Scraping of black ownership rules for mining exploration licences
Namibia scrapped in October 2018 a requirement for companies seeking mining exploration licences to be partly owned and managed by black Namibians. The policy was introduced in 2015 to increase the participation of historically disadvantaged black Namibians. Under the scrapped policy, the management structure of a company applying for an exploration licence was required to have a minimum 20 percent representation of black Namibians. At least 5 percent of the company also had to be owned by Namibians or by a company wholly-owned by Namibians.
Type: Entry and establishment (Ownership and control)
Industry: Primary (Mining and quarrying)
- The Economist Intelligence Unit, Empowerment criteria scrapped for mining exploration, Nov 06, 2018
- Reuters, Namibia scraps black ownership rules for mining exploration licences, Oct 26, 2018