THE latest State-owned enterprise that has arrived on the scene, Epangelo Mining Company, has set itself ambitious targets to become the most important player in the country’s mining sector and in southern Africa.
‘I am ready for the challenge and to form partnerships to bring Namibia’s [economic] development to the fore,’ the newly appointed Managing Director, Eliphas Hawala, said on Wednesday when his appointment was made public.Hawala obtained a degree as mining engineer in the US in 1994 and held a senior post at the Ministry of Mines and Energy for several years and at the Namdeb diamond company before being appointed as manager of NamGem.At the event, Mines and Energy Minister Isak Katali said back in November 2005, Cabinet had decided that Government would like to promote the export of value-added minerals to world markets and to ‘promote linkages of production and supply of mineral beneficiation.’ It was then also decided ‘to continue to support the copper refinery and second smelter initiative by engaging Government partners to add value to the products’ and for Government to enter into negotiations to facilitate the speedy establishment for manufacturing plants in order to produce copper products like copper rods, wires and cables at Walvis Bay, Katali stated.According to the company brochure made available at the launch on Wednesday, Epangelo will have ‘uranium and strategic minerals as priority’ as well as black economic empowerment (BEE).It wants to be one of the country’s and the southern African region’s ‘premier mining suites’ as ‘best in class’ to ensure its niche in the local and also in the regional mining sector.’Epangelo shall endeavour to be the largest diversified natural resources company locally’, in major commodity businesses like diamonds, copper and gold, apart from uranium.’Apart from an audit committee, the board of directors has set up remuneration and technical committees.The company will be responsible ‘for the implementation of Government’s mining policy’, training and development in ‘mineral-related fields’ and is apparently starting ‘with a financially sound cash flow statement and balance sheet.’Epangelo has received start-up capital of N$1,5 million from Government and recently another N$5 million from the Mining Ministry’s Minerals Development Fund. The five board members will receive fixed monthly salaries and they must declare their interests in other companies every 12 months. ‘The directors [must] further declare their any pecuniary or personal interest they may have in an agenda item before each meeting of the board and its committees,’ the company brochure states. The company was registered as a private company (Pty Ltd) in July 2008, but was only made public in December 2009.It promises to be ‘always honest, fair, transparent and trustworthy in everything we do’.BEE company Namibia Omatako Minerals, of which business tycoon Frans Indongo is the vice president, has shown interest in co-operating with Epangelo and the Chinese Shandong Zhengyuan Geological Exploration Institute.’The Shandong Institute is ready to meet the Namibian Government halfway in terms of job creation and scholarships,’ Namibia Omatako Minerals wrote to the Ministry of Mines recently in order to arrange a meeting. ‘The Shandong Institute belongs one hundred per cent to the China Metallurgical and Geological Bureau,’ Omatako Minerals wrote. ‘The [Shandong] institute possesses rich experience, advanced technology and sufficient funds for mining and exploration.’
