2023-05-31
Mr Purdy said the Namibian government has not raised with him the prospect of owning a minority equity interest in the Langer Heinrich project and insists the mine remains on track for first production early next year.
“Paladin has regular ongoing dialogue with all relevant Namibian government ministries as it progresses with the restart of mining activities at the Langer Heinrich Mine,” Mr Purdy said. “The company confirms that it is not aware of any imminent proposed Namibian legislative changes that would affect the ownership of the Langer Heinrich mine.”
Mr Alweendo’s comments this week appear to be in line with a March 1 statement that said the high level of foreign ownership in the Namibian mining industry was “untenable”.
“We are making a case that local ownership must start with the state, which holds ownership of our natural resources,” he said, according to Bloomberg, on Monday.
“The proposed state ownership should take the form where the state owns a minimum equity percentage in all mining companies and petroleum production, for which it does not have to pay.”
ASX-listed uranium stocks suffered on news of the resources nationalism push. Deep Yellow, run by former Paladin talisman John Borshoff, also has assets in Namibia. Mr Borshoff sought to reassure investors on Tuesday, telling the market there was no indication of moves against Deep Yellow’s three projects in Namibia.
Deep Yellow owns 100 per cent of the Tumas project, 39.5 per cent of the Nova joint venture with JOGMEC, a Japanese government agency, and 85 per cent of Yellow Dune.
Shares in Bannerman Energy, which has been trying to develop Namibia’s Etango uranium asset for more than a decade, closed 11 per cent lower to $1.11 on Wednesday.