1

ANNUAL

2018 2018 2018REVIEW ANNUAL REVIEW

Chamber of Mines of namibia VISION, MISSION & CORE VALUES

N O I NDUSTR S G I Y AMBER OF I IN CH M IN E IN V TH E M R S E O H F T N R IO S O To be widely respected I To be acknowledged as F V as a safe, environmentally the champion of the

N O

I responsible, globally exploration and mining S

I competitive and meaningful industry in Namibia. V contributor to the long term prosperity of Namibia. VISION, MISSION & CORE VALUES

CORE VALUES MISSION INTEGRITY To effectively promote, encourage, protect, foster and contribute to the growth of responsible exploration TRANSPARENCY and mining in Namibia to the benefit of the country and all stakeholders. ACCOUNTABILITY

COMPLIANCE TABLE OF CONTENTS

TABLE OF Contents Inside front cover 1 Vision, mission and core values Mines in Namibia

02–05 Structure of the Chamber of Mines of Namibia i. Council Members ii. Executive Committee Mining6-7 Industry iii. Chamber of Mines Team Snapshot for 2018

8-9 10–11 Letter from CEO’s the President Foreword

Activities12-21 of the Chamber of Mines in 2018 Operating22-25 Environment i. Health and Safety i. Global and local developments ii. Policy, Legislation and Infrastructure ii. Mining industry performance in 2018 iii. Activities of Chamber Committees and iii. Highlights of Minning in Namibia Sub-Committees iv. Stakeholder Engagement

26–68 Review of Companies in 2018 i. Operating Companies 69–85 ii. Development Companies Annexures iii. Exploration Companies i. Key Statistics ii. Chamber Committees and Members iii. References cover image Otjikoto pit at B2Gold Namibia’s Otjikoto gold mine iv. Abbreviations © 2018 B2Gold Namibia inside front cover image Aerial view of the Salt & Chemicals operation in Walvis Bay © 2018 Walvis Bay Salt Holdings design and layout Turipamwe Design • www.turipamwedesign.com printers John Meinert Printers 1 CoM Annual Review 2018 KATIMA MULILO MINES IN NAMIBIAMINES IN MINES IN NAMIBIA Tschudi Ohorongo Otjikoto Okanjande Graphite Otjozondu Navachab Desert Lion Rössing The Salt Company Husab Salt Chemicals & Langer Heinrich Matchless Otjihase Northern Mines Namdeb Coastal Debmarine Namibia Skorpion Zinc Pinah CorporationRosh Mines Coastal Southern Namdeb Namdeb Orange Mines River Mine African Tantalum Namib Lead and Zinc Mine TinUis Mine

LEGEND 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. RUNDU GOBABIS KARASBURG 21 STEINHAUSEN LEONARDVILLE GRÜNAU TSUMEB MARIENTAL 5 KOMBAT 1 NOORDOEWER OKAKARARA 2 KEETMANSHOOP 3 WINDHOEK REHOBOTH 13 OKAHANDJA KALKRAND 14 ROSH PINAH ROSH 18 OTAVI 20 OUTJO BETHANIEN 17 OTIWARONGO KALKFELD MALTAHÖHE 4 ONDANGWA 24 19 OMARURU KARIBIB 7 23 6 16 12 OSHAKATI 15 8 10 ORANJEMUND KAMANJAB 23 KHORIXAS 22 UIS USAKOS 9 11 LÜDERITZ OPUWO WALVIS BAY WALVIS N HENTIES BAY HENTIES SWAKOPMUND J. Sisay C. Horn M. Dawe B2Gold Namibia (Pty) Ltd. Rosh Pinah Zinc Corporation Zinc Pinah Rosh Weatherly Mining Namibia Ltd. Namibia Mining Weatherly QKR Namibia QKR Rössing Uranium Rössing Z. Kasete PRESIDENT R. Storrie R. G. Botshiwe L. Davies Alternate Member Alternate L. Davies B. Tsauses, Alternate Member Tsauses, B. Dundee Precious Metals Tsumeb Metals Precious Dundee C. Movirongo, Alternate Member Member Alternate Movirongo, C.

STRUCTURE OF THE AS AT 31 DECEMBER 2018 DECEMBER 31 AS AT Orano Burger . R Namdeb Holdings Namdeb H. Mbako A. Snyman VICE PRESIDENT VICE Salt & Chemicals (Pty) Ltd. B. Britz, B. Member Alternate ST S. Mueller, Alternate Member Mueller, S. 1 – Council of the Chamber of Mines – Mines of Chamber the of – Council Y. Cai J. Roux Skorpion Zinc I. Simataa VICE PRESIDENT VICE Swakop Uranium (Pty) Ltd. A. Member Alternate Kalili, ND Langer Heinrich Uranium Ltd. Uranium Langer Heinrich 2 STRUCTURE OF THE CHAMBER OF MINES OF NAMIBIA

2 CoM Annual Review 2018 3 CoM Annual Review 2018 S. Galloway HONORARY LIFE MEMBER HONORARY LIFE Z. Xigang Zhonghe Resources Zhonghe R. Schommarz E. Nakala, Alternate Member Alternate E. Nakala,

Afritin Mining Namibia (Pty) Ltd.Afritin (Pty) Namibia Mining EX OFFICIO V. Malango V. Chamber of Mines of Namibia of Mines of Chamber H.W. Schütte H.W. A. //Gowaseb Z. STRUCTURE OF THE CHAMBER OF MINES OF NAMIBIA Whale Rock Cement (Pty) Ltd. Cement (Pty) Rock Whale E. Alberts, Member Alternate OHORONGO Cement (Pty) Ltd. (Pty) Cement OHORONGO S. Januarie Imerys Graphite and CarbonImerys and Graphite CO–OPTED MEMBER J. Borshoff D. Kullmann D.

