected an average operating cash cost of approximately about N$288,82 per pound over the minimum 11-year mine-life.
"Several potential catalysts, including a potential take-over, resource growth through drilling, and a spin-off of non-core assets, could unlock shareholder value.
We believe that Forsys could be taken over by another uranium miner, a power utility or a nuclear power plant manufacturer looking to secure a long-term supply of uranium from a stable country.
We initiate coverage on the shares of Forsys with a buy recommendation," the report highlighted.
The company cited that there is good potential to find additional uranium resources within the immediate area around the Valencia project.
The company is currently carrying out exploration between the east zone, the north zone, and the main zone.
The report claimed that has a significant land package, surrounding Valencia, which could yield additional uranium deposits.
Valencia is one of the best uranium takeover targets available and Areva's acquisition of UraMin is the first volley in the impending flurry of takeovers in the uranium space indicated that Forsys is a plum target ripe for the picking, according to the report.
The Valencia project is expected to come on line in 2010.
"We expect that the commencement of production could coincide with peak uranium prices, which we estimate could average N$1 442 per pound in 2010, increasing to almost N$1 484 per pound in 2011.
We believe that Forsys could reap strong profits in the first couple of years of production," it noted.
Most of the world's supplies of mined uranium come from Canada, Australia, Kazakhstan, Niger, Namibia, Russia, Uzbekistan, South Africa, Ukraine and the United States-Namibian/Nampa.
Black gold not out yet, Namibia Economist reports
(Namibia Economist)-20 March. A seismic study by INA Industrija Nafte, which is exploring for oil in Maltahohe, has sparked rumours of an oil find in Namibia. The Economist was inundated by calls this week from members of the public who wanted to verify these rumours.
Unfortunately there is no oil find yet, Permanent Secretary in the Ministry of Mines and Energy, Joseph Iita, told the Economist.
The ministry is the first to be informed of any oil find may any of the eight exploring companies find the commodity in the country.
INA Industrija Nafte, on 7 March, invited Minister Erkki Nghimtina for a seismic demonstration at its site, which is located on the Zaris Block.
The company is nearing the completion of the programme – the final tests are expected to be completed by the end of April – after which the results are to undergo interpretations. The interpretation process will take about three months. May the results be positive, the company will have to proceed with drilling. The preliminary results from the first stages of the seismic test are encouraging.
Other companies involved in oil exploration in Namibia are Tullow Oil, BHP Billiton, Hunt Oil, Neptune Petroleum, Greendale Universal Holdings and First Africa Oil Corporation.
Hunt Oil is in possession of an exploration license over the area known as the Lüderitz Basin. The licence covers four years. Britain’s Neptune Petroleum is exploring in the Walvis Basin.
The other companies are exploring in the Owambo Basin.
The government, especially the Ministry of Mines and Energy, has always believed that Namibia has oil. At the seismic demonstration in Maltahohe, Nghimtina said that other exploration programmes elsewhere are proceeding with good progress. A drilling ship is being expected to dock in Namibia next month from Angola. The ship will engage in the first ever exploration for oil in the Namibe Basin.
“I continue to argue that if Angola has such an abundance of oil and South Africa also has some oil of their own, God could not have been as unfair as to leave out Namibia in the middle without a drop of oil,” Nghimtina is on record as saying.
This week Iita reiterated his ministry conviction of oil’s presence in the country saying “there will be oil in Namibia but none has been discovered yet”-Namibia Economist.
Unfortunately there is no oil find yet, Permanent Secretary in the Ministry of Mines and Energy, Joseph Iita, told the Economist.
The ministry is the first to be informed of any oil find may any of the eight exploring companies find the commodity in the country.
INA Industrija Nafte, on 7 March, invited Minister Erkki Nghimtina for a seismic demonstration at its site, which is located on the Zaris Block.
The company is nearing the completion of the programme – the final tests are expected to be completed by the end of April – after which the results are to undergo interpretations. The interpretation process will take about three months. May the results be positive, the company will have to proceed with drilling. The preliminary results from the first stages of the seismic test are encouraging.
