Epangelo Mining receives financial boost

saara121504Epangelo Mining, received a boost from the Treasury, which allocated N$41.2 million to the Ministry of Mines and Energy’s programme for the promotion of local and foreign investment in exploration and mining activities for the 2014/15 fiscal year.

Among the expected outputs of the programme is the “issuance of mining claims, certificates and licences to ensure increased Namibian equity in mineral and energy businesses.” Epangelo Mining will receive N$11 million in the current fiscal year, as part of the N$5.3 billion granted to the mines and energy ministry over the three year period to 2016/17 and is meant “for the development of the Kudu Gas to Power Project, rural electrification and support to Epangelo Mining,” said the Minister of Finance, . The Kudu Gas project received N$500 million.