Namib Lead and Zinc Mining (Pty) Ltd. Reptile Mineral Resources and Exploration and Resources Mineral Reptile V. Petzel CHAIRPERSON, CHAIRPERSON, B2Gold Namibia (Pty) Ltd. EXPLORATION COMMITTEEEXPLORATION M. Tjipita W.Ewald B. Munro, Alternate Member Alternate Munro, B. Bannerman Mining Resources Namibia Resources Mining Bannerman Imerys Gecko Holdings Namibia (Pty) Ltd. E. Mueller E.

CO–OPTED MEMBER (DECEASED 15.04.2019) (DECEASED Namibian Institute of Mining and Technology and Mining of Institute Namibian Skorpion Zinc Skorpion Irvinne Simataa SECOND VICE PRESIDENT VICE SECOND PRESIDENT Zebra Kasete Veston Malango Veston Chamber of Mines of Namibia Dundee Metals Precious Tsumeb CHIEFEXECUTIVE OFFICER STRUCTURE OF THE Hilifa Mbako AREVA Resources Namibia Resources AREVA FIRST VICE PRESIDENT VICE FIRST – Chamber of Mines Executive Committee – Committee Executive Mines of – Chamber STRUCTURE OF THE CHAMBER OF MINES OF NAMIBIA

4 CoM Annual Review 2018 5 CoM Annual Review 2018 HR ADMINISTRATOR HR Signa K. Ndombo CARETAKER CARETAKER Junias Nahambo

STRUCTURE OF THE CHAMBER OF MINES OF NAMIBIA

TO CEO ECONOMIST Doreen Meyer Lauren Davidson Veston Malango Veston PERSONAL ASSISTANT ASSISTANT PERSONAL CHIEF EXECUTIVE OFFICER STRUCTURE OF THE – Chamber of Mines Team – Team Mines of – Chamber Drieka M. Skrywer INSTITUTIONAL WORKER INSTITUTIONAL ACCOUNTANT Hilma T. Nampala Hilma T.

ROYALTIES PAID ROYALTIES (115.3 million 2017) in TOTAL TAXESTOTAL PAID (N$1.56 billion 2017) in (N$3.81 billion 2017) in N$3.986 billionN$3.986 N$2.063 billionN$2.063 N$214.6 million EXPORT LEVIES PAID in October 2018, Hon. Tom Alweendo, Hon. Tom for Exploration Licences investment in exploration. Minister Mines of Energy, removing a major barrier to 2018 reversed Additional Conditions SPEND ON CORPORATE SOCIAL SOCIAL CORPORATE ON SPEND RESPONSIBILITY ENTIRE THE BY INDUSTRY*MINING N$73.1 million operations, development mining (Includes and exploration companies) exploration and in

2018

for Zinc 65.38

Zn 30 Zinc mine Zinc Lead Namib Lead and 207.2 Pb North River Resources 82 activities re-open to the began with construction SPEND ON SKILLS DEVELOPMENT SKILLS ON SPEND BY THE ENTIRE MINING INDUSTRY* N$147.8 million N$147.8 operations, development mining (Includes and exploration companies) exploration and highlights *Spending by operating, development and exploration companies exploration and development operating, by *Spending

industry performance

Mining industry recorded a growth of 22% in 2018 which was was which 2018 22% in of a growth recorded industry Mining

the strongest performing sector and one of the few to record growth record to few the of one and sector performing strongest the Tin 118.711 commenced Sn 50 Uis tin mine

AfriTin

with a phased approach to redevelopto the the old

CORPORATE TAX PAID WAGES AND SALARIES AND WAGES EXPLORATION* TURNOVER N$573.3 million (N$562.1 million 2017) in billion N$1.708 billion 2017)(N$$2.13 in (N$29.29 in 2017 Swakop Uranium) excl. N$6.090 billion (N$5.61 billion 2017) in N$33.545 billion

9,042 permanent individuals 9,042 temporary employees 498 6,681 contractors

• • • MINING INDUSTRY CHAMBER MEMBERS DIRECTLY EMPLOYED DIRECTLY MINING INDUSTRY SNAPSHOT: HIGHLIGHTS & PERFORMANCE & HIGHLIGHTS SNAPSHOT: INDUSTRY MINING

(2017: 9,643 permanent individuals, 9,643 (2017: temporary and 906 employees, contractors) 6,424 Snapshot

6 CoM Annual Review 2018 7 CoM Annual Review 2018 573 '18 '17 562 528 '16 490 '15 625 Mining contribution to GDP '14 662 '13 '12 815 '11 14% 752

'10

EXPORT 758 EXPORT

'09 MINERAL MINERAL NON–MINERAL 677 GDP '08 605 54 ‘17 46 '07 MINING INDUSTRY SNAPSHOT: HIGHLIGHTS & PERFORMANCE & HIGHLIGHTS SNAPSHOT: INDUSTRY MINING ‘16 53 47 540 '06 ‘15 51 49 482 '05 ‘14 53 47 477 ‘13 '04 54 46 472 ‘12 54 46 '03 ‘11 54 46 264 '02 146 ‘10 55 45 '01 52 249 48 ‘09 00 ' 57 13.3% 43 ‘08 167 IN 2017 '99 56 44 ‘07 growth of the the of growth 175 60 40 ‘06 '98 124 51 49 ‘05 '97 112 52 48 ‘04 mining industry mining 22% '96 60 ‘03 40 237 Source: Namibia Statistics Agency and Chamber of Mines of Namibia '95 54 46 ‘02 MINING SHARE OF EXPORTS Source: Namibia Statistics Agency 190 EXPLORATION EXPENDITUREEXPLORATION and th

