diamondepa

History

Epangelo-CGNPC-SigningA comprehensive sectoral study was conducted by the United Nations Institute for Namibia (under the auspices of the United Nations General Assembly Resolution 37/233/A-E) before Namibia’s independence. Under this study it was envisaged that Namibia would need several public enterprises in order to effect major socio-economic restructuring of the country.

Within the same study, mining was identified as the mainstay of the Namibian economy. Consequently, it was foreseen that the Government will be responsible for the rational exploitation and use of the mineral resources of the country and for the formulation of
policies and administrative rules on acquiring mining licenses, acceleration of prospecting, provisions of the relations between the Government and the mining sector and the broad conditions under which domestic and foreign financial and technical resources could be acquired.

The study recommended that a mining Parastatal organization should be established to assist the State in sectoral planning, coordination, supervision and overall implementation of the mining policy in relation to the public enterprise, joint ventures, marketing, procurement and training. This should be an umbrella organization of the affiliates within which existing and new companies should be integrated to carry out several activities, including the following:

  1. State participation in mining and mineral resource development;
  2. Preparation of feasibility studies and promotion of projects;
  3. Coordination of mineral resources and industrial development for the benefit of other ministries responsible for the manufacturing and energy industries;
  4. Advising the relevant ministries on the financing of mineral resource development;
  5. Initiating and reviewing corporate plans and annual budgets for the public enterprise and joint venture companies and monitoring their performance on a regular basis;
  6. Establishing and carrying out a manpower and training coordination programe;
  7. Coordinating job descriptions for all group companies;
  8. Coordinating and reviewing procurement and marketing policies and practices of mining companies with a view of setting up a public sector marketing enterprise; and
  9. Ensuring that policies of the Government, regarding mining and mineral resources development, within the context of the development of the national economy as a whole, are implemented.

Epangelo Mining Company is a Namibian public enterprise that was formed against the background of fulfilling Namibia’s above-mentioned mineral development objectives. Furthermore, the formation of Epangelo Mining Company came at the time of the world economic crisis, the period when diamond mining was experiencing a decline in production as well as against the backdrop of a renewed interest in uranium mining (due to the discovery of new uranium deposits in the Erongo Region).

Epangelo Mining Company places emphasis on strategic minerals such as diamonds and uranium but its mandate stretches beyond the confines of strategic minerals and involves interests in geophysical exploration of base metals, mining investment as well as beneficiation of mineral products. Though it was expected that the new Parastatal would be established immediately after
independence, this did not take place and Epangelo Mining Company (Pty) Ltd (“Epangelo Mining Company ”) was only established in 2008. It’s operations are guided and subject to the provisions of the Companies Act No., 61 of 1973, and State Owned Enterprises Governance Act and the Memorandum and the Articles of Association of the Company.

The Company was inaugurated on 3 December 2009. The company is responsible for the implementation of the Government’s mining policy with respect to the public enterprise including joint ventures, marketing, employment creation as well as training and development in mineral-related fields. The company is aiming to get involved in productive mining activities by combining the characteristics of an instrument of public policy and those of a business organization.

Epangelo Mining Company shall further endeavour to be one of the country’s or regions premier mining suites, which would have a portfolio or ‘ best –in class’ mining as well as metal deposits. Through the conduit of own exploration projects, joint ventures and acquisitions, Epangelo Mining Company shall ensure its niche in the local and/or regional mining sector.


 


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