namibian renewel rights as legislation, page-2

Look at this part of the legislation as it pertains to the currrent situation!!!!...I dont know why people cant see this...or are u guys just plainly blind??

"Applications for renewal of exclusive prospecting licences.

(1) Subject to the provisions of subsection (2) of this section, the provisions of section 68 shall apply mutatis mutandis in relation to an application for the renewal of an exclusive prospecting licence.

(2) An application for the renewal of an exclusive prospecting licence shall -

(a) be made not later than 90 days before the date on which such licence will expire if it is not renewed or such later date, but not later than such expiry date, as the Minister may on good cause shown allow;

(b) not be made -

(i) in the case of a first application for the renewal of such licence, in respect of any land greater in extent than 75 per cent of the prospecting area in respect of which such licence has been issued; or



(ii) in the case of any other application for the renewal of such licence, in respect of any land greater in extent than 50 per cent of the prospecting area citing at the date of such application,

without the approval of the Minister, granted in the interest of the development of the mineral resources of Namibia and on good cause shown by the holder of the exclusive prospecting licence in question; and

(c) be accompanied by a report in duplicate containing the particulars contemplated in section 76(1)(e) prepared in respect of the immediately preceding period of the currency of such exclusive prospecting licence.

(3) Subject to the provisions of subsection (1), the Minister shall not grant an application for the renewal of an exclusive prospecting licence, unless the Minister is on
reasonable grounds satisfied with the manner in which the programme of prospecting operations have been carried on or the expenditure expended in respect of such operation,

(4) The Minister shall not refuse to grant an application for the renewal of an exclusive prospecting licence -

(a) if the holder of such licence -

(i) has complied with all the terms and conditions of such licence;

(ii) has complied with the proposed programme of prospecting operations; and

(iii)has expended the expenditure in respect of such operations as in accordance with the terms of such mineral agreement;

(b) if the Minister is on reasonable grounds satisfied -

(i) with the proposed programme of prospecting operations or the proposed expenditure to be expended in respect of such operations;



(ii) that the person concerned has the technical and financial resources to carry on such prospecting operations;

(c) on the grounds thereof that such holder has contravened or failed to comply with any provision of this Act or any term and condition of such licence, unless the Minister has by notice in writing informed such holder of his or her intention to so refuse such application -

(i) setting out particulars of the contravention or failure in question; and

(ii) requiring such holder to make representations to the Minister in relation to such contravention or failure or to remedy such contravention or failure on or before a date specified in such notice,

and such holder has failed to so remedy such contravention or failure or make representations"

As far as I can see the Namibian Governement cant refuse RTM a renewel of the license unless RTM has contravined the conditions of the license and then it has to be in writing and addressed to the company , which I dont think it has done......so I think its a no brainer....Namibia have to be seen as a stable place to invest and their laws which are well drafted need to be seen as laws which all people or entities can rely on.....the wording of the legisaltion is very clear and I cant see any reason why the license cannot be renewed...I am with the directors on thier belief


zakka