Business Briefs

AfriTin receives further results for Uis

AfriTin mining has received the second batch of assay results as part of a resource validation drilling programme at its Uis tin mine, in Namibia.

The programme was aimed at validating the historic information disclosed by SRK in 1985 and designed to support the declaration of a maiden, Joint Ore Reserves Committee-compliant mineral resource estimate on the V1 and V2 pegmatites at the mine. Significant intersections include 30.32 m at 0.20% tin and 91 ppm tantalum in drill hole V1V2008; 109.32 m at 0.17% tin and 77 ppm tantalum in drill hole V1V2010; and 53.83 m at 0.16% tin and 73 ppm tantalum in drill hole V1V20011.

The intersections indicate an increase in the thickness of the pegmatites with depth, a trend that is also reflected in the historic drill programme.

FNB Supports Fish Protection Project in Zambezi

FNB Namibia, through the FirstRand Namibia Foundation Trust has supported the Sikunga Fish Protection project in Zambezi with a total amount of N$775 000 to curb illegal fishing, over a three-year period.

The Sikunga Protection project is supported by the Sikunga Conservancy, Masubia Traditional Authority and various Tourism Enterprises. The area represents a small part of the Zambezi River where the fish stocks are protected. This is 8 km of the river and backwaters where fish are protected and allowed to breed undisturbed.

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Fifteen Fish Guards are employed on a permanent basis to control and protect the area.

“FNB, through our FirstRand Namibia Foundation Trust is committed to environmental guardianship in our country, and has over the last year, been involved in more than 14 projects, where environmental guardianship has been the focus. We want to thank the team of Sikunga Fish Protection for their hard work and for playing an active role in the guardianship of our environment, particularly in Zambezi River ecosystem”, said Allan Matengu, FNB Branch Manager, Katima Mulilo.

Mergence buys majority stake on Momentous solar

Asset manager Mergence Unlisted Investment Managers (Namibia) has bought a majority stake in the 6MW Momentous Solar One plant, near Keetmanshoop, in Namibia.

“The purchase of a majority stake in the Keetmanshoop project signals a positive trend to localisation of the industry – a solar plant owned by Namibians for Namibians,” says Mergence portfolio manager Hileni Nghinaunye.

The project stake bought from Nasdaq-listed Canadian Solar will be held in the Mergence Namibia Infrastructure Fund Trust on behalf of the Namibian Government Institutions Pension Fund (GIPF).

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Local company, MTJ Investments, has a 30% stake in the plant which has been refinanced by loans from Mergence, Nghinaunye.