15% stake in new mines reserved for Namibians
01 Apr 2021
From 1 April 2021, all applications for a mining licence in Namibia must have 15% local owners. According to the Ministry all “applications by Namibian nationals for the transfer, cessation and assignment of mineral licences to foreign companies or persons may be granted provided 15% interest in the company is retained locally”. The Ministry also announced that the suspension on accepting and processing of new applications for retail and wholesale petroleum licences has now been lifted.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Primary (Mining and quarrying)
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Sources:
