Monday, 2 May 2016

Government to review moratorium on diamonds

Government to review moratorium on diamondsThe NAMIBIAN Mines and Energy Ministry says the suspension it placed on new diamond cutting will be reviewed soon to open doors for new companies to emerge.

Minister OBETH KANDJOZE has announced the plan at the opening of the TWO-day-long 2016 Mining Expo and Conference held in the capital, WINDHOEK.

The government, in 2011, announced a moratorium on new diamond-cutting and polishing companies to allow the existing 10 companies to grow.

The domestic diamond cutting and polishing industry had experienced a reduction in demand due to the 2008-2009 global economic crisis.

Minister KANDJOZE says the processing of the uranium moratorium is a work in progress, and all necessary efforts are being made to address the problem.

NAMIBIA suspended the issuing of the licences in 2007 after an unprecedented wave of uranium prospecting applications, raising concern over the effect prospecting and mining activities would have on the communities and environment. Read more....


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