WINDHOEK, Aug. 5 (Xinhua) -- Namibia is considering a new policy that would require 51 percent Namibian ownership in all new mining ventures, Deputy Prime Minister and Minister of Industries, Mines and Energy Natangue Ithete said Tuesday.
Speaking during a mining expo in Windhoek, Namibia's capital, Ithete said the government is consulting industry stakeholders on mechanisms to implement the proposal.
"Namibia's minerals are a national asset," Ithete said. "It is our collective responsibility to ensure that the exploitation of resources results in tangible benefits for all Namibians."
He said increasing local participation is not only a matter of social justice but also important for long-term stability and sustainability in the mining sector.
Ithete also spoke of inactive mineral licenses, saying that several licenses have been issued where no activity has commenced, and he warned against holding them for purposes unrelated to national development.
"We will not tolerate the hoarding of licenses. The ministry has already issued notices to noncompliant mineral rights holders and will soon engage them," he said.
Namibia is a leading producer of uranium and diamonds and has recently attracted global interest in its deposits of lithium and rare earth minerals. ■