Other companies involved in oil exploration in Namibia are Tullow Oil, BHP Billiton, Hunt Oil, Neptune Petroleum, Greendale Universal Holdings and First Africa Oil Corporation.
Hunt Oil is in possession of an exploration license over the area known as the Lüderitz Basin. The licence covers four years. Britain’s Neptune Petroleum is exploring in the Walvis Basin.
The other companies are exploring in the Owambo Basin.
The government, especially the Ministry of Mines and Energy, has always believed that Namibia has oil. At the seismic demonstration in Maltahohe, Nghimtina said that other exploration programmes elsewhere are proceeding with good progress. A drilling ship is being expected to dock in Namibia next month from Angola. The ship will engage in the first ever exploration for oil in the Namibe Basin.
“I continue to argue that if Angola has such an abundance of oil and South Africa also has some oil of their own, God could not have been as unfair as to leave out Namibia in the middle without a drop of oil,” Nghimtina is on record as saying.
This week Iita reiterated his ministry conviction of oil’s presence in the country saying “there will be oil in Namibia but none has been discovered yet”-Namibia Economist.
Wednesday, March 19, 2008
Bannerman Resources to dual list on Namibia Stock Exchange
(miningnamibia) March 20-Bannerman Resources Ltd, which is listed on the Australian Stock Exchange and Toronto Stock Exchange will dual list on the Namibian Stock Exchange on 2 April, a statement released in Windhoek said. Bannerman will become the fifth uranium company to list in Namibia after Deep Yellow, Forsys, Paladin Energy and Xempler.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Rio Tinto's Rössing Uranium submits Environmental Impact Assessment to government
(miningnamibia) 19 March. Rio Tinto's Rössing Uranium Mine has submitted the Social and Environmental Impact Assessment (SEIA) on its expansion project to the Namibian Ministry of Environment and Tourism for consideration.
Marie Hoadley, Public Participation manager of the Rössing Uranium Mine Expansion Project said today that if the ministry's decision is positive, a clearance will be issued and the project will be able to proceed.
The final SEIA Report can be downloaded from Rössing Uranium’s website, www.rossing.com
Hoadley said the the scoping stage of the second phase of the SEIA process has commenced and a draft of the scoping report will soon be made available for public comment.
Rio Tinto approved the US$112 million expansion plan for Rössing Uranium mine in December 2005. The expansion is expected to increase the production life of the mine to 2016.
Marie Hoadley, Public Participation manager of the Rössing Uranium Mine Expansion Project said today that if the ministry's decision is positive, a clearance will be issued and the project will be able to proceed.
The final SEIA Report can be downloaded from Rössing Uranium’s website, www.rossing.com
Hoadley said the the scoping stage of the second phase of the SEIA process has commenced and a draft of the scoping report will soon be made available for public comment.
Rio Tinto approved the US$112 million expansion plan for Rössing Uranium mine in December 2005. The expansion is expected to increase the production life of the mine to 2016.
Tuesday, March 18, 2008
New uranium mines increasing demand for power
New uranium mines in Namibia increasing power demand
(miningnamibia)-March 18-New uranium mines in Namibia are increasing the country's power consumption, according to a recent study conducted by the Windhoek based by the Renewable Energy and Energy Efficiency Institute (REEEI).
REEEI is looking at several options of increasing power production for the next 18 years until 2026, with low, medium and high electricity demand scenarios.
The country's has a generation capacity of 384 megawatt (MW) and imports about 200 MW when demand perks especially in winter.
Skorpion Zinc mine consumes about 80 MW and Forsys, Deep Yellow and Uramin are developing uranium mines in the country. Paladin Energy's Langer Heinrich mine was opened last year.
According to REEEI, if Namibia use renewable energy sources to produce electricity, this could contribute 20 per cent of the country's electricity supply.
(miningnamibia)-March 18-New uranium mines in Namibia are increasing the country's power consumption, according to a recent study conducted by the Windhoek based by the Renewable Energy and Energy Efficiency Institute (REEEI).
REEEI is looking at several options of increasing power production for the next 18 years until 2026, with low, medium and high electricity demand scenarios.
