Epangelo to land 'strategic minerals' soon

WINDHOEK ELVIS MURARANGANDA

Government has indicated that the long-awaited strategic mineral policy - which will grant all newly-discovered key minerals in the hands of its mining company, Epangelo - is in its final stages of completion.
Mines and Energy Minister Isak Katali told Namibian Sun that Cabinet has already approved the policy, which was then forwarded to the Attorney General for legal input before implementation.
The policy declares diamond, uranium, copper, gold, zinc and coal as strategic minerals.
Epangelo Mining is a Namibian public enterprise that was formed against the background of fulfilling the country's mineral development objectives.
The company also buy shares in the mining companies and invest money in mining exploration.
The new policy will award Epangelo full participation and exclusive exploration and mining of these minerals in view of giving Namibian citizens an opportunity to fully reap the benefits.
On the progress of the policy document Katali said: The document is now with the Attorney General's office because there are some regulations which needed to be changed.
Attorney General and Minister of Presidential Affairs Dr Albert Kawana confirmed that the policy was in its final stages and that it will be fully drafted before end of year.
It is not only a case of implementing the law, he said.
We need to attend to some legislation in consultation with the client (Ministry of Mines and Energy), but I can confidently say it will be ready during the course of this year, Kawana informed this paper.
He added that his office deals with advising ministries and agencies on legal and constitutional issues with regard to new laws and the Ministry of Justice is the legal drafter while in this case Katali's office will be the custodian of the policy.
The client is entrusted with the implementation of the policy with regard to already existing laws, such the Minerals Act and the Diamond Act, charged Kawana.
Epangelo is expected to take up more than seven small- scale mining sites following consecutive feasibility studies from 2009 to 2011, all indicating technical feasibility.
The Chamber of Mines of Namibia initially slammed the idea of strategic minerals being solely handed to Epangelo, saying it will drastically alter the ability of junior mining companies to rise the substantial funding required on capital markets.
Its Chief Executive Office Veston Malango refused to comment on the latest development at this juncture, saying they will wait for the final product and make their position know then.
Epangelo was only established in 2008, despite initial plans to start it right after Namibia's independence in 1990.