Mines and Energy Minister Tom Alweendo has reiterated that mineral Exclusive Prospecting Licences (EPLs) should only be awarded to those with the ability and means to explore.
“We need to move opportunities of economic potential to execution. We can no longer afford to sit for decades on EPLs. If you do not have the means or the capital to develop EPLs, let us find the people who have the means,” Alweendo noted.
The minister was speaking on Friday during the commissioning of the MV Benguela Gem, one of Debmarine’s diamond exploration vessels which arrived at the Walvis Bay port.
He added that the world is moving forward so rapidly and potential minerals that are used and can make an economic return, may not be in demand in the next few years, thus it is vital to develop EPLs as soon as possible so that the country can benefit from the economic spinoffs that come from their development.
“Diamonds have always been a pivotal part of our economy, we legislate them differently from other minerals, because they are different. The one thing we cannot afford is for any negative activities to taint the image of this precious gift.”
At the same event, Debmarine Namibia Chief Financial officer (CFO) Willy Mertens said Debmarine has over the years been at the forefront of technological developments in the diamond recovery sub-sector.
“The commissioning of the MV Benguela Gem is an important milestone which reinforces our belief in the sustainable utilisation of our natural resources for the benefit of all our people,” Mertens stated.
According to him, Debmarine Namibia’s 2021 production remained on par with 2020 at 1.1 million carats due to production suspension in response to lower demand caused by the COVID-19 pandemic.
Revenue however increased by 9 per cent to N.dollars 7.2 billion, which was mainly driven by improved market and trading conditions.
The company’s earnings before interest tax, depreciation and amortisation decreased by 8 per cent to N.dollars 2.5 billion due to increased maintenance of the fleet and inflationary pressures.
The CFO added that Debmarine’s capital expenditure of close to N.dollars 6 billion in the past three years, reflects its confidence in the industry.
Source: The Namibian Press Agency