Bannerman Takes Up Social Responsibility Posted on: Mon, 11 Oct 2010 06:51:22 EDT
Windhoek, Oct 11, 2010 (Namibia Economist/All Africa Global Media via COMTEX) -- Bannerman Resources has stepped up its social responsibility programme by contributing N$15 000 to the Erongo Emergency Fund. The fund was initiated by the Erongo Regional Council to assist those in need due to disasters.
Bannerman also invests in the improvement of local skills and expertise with five bursaries having been awarded already.
According to Mr Brandon Munro, general manager of Bannerman Resources, skills development, community development and job opportunities are the most visible benefits to the region.
"However," he said, "once operational, the mine will also stimulate enterprise development as our 950 employees will all need somewhere to eat, shop, live and entertain themselves. This additional economic activity would typically generate another 500 secondary jobs.
"Furthermore, Bannerman goes to great lengths to maximise the opportunities for Namibian businesses to supply our current requirements and this philosophy will extend to our mining operations."
Mr Munro acknowledged that the mine will also result in an increase in the work load for regional as well as state-owned enterprises and discussed the close working partnership that will need to exist between the mines and government.
At a recent visit by the Erongo Regional Council to the Etango Project, Bannerman Resources demonstrated that uranium exploration is an expensive business. By the time the Etango Project is in full production, expected to be 2014, Bannerman's investors will have spent more than N$5 billion in developing and constructing the mine.
The company says that N$400 million has already been spent on exploration and feasibility studies to enable it to apply for a mining licence for the project.
In his finance and administration overview to the councillors, Mr Ephraim Pekema,the financial controller of Bannerman, indicated that the company expects to spend at least N$4.5 billion on construction once a mining licence is received and a project development decision made.
On concerns raised by the councillors regarding the potential radiation impact of the mine, Mr Munro explained that the Uranium industry in Namibia is committed to the world's best practice in controlling radiation risks for both employees and the public.
He added that adhering to strict international standards was made easier by the low grades of uranium deposits in Namibia when compared to elsewhere in the world. "However" he said, "such low grades also means that profitable mining is more difficult and the efficiency of employees and production techniques is of utmost importance."
Presenting the Bannerman timeline, Mr Werner Ewald, the project co-ordinator, informed the councillors that the environmental clearance has already been received and Bannerman is working steadily towards receiving a mining licence this year. He emphasised the importance of getting investors on board to put into production a mine with a life expectancy of approximately 18 years.
With 79% of employees from previously disadvantaged background, it came as no surprise that Bannerman's Affirmative Action Policy was approved in July. Bannerman currently employs 33 personnel in Namibia, of whom 32 are Namibian citizens.
Mr Augustinus Mungunda, senior geologist, briefed the councillors on the specific geological characteristics of the Etango project. The Etango exploration area is approximately 500km ' and the envisaged open pit mine will stretch over a length of 6 km with a width varying between 500m and 1 km. Once in production the mine will produce 5 to 7 million pounds of U3O8 per year
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