2021-03-03 12:05:41 GMT2021-03-03 20:05:41(Beijing Time) Xinhua English
WINDHOEK, March 3 (Xinhua) Namibian mineral license holders intending to transfer mineral licenses to foreign companies or entities as from April 1 can only do so if they retain a 15 percent interest in the license, Ministry of Mines and Energy announced Wednesday. In terms of the powers vested in the minister under section 47(2) (a) of the Minerals (Prospecting and Mining) Act 1992 (Act No. 33 of 1992), the minister hereby determines that as of April 1, 2021, applications submitted by Namibian license holders for the transfer of mineral licenses, or the cession or assignment of interest in a mineral license may be granted subject to the condition that 15 percent interest in the license must be retained by Namibians, the ministry said in a statement.
Fuel prices to increase on Wednesday
2021-02-01
Unfavourable international exchange rates coupled with volatile global oil prices will see Namibians paying 50 cents a litre more for both petrol and diesel as of Wednesday, 3 February. This means the new fuel prices at Walvis Bay will become N$11.85 per litre for petrol and N$11.88 per litre for diesel while prices across the rest of the country will be adjusted accordingly.
The Ministry of Mines and Energy confirmed the prices increase late last week, stating that Namibia is finding herself in a very volatile international oil market at present and that the exchange rate has not been favourable during the course of January 2021. The Namibia Dollar traded at about N$15.09 per US Dollar compared to about N$14.85 throughout December 2020.