YET another Canadian company has joined the scramble for uranium in Namibia.
A company from the world’s leading supplier of uranium, Pacific Bay Minerals Ltd, has set up an office in Windhoek to support it’s goal of exploring the country for the in-demand metal.This most recent expression of interest is one of many international bids to become a part of Namibia’s mining industry, joining existing mining companies Rössing Uranium and Langer Heinrich.According to a recent company statement, senior management of the Canadian resource company established a Namibian subsidiary, PBM Explorations (Namibia)(Pty)(Ltd), while visiting ‘a number of identified uranium opportunities’. While in the country, they also hired a manager to represent and negotiate on behalf of the company, and set up financial operations.International interest in Namibia’s rapidly growing uranium industry, and the foreign investment that comes with it, is expected not only to see the country through the current financial crisis, but also to boost the economy well into the future.Another Canadian company, Xemplar Energy Corporation, recently started drilling at its Cape Cross uranium project, about 20 kilometres inland from Henties Bay.ndapwa@namibian.com.na
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
