I cant see any problem. All the Namibians are saying is: "If we can help we want to help." . . .
The Minister has overnight Australian time issued a Media Statement which seeks to clarify further details of the proposed mineral policy changes.
No Impact on Ownership of Existing Licences.
As set out in the Media Statement, ownership of existing exploration licences will not be affected by the proposed mineral policy changes.
In addition, the Media Statement confirms that existing mining licence applications will be considered under the existing procedures on their own merit and without prejudice. The Minister has commented in the Media Statement that the ultimate conditions of a mining licence might require the holder to approach the Namibian Government first regarding investment opportunities for development of the mining licence before approaching other parties.
Bannerman submitted a mining licence application for the Etango Uranium Project in December 2009 and has been liaising with the Namibian Ministry of Mines and Energy regarding the grant of the mining licence since that time.
Bannerman's CEO, Len Jubber, said "Bannerman understands the importance of the mining industry to the people of Namibia, and welcomes the Namibian Government's objective of investing in new mineral project developments."
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