he year 2018 marked my first year in office as President of the Chamber of Chamber the of President as office in year first my marked 2018 year he learned fully I have which in discovery of a year been has It Namibia. of Mines the in play to continues it role a vital what and organisation the of workings the April 2018, the Chamber of Mines continued to actively engage stakeholders at at stakeholders engage actively to continued Mines of the Chamber April 2018, th THE PRESIDENT Namibian mining sector. The Chamber of Mines is most certainly a versatile and small small and a versatile certainly most is Mines of Chamber The sector. mining Namibian very a individuals, seven mere of a its staffcompliment through and organisation, the sub-committees, dedicated and involved Council, and Committee Executive active by faced challenges joint to responded successfully again and time has organisation industryneeds. specific and industry another yet 2019, May, 7th on held the AGM I reported at that regret with great is It The Review. Annual this in follow which of the details sector, the mining in lost life the auspices under and many,’ too one is injury ‘one the of motto by guided industry is we mines, to missions Safety its Mines Committee review and peer of the Chamber of where environment, working safe and a fatality-free creating strive towards to continue HARM. ZERO of the goal towards aim we the 25 on held Expo & Conference the very Mining from successful Aside 26 Letter from all levels on industry developments and performance, the importance of mining to to mining the importance of performance, and industry on developments levels all socio-economic development and onNamibia’s policy related matters. further To increased ofan space, in the Chamber theand the public prominence elevate profile timeous for allowed has website own our indeed and media social on presence online and the local by accessible openly is which industry developments crucial of reporting international communities. engaged regularly the Chamber and Government, is stakeholders crucial these Among a number of Government organisations on mining industry developments and on policy proved has titled a partnership, been has years recent in which relationship matters. This to them enabling the sector, on well-versed are makers policy that ensuring vital in the mining of evolution a sustainable for conducive is that legislation and craft policies it benefits from derive to continue Namibians that ensuring while Namibia, industry in come. to generations for T LETTER FROM THE PRESIDENT

8 CoM Annual Review 2018 9 CoM Annual Review 2018 LETTER FROM THE PRESIDENT May 2019. th “The primary focus of the the of “The focus primary going Mines of Chamber how on be thus will forward to boost exploration activity in Namibia and enable the discovery of new mineral to lead may which deposits mines.” new of opening the and 9 th Anniversary and Golden Jubilee. This special occasion will be hallmarked be hallmarked will occasion special This Jubilee. Anniversary Golden and th Z. KASETE at the Mining Expo and Conference on 8 on Conference Expo and the Mining at The Annual Review, which has become a credible and accurate source of information information of source accurate and a credible become has which Review, The Annual and Government by after publication sought a much is industry, mining Namibia’s on media and public general the organisations, non-profit and private institutions, education contains The publication corps. diplomatic networks and mining international as well as and successes highlights, 2018, in activities the Chamber’s on important information challenges, not to mention detailed financialinformation and insights from member the perusing enjoy will I trust you companies. exploration and development operations, Review. 2018 Looking forward, the year 2019 is a momentous time for the Chamber of Mines, which which Mines, of the Chamber for time a momentous is 2019 the year forward, Looking itsmarks 50 It is without a doubt that our national economy is in dire straits, and officially in a straits, officially and dire in is economy national our that a doubt without is It the few of one been has mining two the last years, for and the onset, At recession. and 2017 in GDP in the contractions dampening growth rates, positive record sectors to as optimistic less appears Namibia in mining for outlook the longer-term However, 2018. the next in mines of life their of the end be reaching will mines prominent of a number be thus will forward going Mines of the Chamber of The primary focus years. two ten to mineral new of the discovery enable and activity Namibia in exploration boost to how on withand MME work to want We mines. new of the opening to lead may which deposits interventions. policy Government of the focus as exploration target President the of Chamber Mines of 7 May 2019

he year 2018 was another busy year for the Chamber of Mines, which marked marked which Mines, of Chamber the for year busy another was 2018 year he commendable achievements, and challenges, that embraced were with vigour in Regrettably, sector. the of growth sustainable effortsensure to continuous our the industry suffered a considerable number of job losses in 2018 due to a sharp sharp to a due 2018 in losses job of number considerable a suffered industry the low a pro-longed lithium, particularly battery of minerals, prices the in reduction at some mines. price and challenges operational uranium characteristically are companies mining that time, to time from be reminded to needs It which prices, commodity mineral control to unable are they means This price-takers. that levels to drop prices commodity when As such, forces. market by determined are review first will companies mining operation, an of profitability the long-term jeopardise and implement options to reduce costs with the suspension of operations considered Uis AfriTin’s of development and the reopening situation, resort.last a Namibia’s as In the as well as Resources North by River mine Zinc and Lead the Namib and mine tin of activities mining planned their and plant Cement Rock the Whale of construction workers. the affected of some reabsorb to helped have limestone, the strongest was mining Product, Domestic Gross to its of contribution terms In 22% of 2018. in growth rate, a positive post to the few of one and sector performing a contraction recorded which economy, national the depressed buoy to helped This of forefront At the Accounts. National in the figures preliminary to according 0.1% of the Swakop at activities up ramping from output uranium in a boost growth was this is which a mineral diamonds, of output increased as well as mine, Husab Uranium’s Accounts. the National in others to compared weighting the largest assigned Conditions Additional of the reversal was 2018 of outcomes for the long-fought of One into investments new hindered severely which companies, exploration for Licences to The boom. commodities a mineral was there which during a period in exploration the while stage and the exploration at practical not simply were Conditions Additional the be ascertained, cannot exploration into investments deferred of number actual T CEO’S Foreword CEO’S FOREWORD economy...” the depressed national 2018. This helped to buoy buoy to helped This 2018. growth rate, of 22% of in rate, growth of the few to post a positive a positive post to few the of performing sector and one one and sector performing “...mining was the strongest“...mining

