nationalisation in namibia, page-17

Wipeoff, it should not delay MLS' EPL renewal. When I spoke to the company just after Xmas about BEE they confirmed that they were fully aware of the BEE requirements and had already factored it in to their EPL application. I also note that Extract Resources EPL was recently renewed within a few months of their application.

Just to highlight how entrenched BEE is already in the uranium exploration and mining landscape, in 2009, the Minister for Mining and Energy set out three new conditions to be appended to any new or renewed EPL?s, namely that:
a) any funds raised in respect of the EPL be deposited in Namibia;
b) that the EPL not be issued unless the applicant proves it has allocated shares or an interest in its project to certain previously disadvantaged Namibians (Black Economic Empowerment);
c) and that the applicant has a plan and commitment in place to empower nearby communities (Broad Based Black Empowerment ? BBEE).