The country's has a generation capacity of 384 megawatt (MW) and imports about 200 MW when demand perks especially in winter.
Skorpion Zinc mine consumes about 80 MW and Forsys, Deep Yellow and Uramin are developing uranium mines in the country. Paladin Energy's Langer Heinrich mine was opened last year.
According to REEEI, if Namibia use renewable energy sources to produce electricity, this could contribute 20 per cent of the country's electricity supply.
Thursday, March 13, 2008
Zinc, copper prices help Namibian Business Climate climb to 144 points
(miningnamibia) March 13. Rising prices zinc and copper helped the Namibian Business Climate to reach 144 points in January following three consecutive months of decline.
The IJG Business Climate Index increase by 3.6 points on December' s figure. Apart from metal prices, the index’s gains were based on an increase in new business registrations, a steady rise in the local index of the Namibian Stock Exchange, and a further depreciation in the Namibia dollar against the Euro.
Anglo American's Skorpion Zinc Mine and Exxaro's Rosh Pinah Zinc Corporation are Namibia's Zinc mines. Weatherly International runs the country's only copper mines in the north as well as a smelter.
The IJG Business Climate Index increase by 3.6 points on December' s figure. Apart from metal prices, the index’s gains were based on an increase in new business registrations, a steady rise in the local index of the Namibian Stock Exchange, and a further depreciation in the Namibia dollar against the Euro.
Anglo American's Skorpion Zinc Mine and Exxaro's Rosh Pinah Zinc Corporation are Namibia's Zinc mines. Weatherly International runs the country's only copper mines in the north as well as a smelter.
Tuesday, March 11, 2008
Julius Klein Group and Dinamo Group Commence Diamond Manufacturing In Namibia
(miningnamibia) March 12-The Julius Klein Group (JKG) and its Namibian partner, the Dinamo Group, today announced the official opening of its new diamond manufacturing facility and corporate office, JKD Namibia (Pty) Ltd, in Prosperita, Windhoek.
This will mark the second manufacturing facility that the Julius Klein Group has opened in southern Africa, joining its sister operation in Johannesburg, South Africa.
More than N$ 30m (approx. US$4m) has been invested thus far in building a state of the art manufacturing facility, which currently employs 91 staff, of which 68 are Namibian and, once at full operational capacity, will employ over 125 staff.
“With this new venture, we bring with us the same traditions and values upon which Julius Klein Diamonds was built: integrity, trust, dedication and pride in craftsmanship” said A D Klein, JKG President. “It is these same values we are fully committed to instilling throughout everything we do today and always at JKD Namibia.”
Shihaleni Ndjaba, CEO of Namibia Diamond Trading Company (NDTC) added, ‘’The entry of JKD Namibia in the Namibian diamond manufacturing industry marks an important milestone in the local beneficiation process. The commitment shown by the JKD Group and their Namibian partners, the Dinamo Group, is highly commendable and NDTC is looking forward to working in partnership with JKD Namibia in creating a sustainable manufacturing industry in Namibia’’
Phillipine Angula, JKD Namibia Marketing Manager and partner from the Dinamo Group concurred with Messieurs Klein and Ndjaba. “The Dinamo Group is thrilled to be part of the value added proposition undertaken by JKD Namibia and its principles. Together, Julius Klein and Dinamo will strive to enhance and contribute to the economic development and social beneficiation of our fine country, including contributing to the promotion and marketing of a Namibian diamond brand.”
The Julius Klein Group has been a DTC Sightholder since 1990 with JKD Namibia receiving confirmation that it had been selected as one of 11 NDTC Sightholders in October 2007. JKD Namibia will receive supplies of rough diamonds from the NDTC until 2011.
This will mark the second manufacturing facility that the Julius Klein Group has opened in southern Africa, joining its sister operation in Johannesburg, South Africa.
More than N$ 30m (approx. US$4m) has been invested thus far in building a state of the art manufacturing facility, which currently employs 91 staff, of which 68 are Namibian and, once at full operational capacity, will employ over 125 staff.
