Key points
- Diamond Fields International Ltd. received notification from Namibia’s Ministry of Mines and Energy that the minister intends to renew mining licence ML111 for 10 years.
- The company must complete a renewed environmental impact assessment and have an environmental management plan approved as a condition of renewal.
- At least 5 per cent of the company’s local Namibian subsidiary must be owned by Namibian persons.
- The company expects to meet these conditions by Nov. 20, 2017, with the licence reissued on or before Dec. 20, 2017.
Diamond Fields International Ltd. has received notification from the Namibian Ministry of Mines and Energy (MME) that the minister intends to renew the company’s key mining licence, ML111, for a period of 10 years. The renewal is subject to certain terms and conditions, which the company is currently working with MME to address on or before Nov. 20, 2017.
Among the conditions to licence renewal is a requirement that the company undertake a renewed environmental impact assessment and have an environmental management plan report prepared and approved. As well, the company must ensure that at least 5 per cent of its local subsidiary is under ownership of Namibian persons. The company intends to comply with these requirements on or before Nov. 20, 2017.
It is expected that the licence will be reissued on or before Dec. 20, 2017.
