Licence conditions Today a company called Namibia Critical Metals announced that its subsidiary (Namibia Rare Earths) was issued a mining licence by the Republic of Namibia Ministry of Mines and Energy for its Lofdal project. The project is a joint venture with Japan Oil, Gas and Metals National Corporation.
According to the press release, the licence contains certain conditions: There must be a minimum 20% representation of historically disadvantaged Namibians in the management structure, including the board of the applicant holding the licence and at least 5% of the applicant’s voting shares must be held by historically disadvantaged Namibians. The Company indicates that it has initiated the re-structuring of the management and shareholdings of its Namibian subsidiary to comply with these conditions.
Perhaps conditions such as these would help make the government of Namibia more amenable to a renewal of DSM’s copper licence.