“With this new venture, we bring with us the same traditions and values upon which Julius Klein Diamonds was built: integrity, trust, dedication and pride in craftsmanship” said A D Klein, JKG President. “It is these same values we are fully committed to instilling throughout everything we do today and always at JKD Namibia.”
Shihaleni Ndjaba, CEO of Namibia Diamond Trading Company (NDTC) added, ‘’The entry of JKD Namibia in the Namibian diamond manufacturing industry marks an important milestone in the local beneficiation process. The commitment shown by the JKD Group and their Namibian partners, the Dinamo Group, is highly commendable and NDTC is looking forward to working in partnership with JKD Namibia in creating a sustainable manufacturing industry in Namibia’’
Phillipine Angula, JKD Namibia Marketing Manager and partner from the Dinamo Group concurred with Messieurs Klein and Ndjaba. “The Dinamo Group is thrilled to be part of the value added proposition undertaken by JKD Namibia and its principles. Together, Julius Klein and Dinamo will strive to enhance and contribute to the economic development and social beneficiation of our fine country, including contributing to the promotion and marketing of a Namibian diamond brand.”
The Julius Klein Group has been a DTC Sightholder since 1990 with JKD Namibia receiving confirmation that it had been selected as one of 11 NDTC Sightholders in October 2007. JKD Namibia will receive supplies of rough diamonds from the NDTC until 2011.
Forsys Appoints New Chief Financial Officer
Forsys Appoints New Chief Financial Officer
March 11-(miningnamibia)-Forsys Metals Corp has announced the appointment of Craig Bamford to the executive position of Chief Financial Officer (CFO) effective March 10, 2008.
Bamford is a Chartered Accountant and experienced CFO with more than 25 years of finance background relating to project management and controls, financial reporting and controls, treasury and capital management, risk management, due diligence and business development, Forsys said. Bamford has 22 years of experience in the uranium industry and was previously the CFO for Denison Energy Inc., formerly Denison Mines Limited, a major North American uranium producer.
March 11-(miningnamibia)-Forsys Metals Corp has announced the appointment of Craig Bamford to the executive position of Chief Financial Officer (CFO) effective March 10, 2008.
Bamford is a Chartered Accountant and experienced CFO with more than 25 years of finance background relating to project management and controls, financial reporting and controls, treasury and capital management, risk management, due diligence and business development, Forsys said. Bamford has 22 years of experience in the uranium industry and was previously the CFO for Denison Energy Inc., formerly Denison Mines Limited, a major North American uranium producer.
Monday, March 10, 2008
Nuclear power bad option: Earthlife Namibia, The Namibian reports
March 10-The Namibian-THE use of nuclear power is unsafe, dangerous and a bad option for Namibia, due to long-term radiation and unsolved problems regarding nuclear waste storage placing a heavy burden on future generations, a Namibian environmental organisation says.
In a reaction to last week's Cabinet decision to opt for uranium enrichment in Namibia as well as the construction of a nuclear power plant, the organisation Earthlife Namibia on Friday said it was "absolutely shocked" about the decision.
"Given current global demand, it is estimated that the world's uranium resources - both those currently available and possible new reserves - will be exhausted within 60 to 70 years," it said.
Earthlife stated that Government's view that electricity produced by nuclear power plants was environmentally friendly and free of carbon emissions was not true.
According to the Cabinet briefing paper, "energy produced by nuclear power stations is considered carbon free, especially if its fuel is processed using nuclear-generated electricity.
Products made or mined using this power qualifies for special consideration in terms of carbon credit."
Earthlife countered that the nuclear industry lobby and pro-nuclear politicians wanted to make the world believe that nuclear power was climate friendly.
"The whole fuel cycle of nuclear power, from mining uranium, enrichment of uranium to the decommissioning of the power station after its lifespan, releases three to four times more carbon dioxide per unit of energy produced than renewable energy," Earthlife spokesperson Bertchen Kohrs noted.
"High-level nuclear waste remains radioactive for a long time and worldwide there is no solution of safe disposal.
Nuclear waste is a problem that does not go away because it remains dangerous for at least 200 000 years, thus we burden many generations to come with a problem we create today.
