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Namibia reassures mining investors

Namibia reassures mining investors

Namibia's government is trying to calm investors concerned about a decision to give a state company exclusive rights for exploration and mining of key minerals.
Mines and Energy Minister Isak Katali, speaking Tuesday at the opening of a Namibia Chamber of Mines meeting, said the new policy would not affect existing licenses.
Katali says property rights, including mineral rights, are protected by the constitution.
France's nuclear conglomerate Areva is constructing a mine in Namibia, and Australia's Paladin Energy, Extract Resources and Bannermann Resources are operating in the southern African country.
Chamber of Mines President Mike Leech says Japanese, South Korean, Russian, Indian and Chinese investors are eyeing Namibian mining opportunities.


Updated : 2020-12-02 16:13 GMT+08:00