10 CoM Annual Review 2018 11 CoM Annual Review 2018 CEO’S FOREWORD “Polices are thus needed to transform transform to needed thus are “Polices a to industry a ‘sunset’ from sector the industry.” ‘sunrise’ Veston MalangoVeston the of CEO Chamber Mines of 7 May 2019 general decline in Namibia’s attractiveness as an investment destination into mining mining into destination investment attractiveness an as Namibia’s in decline general jurisdictions. other in deployed were exploration for funds capital that indicates circumstance present our in especially the industry, by welcome most is The reversal mine, of life their of the end reach soon will operations major Namibia’s of many where of sustainability ensure to way the only is exploration into investment increased and mines. new of opening eventually and deposits new of discovery and mines current rattled tax was with the new proposals sentiment investor achievement, this Despite certain of sections change to proposes that 2018 Bill Amendment Tax the Income in impede would the amendments of consequences Act. The unintended Tax the Income expansion and reinvestments by existing mines and most certainly thwart development Equitable the New when regarding prevalent also Uncertainty projects. is new any of Economic Empowerment Framework/Bill (NEEEF) and the Namibia Investment implemented. and be finalised will Act (NIPA) Promotion is industry which growth, support sustainable uncertainty not does The continued Instead, environment. economic depressed Namibia’s of lieu in needed desperately industry to ‘sunset’ a perceived from the sector transform to needed are policies new for the way can pave exploration into investment whereby industry, a ‘sunrise’ the in dawn a new enabling be developed, to mines new and be discovered to deposits mining industry.era of Namibia’s Mines the Ministry of Ministry, with its line closely work to continues The Chamber This growth. new foster to and exploration into investments enable to Energy, and to continues the years, over therein the trust built and withpartnership Government, carry will it through us hopeful are we and successes, our of the cornerstone underpin in trying times. 5 4 3 2 1 0 1 2018 58 42 2 2017 85 48 2 2016 78 47 1 2015 80 0 50 2014 2 103 65 2013 Non-Member 88 5 2012 3 87 2011 35 0 CoM Member | 2010 TOTAL NUMBERTOTAL OF FATALITIES PER ANNUM 48 40 61

83 44 50 Disabling Injuries 44

| 68

38

Lost Day Injuries Day Lost

Although the safety performance of indicators the overall an showed members Mines of Chamber the industryimprovement, mining regrettably A heavy year. the for fatality one recorded truck haul his of control lost operator equipment Mine Uranium Husab the into down driving while the of wall high the against crashed and pit open injuries his to succumbed operator the Sadly pit. 2018. 29 the on October away passed and Mining Safety Overview TOTAL NUMBERTOTAL OF INJURIES LOST DAY AND DISABLINGAND INJURIES NOTE Lost Day Injury Person cannot return to work Disabling Injury Worker can return to work but not perform normal duties Activities the Mines Chamber of in of 2018

12 CoM Annual Review 2018 13 CoM Annual Review 2018 1.57 2018 1.14 2.32 2017 1.31 2.39 2016 1.42 2.37 2015 1.48 2014 2.26 3.58 2013 2.92 2012 2.57 2011 1.08 The Chamber of Mines Safety Committee continued with its Safety Mines Committee continued of The Chamber the visited the committee and meetings, review peer quarterly Resources Bannerman Mine, Trekkopje Orano sites: following processing and mine Cement Ohorongo site, exploration facility and also visited aBusiness Komatsu Partner, Namibia. safety and review the peer other, each from learning Besides the in concern mutual of issues address to aim meetings management, fatigue as such topics the past year In industry. working at heights the and of adoption and implementation The Health attention. particular received practices work safe these in cornerstone a valuable Safetyand Committee remains while body, effortsas a self-regulatory itsin and function collaboration. through learning for a platform serving as work to the Committee continues side, theOn regulatory the towards Mines of Inspector Chief of the with the office Regulations. draft & Health of the Safety Mine finalisation 2010 1.61 2009 1.67

2008 2.15 ) – MINING DIFR 2007 2.96 2006 1.70

1.91 2005 2004 1.76 DIFR 2003 2.73 LDIFR | Under the auspices of the Radiation Safety Working Group of the Namibian Uranium Institute, Rössing Uranium, Swakop Uranium, Orano Mining Namibia and Bannerman Resources conducted a joint emergency drill on the access road to the Husab Mine, justTranskalahari off theB2 Highway. © 2018 Namibian Uranium Institute < COLLECTIVE< APPROACH The Namibian mining industry remains committed to the fatalities. zero especially HARM and ZERO of principle overall Safety the Chamber and Committee, the Health Through safety and health world-class achieve strives to Mines of performance through engagement as well as learning and The Safety best practices. Committee strives of to sharing improve the well-being of employees in pursuit of their goal and injuries fatalities, industry of free an become to disease. occupational The industry’s safety performance indicators improved slightly decrease a marginal recording 2017, to compared when (LDFIR) Rate Frequency Injury Day the Lost in year-on-year Injury the Disabling while 2018, in 1.14 to 2017 1.31 in from 2018. in 1.57 to 2017 in 2.32 from improved rate Frequency the total in year-on-year a decrease recorded also The sector and 48 42 to from injuries Disabling and Injuries Day Lost 58 respectively. to 85 from 2002 0.43 DISABLING INJURY FREQUENCY RATE( LOST DAY INJURYLOST DAY FREQUENCY RATE(LDIFR) AND 3 INCOME TAX AMENDMENT BILL 2018 changes proposed Finance of Ministry the 2018, September In Bill Amendment Tax Act, draft Income the in Tax Income the to with industry and consultation for consideration stakeholders. The unintended consequences of certain amendments will make scale likely most will they meaning unprofitable, mines most with maintenance and care in up end may and production down the into investment new any stalling while losses, job inevitable mining sector. mining major many that given concerning particularly is This the next in mine of life of end their reach to due are operations unquestionably will the Bill in certain and clauses years two ten to planned thereduce new any of projectsvalue eliminate and reinvestment by existing mines. Ultimately, this would undermine to sector the mining bringing Namibia, growth in broad–based the Namibia’s biggest sectors of in one is As mining a standstill. particularly shrink, would the economy sectors of other economy, job of round a second in resulting chain supply mining the local in contractions. economic and losses 27 March on delivered speech, Budget the 2019/2020 In the deductibility disallowed has Finance of the Minister 2019, also which companies, mining non-diamond for royalties of property. intellectual on royalties sectors paying other includes the clause, this from excluded industry is the diamond While operations, mining impacts non-diamond on long-term negative revenue the immediate outweigh far will above, highlighted as increased also the Minister addition, In Government. for gains aims which 2% 15% from to stone the Export Levy dimension for a in result will This mineral. this to addition value local induce to 20%, of operations stone dimension tax for hefty revenue-based 5%. of royalty applicable the current of with the inclusion 2020 in be implemented will tax proposals income The above thus will The Chamber drafted tabled. been and have they once the unintended on Finance the Ministry of engage to continue amicable an seek and proposals these of consequences negative resolution.