There is a risk of low-level radiation in all stages of the nuclear power process.
Research shows that low-level radiation does have health and environmental implications," Kohrs said in the statement.
Earthlife argues that nuclear energy is on average up to four times more expensive than electricity produced from fossil fuels like oil, coal and gas.
"The enormous costs of decommissioning a nuclear power station and dealing with nuclear waste are usually not included in project cost plans."
Nuclear accidents were mostly a combination of technological and human failure, and could never be ruled out completely; a nuclear accident could have a terrible impact on many generations to come, it warned.
"The consequences of the nuclear explosion at the power station of Chernobyl in the Ukraine 20 years ago still burden many people and the environment.
"Earthlife Namibia urges Government to not make nuclear energy generation an option.
Namibia has many sustainable and climate-friendly resources which should be utilised to the benefit of the country, its people and the environment.
Namibia has two uranium mines - Roessing and Langer Heinrich - in operation.
Twelve more mines are planned, mostly in the Erongo Region, while the largest uranium deposit has been found near Warmbad in a mountain range along the Orange River.
According to mining experts, Namibia's uranium deposits will be depleted by about 2026.
"There is not much use of having a nuclear power station and a uranium enrichment plant, both of which would take at least ten years - until 2018 - to get up and running when eight just years later uranium mining will end," a geologist speaking on condition of anonymity told The Namibian over the weekend (The Namibian).
In a reaction to last week's Cabinet decision to opt for uranium enrichment in Namibia as well as the construction of a nuclear power plant, the organisation Earthlife Namibia on Friday said it was "absolutely shocked" about the decision.
"Given current global demand, it is estimated that the world's uranium resources - both those currently available and possible new reserves - will be exhausted within 60 to 70 years," it said.
Earthlife stated that Government's view that electricity produced by nuclear power plants was environmentally friendly and free of carbon emissions was not true.
According to the Cabinet briefing paper, "energy produced by nuclear power stations is considered carbon free, especially if its fuel is processed using nuclear-generated electricity.
Products made or mined using this power qualifies for special consideration in terms of carbon credit."
Earthlife countered that the nuclear industry lobby and pro-nuclear politicians wanted to make the world believe that nuclear power was climate friendly.
"The whole fuel cycle of nuclear power, from mining uranium, enrichment of uranium to the decommissioning of the power station after its lifespan, releases three to four times more carbon dioxide per unit of energy produced than renewable energy," Earthlife spokesperson Bertchen Kohrs noted.
"High-level nuclear waste remains radioactive for a long time and worldwide there is no solution of safe disposal.
Nuclear waste is a problem that does not go away because it remains dangerous for at least 200 000 years, thus we burden many generations to come with a problem we create today.
There is a risk of low-level radiation in all stages of the nuclear power process.
Research shows that low-level radiation does have health and environmental implications," Kohrs said in the statement.
Earthlife argues that nuclear energy is on average up to four times more expensive than electricity produced from fossil fuels like oil, coal and gas.
"The enormous costs of decommissioning a nuclear power station and dealing with nuclear waste are usually not included in project cost plans."
Nuclear accidents were mostly a combination of technological and human failure, and could never be ruled out completely; a nuclear accident could have a terrible impact on many generations to come, it warned.
"The consequences of the nuclear explosion at the power station of Chernobyl in the Ukraine 20 years ago still burden many people and the environment.
"Earthlife Namibia urges Government to not make nuclear energy generation an option.
Namibia has many sustainable and climate-friendly resources which should be utilised to the benefit of the country, its people and the environment.
Namibia has two uranium mines - Roessing and Langer Heinrich - in operation.
Twelve more mines are planned, mostly in the Erongo Region, while the largest uranium deposit has been found near Warmbad in a mountain range along the Orange River.
According to mining experts, Namibia's uranium deposits will be depleted by about 2026.
"There is not much use of having a nuclear power station and a uranium enrichment plant, both of which would take at least ten years - until 2018 - to get up and running when eight just years later uranium mining will end," a geologist speaking on condition of anonymity told The Namibian over the weekend (The Namibian).
