Windhoek-Newly inaugurated Epangelo Mining (Pty) Ltd is on the hunt for a chief executive officer as Namibia's first state owned mining company gradually takes shape.
The Epangelo Mining board of directors was officially handed over the reins of setting up the company last December.
Board chairperson Advocate Ellaine Samson said that a CEO and key staff members would be appointed in six months time. Samson also said that by mid this year the company would have come up with an operating framework and would also be engaging stakeholders and industry peers on the way forward.
"In about six months we hope to get our house in order. By that time we would have identified the needs of this company in line with the desires of the shareholders and the general public at large," Samson told The Southern Times. Epangelo Mining is expected to spearhead government's efforts to be directly involved in the mining of the country's natural resources. This comes amid increasing calls for Namibians to take ownership of their natural resources.
The ruling party Swapo party's vocal youth wing has during the past months failed to hide its disdain for lack of locals' participation in the mining sector.
The Swapo Party Youth League (SPYL) two weeks ago urged Namibians to take ownership of their natural resources such as mineral resources, joining a chorus of Namibians who have become impatient with government's failure to craft a black economic empowerment (BEE) policy for the mining sector. Samson dodged questions on which minerals Epangelo would be interested in. "No specific minerals or mineral deposits has been identified.
In all likelihood Epangelo Mining Company would concentrate on strategic minerals," Samson said.
Prime Minister Nahas Angula last year said that uranium mining firms operating in the country should be prepared to partner with locals.
Angula hinted that Epangelo might venture into uranium mining first and use that as the springboard to spread its wings in the rest of the mining sector.
"We have a good basis for optimism and with sound business principles, the public should rest assured that this company will not become a liability," Samson said.
