Namibia Considers Taking Stakes in Mining and Petroleum Companies
- Country joins nations considering resource nationalism
- It’s also contemplating setting up a minerals exploration fund
The Rossing Uranium Mine near Arandis, Namibia.
Photographer: Wolfgang Kaehler/LightRocket/Getty ImagesThis article is for subscribers only.
Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources.
“We are making a case that local ownership must start with the state, which holds ownership of our natural resources,” Mines and Energy Minister Tom Alweendo told lawmakers on Monday. “The proposed state ownership should take the form where the state owns a minimum equity percentage in all mining companies and petroleum production, for which it does not have to pay,” he said.