NAMIBIA INVESTMENT 2016 ACT, PROMOTION (NIPA) The Namibia NEEEF, like Much Act Promotion Investment is pending(NIPA) finalisation and implementation. However, that pleased is the Chamber Government has accepted amendment proposals by the private sector players, including The Mines. of the Chamber revised legislation, once promulgatedby Parliament, encourage will that one is investment into Namibia rather for a barrier creating than investment.

2 While the Government has provided assurance to produce produce to assurance provided has the Government While industry, by inputs and reflects that submissions legislation be will NEEEF/B when uncertainty regarding still is there finalisedintentionand implemented. Following Government’s of outcome the 2018, in Bill the finalise to announcement and this Policy/legislation is still pending. Despite this uncertainty, the that industry concerns allay to wishes Mines of the Chamber industry to charters, be aligned will legislation this of contents sector. each for achievable are that targets include will which intention and its commitment reiterated also has Government with industry to work Associations and engage continuously to workable, and amicable is that legislation and a policy produce stifle than growth economic rather induce will that one productivity. New Equitable Economic Empowerment Framework (NEEEF)

CHAMBER ACTIVITIES ACTIVITIES CHAMBER INFRASTRUCTURE& LEGISLATION POLICY,

Policy, Legislation and Infrastructure Policy, i

14 CoM Annual Review 2018 CHAMBER ACTIVITIES POLICY, LEGISLATION & INFRASTRUCTURE Fraser Institute Annual Fraser Institute Annual FRASER I N S T I T U T E SURVEY

SURVEY OF MINING COMPANIES 2018 COMPANIES MINING OF SURVEY OF MINING COMPANIES 2018 NAMIBIA’S INVESTMENT ATTRACTIVENESS INDEX

80

Ashley Stedman and Kenneth P. Green 70

60 INVESTMENT ATTRACTIVENESS 50 4In the annual Fraser Institute Survey of 40 Mining Companies, it is no longer accurate 30 to compare the overall rankings of a country, 20 as the number of participating jurisdictions 10 have persistently declined since 2014. Rather, 0 it is more useful to focus on the absolute 2011 2012 2013 2014 2015 2016 2017 2018 scores. In the 2018 report, Namibia’s overall Investment Attractiveness (IAI) index fell 15 CoM Review Annual 2018 from 60.78 in 2017 to 56.66 in 2018. NAMIBIA’S BEST PRACTICE MINERAL POTENTIAL INDEX The decline in IAI was due to a significant drop in Namibia’s Best Practices Mineral 70 Potential Index which fell from 53.7 in 2017 60 to 40.63 in 2018. While there were no direct 50 explanations for the drop in Namibia’s Mineral 40

Potential, perceptions on Mineral Potential 30 of a country are inclined to deteriorate if the 20

Mineral Potential in neighbouring or regional 10 jurisdictions is perceived as better. 0 2012 2013 2014 2015 2016 2017 2018 Despite some uncertainty on key polices and legislation such as NEEEF, NIPA and NAMIBIA’S POLICY PERCEPTION INDEX the Income Tax Amendment Bill, Namibia’s 90 Policy Perception Index for mining improved 80 from 71.11 in 2017 to 80.71 in 2018. Namibia 70 scored second highest in Africa on the Policy 60 Perception Index, after Botswana. Although there was no direct reference in the report, 50 this improvement is a likely outcome of the 40 key decision to remove Additional Conditions 30 to licences for exploration companies. 20 10

0 2012 2013 2014 2015 2016 2017 2018

Source: Fraser Institute Annual Survey of Mining Companies 2018

7 ADDITION COMMITTEE (VAC) VALUE JOINT with Chamber Committee (JVAC), Addition Value The Joint NDP4. as per its mandate fulfilled large and support, by has two in phases undertaken successfully were studies separate Two hanging “low and challenges opportunities, identified have and on The two reports available are chain. value the mineral in fruits” the NDP5 in carried been on has project This website. the MME Beneficiation a Minerals of conclusion the successful enable to to pleased is Chamber The deliverable. the final as Strategy and allocation with resource progress made has MME that note Beneficiation draft to the Minerals consultants of appointment the NDP4. during so far done the work on based Strategy process. this of supportive remains The Chamber

ADDITIONAL LICENCES TO CONDITIONS theChamber to addressed a letter through 2018 October, 18 On that communicated formally Alweendo Tom Hon. Mines, of Additional exploration for Conditions no applicable longer are licences and thereby exploration companies. Additional in investments to barriers the main of one were Conditions Fraser Reports 2017 of and the 2016 in cited as exploration, posed they that in Companies, Mining Survey of Institute practical challenges for their implementation. with the consultation intense and direct of After years three the Chamber issue, this on Energy and Mines Ministry of under action with this excited and relieved most is Mines of positive and The encouraging administration. the current new into investment increased about bring should development projects. exploration pending and 5 CHAMBER ACTIVITIES ACTIVITIES CHAMBER INFRASTRUCTURE& LEGISLATION POLICY,

Policy, Legislation and Infrastructure continued Infrastructure and Legislation Policy, 6 Minerals Review Policy review, Policy the Minerals participated in actively The Chamber process. this of pace the slow observedbut with concern the African Union from assistance technical promised While for be imperative would it materialized, yet not has Commission a technical engage and seek to Energy and Mines the Ministry of the process. expedite to so as with its resources own assistant whose assistance outside to hostage be held not should MME timing is open ended.

