X
06:40Last update on: 13 Aug 2013
The Namibian
Tue 13 Aug 2013
SMS Of The Day * MINISTRY of Gender and Child Welfare, TEARS are rolling down as I write this SMS. The killing of women in Namibia is now like reciting a poem. Are we really getting the protection we deserve while women not being treated as part of this c Food For Thought * SO the Zimbabwe elections were free and peaceful and not free and fair? Bouquets And Brickbats * NURSES at Katutura Hospital must stop wearing those big plastic sandals at work because they are not the official working shoes. We want to see you looking smart and beautiful with your full uniform. SMS Of The Day * THIS nation is in dire need of a massive conference on housing. When we experienced a crisis in the education sector a crisis-control brain-storming conference was organised which resulted in the best deal ever for the Namibian child, nam Food For Thought * BOURGEOISIE has become a daily occupation if not the order of the day of the upper-echelons, President Hifikepunye Pohamba we urge you to revisit this unpatriotic geocentricism among your staff and the well-connected, for everybody to r Bouquets And Brickbats * COMMISSIONER of Prisons, can you please explain the strategies you use to appoint officers to certain positions? It is my observation that you are being fed with wrong information then you just promote individuals without making p SMS Of The Day * I THINK Paulus ‘The Rock’ Ambunda lost his belt because of this promoter and trainer. How can a world champion still be training at the Katutura Youth Complex where there is not enough equipment. I think they must follow the example of Ha Food For Thought * NAMIBIA Dairies are unable to match low prices of imported milk and this ultimately means the consumer will have to pay more for local milk. Look at the prices of the local chicken. All these profits are going in the pockets of a few in Bouquets And Brickbats * I AM pleased to hear that Cabinet has responded positively to the proposal of Namibia Dairies to support the industry. The restrictions which support the industry by reducing competition to ensure the survival of the industry is a SMS Of The Day * CEO’s golden handshakes. Somewhere on our statute books there must be a provision that if a board of directors suspends/dismisses a CEO without due regard to legal provision (substantive/procedural law) such board must carry the costs for Food For Thought * JACKY Asheeke was so right with her last column- why are the fathers of the dead children not being prosecuted? (Reference to the children who died in shack fires last week) Our justice system still protects men over women. In this cont Bouquets And Brickbats * ALEXACTUS Kaure, your column in Friday’s newspaper opened my eyes. One hardly finds impartial case study analysers in Namibia. Let’s not destroy the Polytechnic’s strong foundation (Tjivikua) as yet. At least wait until the transf
POLL
What do you think of the renaming and addition of regions and constituencies?
Results so far:
Older Polls
BUSINESS - COMPANIES
| 2013-08-08
Rosh Pinah, Skorpion seek common ground on zinc deposit
CHAMWE KAIRA AND LUQMAN CLOETE
ROSH PINAH Zinc Corporation, which is majority owned by the London listed trading company, Glencore and Skorpion Zinc owned by Vedanta Resources, are trying to find common ground on how they can jointly develop the Gergarub zinc deposits. The Gergarub lies close to the mines, which are adjacent to each other.
The Namibian was informed by sources close to the talks on the Gergarub that the two companies are trying to interpret the terms of an agreement signed in 2005 by the previous owners of the mines, Exxaro and Anglo American.
Exxaro sold its shareholding in Rosh Pinah to Glencore last year. Local company, PE Minerals is the other shareholder.
In 2010 Vedanta Resources completed the acquisition of the Skorpion Zinc Mine from Anglo American plc.
The Namibian understands that the mines, which are now under new owners are trying to resuscitate the 2005 agreement by their previous owners before they can jointly develop the project. The differences are also compounded by the fact that Skorpion mines zinc sulphide in an open pit mine while Rosh Pinah mines zinc oxide in an underground mine.
“How the two mines will prospect at the Gergarub deposit is another taking point,” a source said in an interview who preferred not to be mentioned.
The source the two mines will decide in 2014 whether they will jointly develop the project.
“They have to decide on the structure of the joint venture, the percentages involved. Basically, it would take about four years to start mining,” said the source.
