Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
White Metal Resources (TSXV: WHM), Luxury Investments One Hundred and Ninety-Two, Kalahari Copper and Newco Management Team of South Africa signed a non-binding memorandum of understanding to work together on examining small-scale production possibilities in Namibia.
In a press release, the companies explained that the areas to be examined are covered by exclusive prospecting licences controlled by White Metal and Kalahari Copper.
The Taranis property covers 19,850 ha and includes the Okohongo copper-silver deposit located within the Kaoko Belt of northwest Namibia. Altam covers about 65 km of prospective stratigraphy on the Namibian portion of the Kalahari Copper Belt
Luxury Investments, on the other hand, has been successfully running a small-scale mining operation in Namibia in close proximity to the EPLs held by White Metal and Kalahari. These operations have produced approximately 200 to 250 tonnes per month of copper concentrate in the past two years at a grade of 30% Cu.
“The parties will work in collaboration to see if the concept of small-scale mining would be effective on the Okohongo Cu-Ag deposit (White Metal) and any other prospects within the above mentioned EPLs,” the media brief states.
In parallel to these activities, Canada’s White Metal will advance other exploration campaigns in the southwestern African country as it recently received, from the Namibian Government, the required Environmental Clearance Certificates for its Taranis and Altam properties.
“I am very encouraged by the potential opportunities to develop small-scale mines within our licences and look forward to working with the group,” Michael Stares, White Metal’s interim president and CEO, said in a statement. “We are also pleased to have received the EEC clearance from the Namibian Government as we can now begin implementing our planned work programs and advance the properties.”
2 Comments
Dula Wilbard
I’m not impressed neither… Namibian majorities are not benefiting from the country resources…. Those are big fish and European things.. Just keep your things guys, we don’t want to hear, from which resources are you going to make your money from( and keep the whole money and Swapo leaders preaches)??
Festus haoseb
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