16 CoM Annual Review 2018 CHAMBER ACTIVITIES POLICY, LEGISLATION & INFRASTRUCTURE

REGIONAL AND CONTINENTAL COOPERATION IN THE IMPLEMENTATION OF THE AFRICAN MINING VISION Water Security 8The Chamber has been cooperating with other Chambers In9 February 2018, mines in the South of Namibia suffered of Mines in the SADC region in the last 20 years under the production bottlenecks owing to NamWater’s inability to provide umbrella of the Mining Industry Association of Southern Africa water, regardless of timeous settlement of bills by the industry. (MIASA). This private sector cooperation has been elevated to a Similarly, uranium mines at the coast also suffered water continental level, following the establishment of the Association shortages, despite the existence of ample water supply from of Chambers of Mines and other Mining Associations in Africa Orano’s desalination plant. Affected mines suffered production (ACMMAA) in Windhoek, in October 2017. ACMMAA was losses whose negative impacts permeated to the national formally launched at the General Assembly in Kampala in economy. As water is not only crucial for the operation of any 17

October, 2018 where the Constitution was adopted and office mine, the Chamber of Mines is concerned by the water supply CoM Review Annual 2018 bearers appointed. ACMMAA is the continental private sector disruptions caused by the national water utility, NamWater. The advocacy body and consists of the Chambers of Mines and Chamber and affected members continued to engage NamWater other mining associations in Africa. The primary focus is the to find long-term solutions to these challenges. implementation of the African Mining Vision in collaboration with the African Union. In this process, ACMMAA aims to positively influence policy at the continental level and thereby promote the sustainable growth of the extractive industry. ACMMA will be accorded Observer Status at AU platforms and meetings where continental positions will be advanced. The Chamber of Mines of Namibia has been instrumental in the establishment of this continental body and we are proud to note that our Chamber is considered as a role model in Africa by the AU and other Chambers of Mines in Africa. The Chamber of Mines of Namibia continues to provide leadership in ACMMAA.

^ THE ERONGO DESALINATION PLANT The largest reverse osmosis seawater desalination facility in Southern Africa, is located 35 kilometres north of Swakopmund. It was initially built to supply water to the Trekkopje Mine and is wholly-owned by Orano Mining Namibia and managed by AVENG Water Treatment. © Orano Mining Namibia is Environmental and update Committee Social of the Chamber of Council 2016, In Mines approved the establishment of an Environmental Sub-committee providing a platform for environmental practitioners industry an at issues such on engage to the renamed later The Committee, level. Environmental and Social Committee guided by a set of strategic guidelines, guidelines, strategic of a set by guided were crafted and 2017 in were which part as - 2020 the 2017 of adopted Mines. of the Chamber of Strategy One the of strategic actions that the is 2018 in on work began committee the compilation of an Environmental endeavours which guide, Best Practice key on practitioners inform and assist to environmental management issues and risk The Best Practices strategies. mitigation guide is envisioned for completion in 2019 Expo the Mining at be launched will and and Conference.

Exploration Committee established sub-committee mining on phosphate marine Mines of the Chamber Through a Chamber Committee, Exploration Marine Sub-committee Phosphate was Marine the of matter on established concern most of is It mining. Phosphate that a forward way on marine phosphate and concluded, been not has mining is the sub-committee of the mandate to provide Government with relevant information and thereby expedite the strategy a workable formulating of process in mining marine phosphate to progress supports that one healthy a Namibia, co-existence with the environment and the economy. sectors of other Continuously working very hard behind the scenes are the Chamber of Mines Mines of Chamber the are scenes the behind very hard working Continuously concern, that of collectivelycommittees address mutual and areas sub-committees methods of bestchallenges, and legislation on practices policies input andprovide the include which committees permanent the are these Among them. affecting Committee,Exploration Committee, the Resources recently the established Human Safety the as well as Committee, Power the and Committee Social and Environmental review. this of safety section the in on reported were activities whose Committee, sub- or committee a temporary establish may Chamber the time, to time From industry. the to concern or relevance of is that issue a specific with deal to committee matters address to necessary, if often more or a quarter, once meet committees Most areas. subject their in Update of Chamber committees committees Chamber of Update activities and sub-committees CHAMBER ACTIVITIES CHAMBER UPDATE OF CHAMBER COMMITTEES AND SUB-COMMITTEES ACTIVITIES The Tax Committee engages Government Government Committee engages The Tax are that legislation and taxon policies reported as time, to time from proposed Tax the Income on section the previous in Committee This 2018. Bill Amendment Officers Financial Chief of comprises of mining companies(CFOs) and aims to ensure that Namibia maintains a investments to conducive regime fiscal The Tax mining. and exploration in the Chamber’s in the engine Committee is amicable achieve to processes lobby tax new on with Government outcomes that pleased is The Chamber proposals. Tax the Income in the proposals of some been have abandonedAmendment Bill reviewed or refined being are some and The 2018. in engagements of a result as the non- is matter outstanding main the assessment in royalties of deductibility this tax. Through income company of continue will the Chamber Committee, engaging Government to ensure that short term gains from the non-deductibility long-term of the expense at not is clause sustainability and growth of mining. The Chamber of Mines Tax Committee Tax Mines of Chamber The

18 CoM Annual Review 2018 19 CoM Annual Review 2018 CHAMBER ACTIVITIES CHAMBER Chamber of Mines Mines of Chamber Committee on Power Committee Mines of The Chamber the represent to continued Power on industry platforms on various and consultations on issues of electricity the included These the sector. to supply review annualprocess, Tariff NamPower Market Industry Supply Electricity the in and process consultation Framework Electrical Voltage Low of the development Installation Wiring Standards for (LVEIWS) Namibia. The committee maintained an excellent working relationship with NamPower Board Control Electricity the and 2018 in achievement A major (ECB). agreement an of the establishment was which stipulates that mines requiring or (kv) Volts 33 Kilo of a connection from directly power purchase will higher and operations withNamPower, a lower the of customers remain will voltage feed (RED). Distributors Electricity Regional entities both engaged also The committee Last Charges of Resort the Supplier on generators, power wind and solar for which were intentioned for payment by the of was The committee the customer. rather should charge this that opinion than rather the generator by be covered was the proposal and the consumer, the ECB. by removed subsequently also was Mines of The Chamber Working the Technical on represented Unit developing in the NTA assist to Group Standards and Qualifications forElectrical Engineering.

