Govt to speed up BEE in mining sector

THE Government is making moves to speed up the implementation of black economic empowerment (BEE) in the mining sector.

Addressing the Chamber of Mines of Namibia annual at the weekend, Mines and Energy Minister, Dr Nickey Iymabo said the Minerals Policy, approved by Cabinet in March 2003 and endorsed by parliament in November 2003, requires the industry to design and implement BEE programmes, “as a matter of urgency”. The Directorate of Mines will draw up a mining charter to facilitate the implementation of BEE in consultation with the Chamber of Mines, Iyambo said.”We need to put in place a concrete empowerment framework to ensure that Namibians, and particularly the previously disadvantaged members of our society participate fully in the economic development of the mining sector,” the Minister said.Iyambo added that such an empowerment framework had already been developed for the energy sector in Namibia.The Ministry of Mines and Energy, “has almost completed the process of amending the Minerals Act of 1992,” Iyambo said, noting the support received from the General Manager of the Chamber, John Rogers, in the process.Since the ammendments are numerous, the Ministry has decided to produce a new Minerals Bill, “so as to avoid the confusion of cross-referencing if it were an Amendment Bill,” Iyambo explained.The Minister assured foreign investors and the local mining fraternity , “that there is no cause for panic on hearing that it is a brand new Minerals Bill,” adding that the Namibian Constitution and the Foreign Investment Act of 1990 both protect foreign investors and their investments in Namibia.The Minister said that the fundamental principles had remained the same while the application and user-friendliness of the Minerals Bill had been improved.Among other developments the Minister said that due to the massive investment successfully made into the Skorpion Zinc project, “I have this week sent a letter to the International Lead and Zinc Study Group for Namibia to become a new member”.Through the group Namibia will be able to play an influencial role in the international Zinc market, he said.He said his Ministry will bear the costs of membership but called on the Skorpion Mine to actively participate in the affairs of the study group.The Minister noted that international commodities prices are improving and copper prices in particular could increase still further as, “world inventories may be depleted by the middle of the year.”He encouraged Ongopolo Mining and Processing (Pty) Ltd to produce more copper and hurry the establishment of a copper refinery in Namibia.”Increasing value addition to our minerals is also in line with the new Minerals Policy and I would urge the entire mining industry of Namibia to seriously consider investments into value addition,” he said.”The mining industry is and will continue to be the backbone of our national economy for many years to come.I have come to understand that in fact, Namibia is still under explored,” he said encouraging mining concerns in Namibia to embark on more exploration and mine expansion programmes.The Directorate of Mines will draw up a mining charter to facilitate the implementation of BEE in consultation with the Chamber of Mines, Iyambo said.”We need to put in place a concrete empowerment framework to ensure that Namibians, and particularly the previously disadvantaged members of our society participate fully in the economic development of the mining sector,” the Minister said.Iyambo added that such an empowerment framework had already been developed for the energy sector in Namibia.The Ministry of Mines and Energy, “has almost completed the process of amending the Minerals Act of 1992,” Iyambo said, noting the support received from the General Manager of the Chamber, John Rogers, in the process.Since the ammendments are numerous, the Ministry has decided to produce a new Minerals Bill, “so as to avoid the confusion of cross-referencing if it were an Amendment Bill,” Iyambo explained.The Minister assured foreign investors and the local mining fraternity , “that there is no cause for panic on hearing that it is a brand new Minerals Bill,” adding that the Namibian Constitution and the Foreign Investment Act of 1990 both protect foreign investors and their investments in Namibia.The Minister said that the fundamental principles had remained the same while the application and user-friendliness of the Minerals Bill had been improved.Among other developments the Minister said that due to the massive investment successfully made into the Skorpion Zinc project, “I have this week sent a letter to the International Lead and Zinc Study Group for Namibia to become a new member”.Through the group Namibia will be able to play an influencial role in the international Zinc market, he said.He said his Ministry will bear the costs of membership but called on the Skorpion Mine to actively participate in the affairs of the study group.The Minister noted that international commodities prices are improving and copper prices in particular could increase still further as, “world inventories may be depleted by the middle of the year.”He encouraged Ongopolo Mining and Processing (Pty) Ltd to produce more copper and hurry the establishment of a copper refinery in Namibia.”Increasing value addition to our minerals is also in line with the new Minerals Policy and I would urge the entire mining industry of Namibia to seriously consider investments into value addition,” he said.”The mining industry is and will continue to be the backbone of our national economy for many years to come.I have come to understand that in fact, Namibia is still under explored,” he said encouraging mining concerns in Namibia to embark on more exploration and mine expansion programmes.