Sunday, March 9, 2008
Forsys Prepares for Contract Mining at Valencia
Forsys Prepares for Contract Mining at Valencia
March 10-(miningnamibia)-Forsys Metals Corporation has announced that Valencia Uranium (Pty) Ltd., a wholly-owned subsidiary of the company has entered into a Heads of Agreement with Basil Read (Pty) Ltd for the provision of mining services for the company's 100% owned Valencia Uranium Mine located in Namibia, Africa. Basil Read, based in South Africa since 1952, is a diversified construction company possessing capacity, expertise and a considerable track record in the fields of building, civil engineering, structures, roads and opencast mining. Basil Read is currently performing select contract mining services across southern Africa, including the Rio Tinto's Rossing Uranium Mine, located approximately 35 km from Valencia.
Pursuant to the Agreement, Valencia and Basil Read have entered into negotiations on the commercial terms for the provision of mining and construction services for the establishment and operation of Valencia.
Priorities at Valencia which will be addressed immediately by Basil Read and Valencia include the development of a mining plan, mining programme and a mining budget.
March 10-(miningnamibia)-Forsys Metals Corporation has announced that Valencia Uranium (Pty) Ltd., a wholly-owned subsidiary of the company has entered into a Heads of Agreement with Basil Read (Pty) Ltd for the provision of mining services for the company's 100% owned Valencia Uranium Mine located in Namibia, Africa. Basil Read, based in South Africa since 1952, is a diversified construction company possessing capacity, expertise and a considerable track record in the fields of building, civil engineering, structures, roads and opencast mining. Basil Read is currently performing select contract mining services across southern Africa, including the Rio Tinto's Rossing Uranium Mine, located approximately 35 km from Valencia.
Pursuant to the Agreement, Valencia and Basil Read have entered into negotiations on the commercial terms for the provision of mining and construction services for the establishment and operation of Valencia.
Priorities at Valencia which will be addressed immediately by Basil Read and Valencia include the development of a mining plan, mining programme and a mining budget.
Deep Yellow exploration and drilling update
Deep Yellow exploration and drilling update
March 10 (miningnamibia)-Deep Yellow Limited has issued a Namibian exploration and drilling Update. Deep Yellow Ltd (DYL) said in preliminary results from its ongoing
exploration and drilling activities being undertaken in Namibia by its wholly owned subsidiary Reptile Uranium Namibia (Pty) that latest diamond drillhole on the Tubas uraniferous magnetite intersects 229 ppm eU3O8 over 115 m from 14 m. It said RC drilling on Tumas confirms widespread uranium mineralisation outside known Falconbridge delineated areas.
Best intersection to date is 571 ppm eU3O8 over 8.7 m from surface. Diamond drilling to +400 m commenced on Tubas North alaskites. RC drilling on Tubas North continues to intersect wide alaskite hosted low grade uranium mineralisation.
Airborne electromagnetic survey which were due to begin last week: - RC drilling which commenced last week on Aussinanis and Ripnes Where eU3O8 is reported it relates to values attained from radiometrically logging boreholes with Auslog equipment using an A675 - slimline gamma ray tool. The probe has been calibrated at the Pelindaba Calibration facility in South Africa with calibration certification provided by Geotron Systems (Pty) Ltd a geophysical consultancy based in South Africa. All eU3O8 results reported are affected by issues pertaining to possible disequilibrium and uranium mobility, which should be taken into account when interpreting them pending confirmatory chemical analyses.
March 10 (miningnamibia)-Deep Yellow Limited has issued a Namibian exploration and drilling Update. Deep Yellow Ltd (DYL) said in preliminary results from its ongoing
exploration and drilling activities being undertaken in Namibia by its wholly owned subsidiary Reptile Uranium Namibia (Pty) that latest diamond drillhole on the Tubas uraniferous magnetite intersects 229 ppm eU3O8 over 115 m from 14 m. It said RC drilling on Tumas confirms widespread uranium mineralisation outside known Falconbridge delineated areas.
Best intersection to date is 571 ppm eU3O8 over 8.7 m from surface. Diamond drilling to +400 m commenced on Tubas North alaskites. RC drilling on Tubas North continues to intersect wide alaskite hosted low grade uranium mineralisation.