UPDATE OF CHAMBER COMMITTEES AND SUB-COMMITTEES ACTIVITIES Human Resources Committee Committee, Resources The Human and managers HR of consists which operations, mining from practitioners on feedback provide to continued related challenges experienced at mining serves a as also The platform operations. new where managers, for forum mentoring developments and trends are shared that could potentially impact industry Human An activities. and processes Resources the Committee is of important function matters, legislative on input provide to the VET Levy changes example and for promote to as Act well the Labour as to the industry. in relations labour harmonious In terms of addressing skills requirements the the industry, in bottlenecks and with the engages regularly committee and Authority (NTA) Training National the Council on represented are members and Science of University the Namibia of Industry (NUST) the NTA and Technology that ensure to is This Committees. Skills with line in developed are curriculums industry needs and requirements. The Committee continuously monitors in changes industry remuneration this to contributes Southern Africa, and the in participation yearly their through PWC Remuneration Survey.

While theWhile consultative has approach the industry, by welcome most been took that further no meetings were there regarding or provided updates place, Thethis matter. Chamber remains in progress with the slow concerned expediting the amendments, particularly that the a of mandatory establishment hinge Bonds or Fund Trust Environmental to the amendments of the finalisation on will The Chamber itsAct and Regulations. other and proposals provide to continue of Minister MET the Hon. to via input Mines Energy. and Engagements on amendments to the Management Environmental Act the supported actively The Chamber Ministry of Environment and Tourism the to (MET) the amendments in 2007 Act of Management Environmental on the Regulations accompanying and Environmental Impact Assessments (EIA) and Strategic Environmental Assessments the by driven is The process (SEA). Chamber Exploration and Environmental Committees. of May May of th and 9 access to th Improved information Mining Expo & Conference on the on Expo & Conference Mining th April 2018, at the Windhoek Show Grounds. The 2018 event attracted 94 event The 2018 Grounds. Show the Windhoek at 2018, April th Anniversary. and 26 th th 2019, at the Windhoek Show Grounds with the theme celebrating the Chamber of Mines Mines of the Chamber celebrating with the theme Grounds Show the Windhoek at 2019, 50 Stakeholder engagement continued at all levels through with direct continued The Chamber mediums. various constant included that makers policy of engagement industry on presentations one-on-one and updates areas. policy in positions Chamber and developments mattersthe affecting on information to access 2018, In industry the broadened through was developments and media social on presence online increased Chamber’s effective an be to proven has This its and website. platforms that ensure and visibility the Chamber’s increase to medium informed and updated continuously are audiences broader mining industry.on Namibia’s industry the showcasing of its fulfil to purpose continues Expo & Conference The Mining physical of suppliers service providers, for avenue an providing in and public the broader to and with the sector engage directly to andstudents officials Government investors, goods, them. to be available might that opportunities important access to its hosted 7 successfully Mines of The Chamber 25 exhibitors and 2,478 visitors compared to 73 exhibitors and 735 visitors in 2017. The 2017. in 735 visitors and 73 to exhibitors compared visitors 2,478 and exhibitors increase in exhibitors reflectedimproved investor sentiment towards Namibia during a the Moreover, prices. uranium of exception with an markets commodity improving of period strategy, marketing a successful of result a direct also was visitors and exhibitors in increase and print radio, platforms, media social and online various through the event boosted which media. visual in participate to intention their expressed exhibitors of 94% survey, the exhibitors’ Through deals. and sales concluded had they reported service providers while event, the 2019 8 on place take to scheduled is Conference Expo and Mining The 2019

INDUSTRY INDUSTRY 735 2018 AWARENESS 2,478 in 2017 CONFERENCE in compared to Stakeholder Engagement, Engagement, Stakeholder & Gender Diversity Communities MINING EXPO & CHAMBER ACTIVITIES CHAMBER GENDERSTAKEHOLDER COMMUNITIES DIVERSITY ENGAGEMENT, &

20 CoM Annual Review 2018 21 CoM Annual Review 2018 Broaden members CHAMBER ACTIVITIES CHAMBER representation in promoting the election of female election of Alternate Council STAKEHOLDER ENGAGEMENT, COMMUNITIES & GENDERSTAKEHOLDER COMMUNITIES DIVERSITY ENGAGEMENT, & In 2017, the Council of the Chamber of Mines of Namibia approved the concept of of the concept approved Namibia of Mines of the Chamber of the Council 2017, In objectives with strategic line in is This Namibia. of regions offsetsnon-mining in in investing the of regions in development economic and social to contribution the industry’s broaden to operations. mining no are there country where projects to contribute collectively members Chamber that proposed was it this, achieve To two regard, In this areas. non-mining benefitsin socio-economic long-term deliver that andLubuta Sachina electrification of the the involving first the identified; were projects support providing the second, and Region the Zambezi in conservancy the Mashi in villages in to poor the servicedland affordable of provision for Foundation the Shackdwellers to Oshakati. the Namibian and Mines of with the Chamber partnership in administered is initiative This collectively have members Mines of Chamber and (NCE), Environment of Chamber be to expected are which projects, two these to initial N$1,325,939 of a total contributed 2019. of the course in completed In line with industry efforts to strengthen gender diversity diversity with industry efforts line gender In to strengthen the management at representation encourage and mining in such mainstreamed actively has Mines of the Chamber level, initiatives within its governance structure. At Council level, capacity and management develop to taken was a decision of the appointment promoting in representation broaden accordance in is which members, Council Alternate female and Conduct Code of Constitution, with the Chamber with changing gradually thus is Council of The face Ethics. Alternate as managers female several of the appointment Council members. GENDER GENDER INDUSTRY INCLUSION ECONOMIC EFFORTS IN areas SUPPORT OF COLLECTIVE benefitsto non-mining non-mining DEVELOPMENT DIVERSITY AND N$1,325,939 NATIONAL SOCIO- OPERATING ENVIRONMENT GLOBAL AND LOCAL MARKET DEVELOPMENTS