Another source said “dispute” over the Gergarub centres around who has the right for the off-take of the deposits found near Rosh Pinah.
In 2005, the parties entered into 51% for Skorpion and for 49% for Rosh Pinah joint venture partnership, and also agreed to share the drilling cost based on the shares each party owned.
Other sources said Rosh Pinah was the first to drill at the site where the deposit was found. It apparently only drilled one metre deep and had abandoned the drilling. Skorpion Zinc is aid to have found the deposit after it had drilled two metres down in the same area where Rosh Pinah had abandoned the drilling.
Sources said Skorpion now claims that it discovered the deposit, and plans to upgrade its refinery at a cost running into billions of dollars to process both sulphide and oxide zinc. But Rosh Pinah claims that according to the joint venture agreement, it has the right for sulphide zinc and therefore should set up a its own refinery. Construction work at the new Gergarub mining project, which lifespan is estimated at 11 years, is expected to start within two years following the completion of a feasibility study.
Attempts to get a comment from Skorpion Zinc General Manager, Satish Kumar failed as he did not respond to an emails sent to him. Koen Wium, a board member for the PE Minerals declined to comment saying the parties were bound by a confidentiality agreement.
ROSH PINAH Zinc Corporation, which is majority owned by the London listed trading company, Glencore and Skorpion Zinc owned by Vedanta Resources, are trying to find common ground on how they can jointly develop the Gergarub zinc deposits. The Gergarub lies close to the mines, which are adjacent to each other.
The Namibian was informed by sources close to the talks on the Gergarub that the two companies are trying to interpret the terms of an agreement signed in 2005 by the previous owners of the mines, Exxaro and Anglo American.
Exxaro sold its shareholding in Rosh Pinah to Glencore last year. Local company, PE Minerals is the other shareholder.
In 2010 Vedanta Resources completed the acquisition of the Skorpion Zinc Mine from Anglo American plc.
The Namibian understands that the mines, which are now under new owners are trying to resuscitate the 2005 agreement by their previous owners before they can jointly develop the project. The differences are also compounded by the fact that Skorpion mines zinc sulphide in an open pit mine while Rosh Pinah mines zinc oxide in an underground mine.
“How the two mines will prospect at the Gergarub deposit is another taking point,” a source said in an interview who preferred not to be mentioned.
The source the two mines will decide in 2014 whether they will jointly develop the project.
“They have to decide on the structure of the joint venture, the percentages involved. Basically, it would take about four years to start mining,” said the source.
Another source said “dispute” over the Gergarub centres around who has the right for the off-take of the deposits found near Rosh Pinah.
In 2005, the parties entered into 51% for Skorpion and for 49% for Rosh Pinah joint venture partnership, and also agreed to share the drilling cost based on the shares each party owned.
Other sources said Rosh Pinah was the first to drill at the site where the deposit was found. It apparently only drilled one metre deep and had abandoned the drilling. Skorpion Zinc is aid to have found the deposit after it had drilled two metres down in the same area where Rosh Pinah had abandoned the drilling.
Sources said Skorpion now claims that it discovered the deposit, and plans to upgrade its refinery at a cost running into billions of dollars to process both sulphide and oxide zinc. But Rosh Pinah claims that according to the joint venture agreement, it has the right for sulphide zinc and therefore should set up a its own refinery. Construction work at the new Gergarub mining project, which lifespan is estimated at 11 years, is expected to start within two years following the completion of a feasibility study.
Attempts to get a comment from Skorpion Zinc General Manager, Satish Kumar failed as he did not respond to an emails sent to him. Koen Wium, a board member for the PE Minerals declined to comment saying the parties were bound by a confidentiality agreement.
Comment on this article
Latest comments
Total article comments: 1
www.weatherphotos.co.za
Windhoek
7°
24°
0mm
Walvis Bay
8°
22°
0mm
Oshakati
8°
31°
0mm
Keetmanshoop
1°
17°
0mm
Grootfontein
2°
27°
0mm
Gobabis
5°
24°
0mm
(August 12)
View more ...