Airborne electromagnetic survey which were due to begin last week: - RC drilling which commenced last week on Aussinanis and Ripnes Where eU3O8 is reported it relates to values attained from radiometrically logging boreholes with Auslog equipment using an A675 - slimline gamma ray tool. The probe has been calibrated at the Pelindaba Calibration facility in South Africa with calibration certification provided by Geotron Systems (Pty) Ltd a geophysical consultancy based in South Africa. All eU3O8 results reported are affected by issues pertaining to possible disequilibrium and uranium mobility, which should be taken into account when interpreting them pending confirmatory chemical analyses.
Thursday, March 6, 2008
Uranium exports to boost Namibian economy
Uranium exports to boost Namibian economy
(Miningnamibia)-The Namibian GDP is anticipated to rise to 4.7% in 2008 on the back of expected favourable commodity prices and increased uranium production, according to the 2008/2009 national budget. Paladin Energy's Langer Heinrich mine is expected to increase production this year. The economy grew by 4.1% in 2006 and preliminary analyses project growth to have slightly declined to around 4.0% in 2007. Over the three year period, growth is projected to average 5.2 %.
The Minister of Finance Saara Kuungongelwa Amadhila said the economic outlook is, however, exposed to risks from uncertain power supply, possible reductions in demand for Namibian exports and continuing inflationary pressures. Inflation increased from 5.1% in 2006 to 6.8% in 2007, and is expected to increase further to 7.0% in 2008, driven by rising transport and food prices.
The Namibian government will allocate the power utility NamPower, 610 million Namibian dollars this year. The money will support infrastructural development for power generation and for back-up energy supply.
“The additional funds are aimed at tackling the energy crisis both in the short and long term,” said Kuungongelwa Amadhila
GDP growth is expected to decline to 4 percent in 2009, due to a decline in diamond mining. The GDP growth is expected to accelerate to 6.2 percent in 2010, when diamond mining is expected to recover.
(Miningnamibia)-The Namibian GDP is anticipated to rise to 4.7% in 2008 on the back of expected favourable commodity prices and increased uranium production, according to the 2008/2009 national budget. Paladin Energy's Langer Heinrich mine is expected to increase production this year. The economy grew by 4.1% in 2006 and preliminary analyses project growth to have slightly declined to around 4.0% in 2007. Over the three year period, growth is projected to average 5.2 %.
The Minister of Finance Saara Kuungongelwa Amadhila said the economic outlook is, however, exposed to risks from uncertain power supply, possible reductions in demand for Namibian exports and continuing inflationary pressures. Inflation increased from 5.1% in 2006 to 6.8% in 2007, and is expected to increase further to 7.0% in 2008, driven by rising transport and food prices.
The Namibian government will allocate the power utility NamPower, 610 million Namibian dollars this year. The money will support infrastructural development for power generation and for back-up energy supply.
“The additional funds are aimed at tackling the energy crisis both in the short and long term,” said Kuungongelwa Amadhila
GDP growth is expected to decline to 4 percent in 2009, due to a decline in diamond mining. The GDP growth is expected to accelerate to 6.2 percent in 2010, when diamond mining is expected to recover.
Farmers alarmed by water permit for Forsys Metal's Valencia Uraniun, The Namibian says
Farmers alarmed by water permit for Forsys Metal's Valencia Uraniun, The Namibian says
(The Namibian)-FARM OWNERS in the Valencia area in Namibia's central northwest are up in arms over Government granting Forsys Metal's Valencia Uranium project a permit to extract 1 000 cubic metres of water a day.
Seventy per cent of the Valencia project is owned by Forsys Metals, while a Namibian BEE company, Ancash Investments (chaired by Namibian entrepreneur, Zacky Nujoma), enjoys a 30 per cent share.
Forsys Metal announced on its website last month that it had received a permit for the extraction of groundwater for the Valencia Uranium Mine from the Ministry of Agriculture, Water and Forestry.
It said the permit allows it to extract up to 1 000 cubic metres of water a day - "a sufficient quantity to continue with the development of the mine".
