Govt discussing 10% stake in Rössing Uranium

The government is discussing the acquisition of a 10% stake in Rössing Uranium which is up for grabs.

The stake is currently held by the Industrial Development Corporation of South Africa (IDC), which invited investors earlier this year to bid for the shareholding as part of its exit from the uranium mining company.

This was disclosed by prime minister Elijah Ngurare in the National Assembly on Tuesday, in response to a question from Popular Democratic Movement leader McHenry Venaani.

Venaani asked what the government is doing to ensure it does not miss out on these opportunities and ensure it acquires the stake for the benefit of Namibians.

“Yes, there are discussions currently going on with the Ministry of Finance, Ministry of Industries, Mines and Energy together with my office to pursue the 10% shareholding in Rossing Uranium,” Ngurare said.

He said the government only has a 4% stake in Rössing Uranium. Ngurare argued that the IDC’s stake was acquired during apartheid times and could have belonged to the Namibian government in terms of succession as per the law.

He said the government is pursuing it but should it be unable to take up the stake, it will extend it to other parties with the financial capacity.

Ngurare said the government must ensure that the country’s resources benefit all Namibians and that they reap the fruits of its resources by maximising benefits.
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