The permit is valid for two years, during which time 730 000 cubic metres of water would be extracted.
Reliable sources told The Namibian that a farm uses less water in 36 years than Valencia intends to extract in a month.
Although it is not a commercial farming area, there is major concern about the impact Valencia's water extraction would have on the environment and wildlife - especially in an area where ground water is scarce.
The permit can be withdrawn at any time, should the ground water level approach a critical level.
Farmers and other affected parties who have aired their concerns at several public meetings on the subject are now questioning the transparency of the shareholders.
One of their concerns is the fact that the permit is valid from the date of the last meeting held in Swakopmund on February 12 this year.
At that meeting, it had not yet been disclosed to local people how much water the mine would need.
Pierre Botha of Water Sciences, who undertook the hydro-geological survey, said at the meeting that the water pumps for the mine were not ready and that the issue would again be discussed with local farmers when they were.
The permit was however already valid on the day he made these comments.
Initially, in April last year, the company was quoted as saying it would require about four cubic metres of water a day during its construction phase.
This amount has gradually increased - later it was said that the mine would need about 300 cubic metres of water a day.
Now it is allowed to pump 1 000 cubic metres a day.
The affected parties say there is no meaningful data to justify this increase in demand.
(The Namibian)-FARM OWNERS in the Valencia area in Namibia's central northwest are up in arms over Government granting Forsys Metal's Valencia Uranium project a permit to extract 1 000 cubic metres of water a day.
Seventy per cent of the Valencia project is owned by Forsys Metals, while a Namibian BEE company, Ancash Investments (chaired by Namibian entrepreneur, Zacky Nujoma), enjoys a 30 per cent share.
Forsys Metal announced on its website last month that it had received a permit for the extraction of groundwater for the Valencia Uranium Mine from the Ministry of Agriculture, Water and Forestry.
It said the permit allows it to extract up to 1 000 cubic metres of water a day - "a sufficient quantity to continue with the development of the mine".
The permit is valid for two years, during which time 730 000 cubic metres of water would be extracted.
Reliable sources told The Namibian that a farm uses less water in 36 years than Valencia intends to extract in a month.
Although it is not a commercial farming area, there is major concern about the impact Valencia's water extraction would have on the environment and wildlife - especially in an area where ground water is scarce.
The permit can be withdrawn at any time, should the ground water level approach a critical level.
Farmers and other affected parties who have aired their concerns at several public meetings on the subject are now questioning the transparency of the shareholders.
One of their concerns is the fact that the permit is valid from the date of the last meeting held in Swakopmund on February 12 this year.
At that meeting, it had not yet been disclosed to local people how much water the mine would need.
Pierre Botha of Water Sciences, who undertook the hydro-geological survey, said at the meeting that the water pumps for the mine were not ready and that the issue would again be discussed with local farmers when they were.
The permit was however already valid on the day he made these comments.
Initially, in April last year, the company was quoted as saying it would require about four cubic metres of water a day during its construction phase.
This amount has gradually increased - later it was said that the mine would need about 300 cubic metres of water a day.
Now it is allowed to pump 1 000 cubic metres a day.
The affected parties say there is no meaningful data to justify this increase in demand.
Sunday, March 2, 2008
Namibia plans to set up nuclear reactor, The Namibian says
Namibia plans to set up nuclear reactor, The Namibian says
3 March. The Namibia government has decided to opt for nuclear power generation and has approved the construction of nuclear power plants and to allow uranium enrichment on Namibian soil, despite environmental dangers such as long-term radiation from nuclear waste for over 200 000 years, storage of atomic waste and nuclear plants having a short lifespan of just 40 years before having to shut down for good, The Namibia newspaper reported on Monday.
3 March. The Namibia government has decided to opt for nuclear power generation and has approved the construction of nuclear power plants and to allow uranium enrichment on Namibian soil, despite environmental dangers such as long-term radiation from nuclear waste for over 200 000 years, storage of atomic waste and nuclear plants having a short lifespan of just 40 years before having to shut down for good, The Namibia newspaper reported on Monday.
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