Operating Environment

GLOBAL AND LOCAL Market Developments

GLOBAL COMMODITY MARKETS downwards. In addition to these downside risks, China’s growth AND THE WORLD ECONOMY slowed to 6.6%, the lowest level recorded in 28 years, further raising concerns of a global slowdown. An uncertain outcome for t the beginning of 2018, the prices for base metals and Brexit has also contributed to downward revisions. battery minerals continued with their upward trends, Awith some battery minerals outperforming historical China consumes over 50% of the world’s mineral commodities, benchmarks prices. The run-in mineral commodities was largely and a cooling economy could have negative implications for the driven by a rebound in global growth and in particular, in the demand of base metals and battery minerals in 2019. In the case US economy. The rally in the market for battery minerals was of battery minerals, for which China also accounts over 50% of 22 a result of a perceived supply deficit, on the back of rising the global market, the removal of consumer-targeted subsidies, CoM Review Annual 2018 demand spurred by decisions in the Advanced Economies have contributed to falling prices, and in particular, for lithium to adopt policies that prioritise minimising environmental carbonate. Another factor contributing to the declining prices of impacts and carbon emissions. As a result, these countries have lithium and cobalt in 2018 was an increase in supply, as mines in incentivised development in clean energy technologies and in other parts of the globe ramped up production for both minerals. the production of electric vehicles which make use of battery minerals. Similarly, the price of gold also began to falter half way through the year, falling by 6% in 2018. The declining gold price was a Despite the heightened optimism fuelled by growing global result of an appreciating US dollar and the Federal Reserve rate growth, geo-political tensions that sparked half way through that was increased by 2.25 basis points in 2018, rendering gold a 2018, involving the implementation of tariffs on critical imports less attractive asset to invest in. from China to the USA, had a negative impact on most mineral commodity prices. Subsequently, China retaliated in On the other hand, there was some improvement in the uranium a likewise manner imposing their own tariffs on US imports. market, which remained depressed in the first half of the year The intensifying trade wars between the powerhouses have and subsequently increased by approximately 30% in the second slowed global trade which is expected to drop even further as half of 2018. The market dynamics driving this increase were manufacturers in both countries reduce their output in response supply reductions from the indefinite suspension of operations to the tariffs. This negatively affected the demand for mineral at Cameco’s Mc Arthur River mine in Canada, a 20% drop in commodities, which resulted in declining prices for base metals uranium output from Kazakhstan and reductions from other and battery minerals in the second half of 2018. uranium producing countries as well as secondary purchases on the market. Although current prices still do not support the According to the latest IMF economic outlook, global growth is re-opening and development of new mines, the outlook for the anticipated to record 3.7% in 2018, primarily driven by growth uranium price remains positive. The fundamentals pointing to a in the USA, which is forecasted to grow at 2.9% and improving continued increase in the uranium price is a forecasted deficit in growth rates of some Advanced Economies. Intensifying trade the market, increasing demand from Asia and the Middle East; tensions have cast great uncertainty on the outlook for global and a slow shift in Government policies around the world that are growth and forecasts for 2019 and 2020 have thus been revised recognising uranium as a sustainable and clean source of energy. 23 CoM Annual Review 2018

© Photo by Markus Spiske on Unsplash OPERATINGENVIRONMENT GLOBAL AND LOCAL MARKET DEVELOPMENTS LOCAL AND GLOBAL ccording to figures released in the Preliminary National Accounts, the local economy economy local the Accounts, National Preliminary the in released figures to ccording recorded a contraction for growth with a second year a negative of rate consecutive in resulted yet not have rates growth negative of periods prolonged While 2018. in 0.1% LOCAL ECONOMIC DEVELOPMENTS ECONOMIC LOCAL countrywide bailouts and defaults, across all sectors unemployment levels risen significantly. have secondary contractions the in primary, Initial and tertiary on pressure sectors placed increasing further into feeding through household demand and consumption, contractions of the tertiary accounts. national the in lines largest the of one is which retail, and wholesale particularly sectors, growthand rejuvenate to limited is space the fiscal debt, Government of levels the high Given its of out economy left lift to the Namibian pillar the only waning, levels with consumption local business However, investment. foreign and sector private be through would growth cycle negative is sentiment low already The lows. all-time at countryin are the levels confidence investor and deteriorating further due to uncertainty in the implementation of the proposed empowerment legislation and promulgation policy, of the amendments to Namibia Investment Promotion Act, tape and red with the tedious tax act along the income to changes proposed the unresolved Namibia. in businesses new setting up in involved bureaucracy A “Despite the heightened optimism fuelled by growing growing by fuelled optimism heightened the “Despite half sparked that tensions geo-political growth, global of implementation the involving 2018, through way USA, to the had China imports critical tariffsfrom on a negative commodity impact on most prices.” mineral In 2018, the sector paid N$1.707 N$1.707 paid the sector 2018, In In 2018, direct employment consisted of 9,045 The industry directly employed 16,224 individuals in 2018, 2018, in individuals 16,224 employed The industry directly in individuals 16,973 of employment direct to compared 2017. permanent employees, temporary 498 employees and the seven, of multiplier a mining Using 6,681 contractors. mining industry indirectly created 113,568 jobs. through is creation job indirect portion this of The largest the 2018, In industry. the mining in chains supply the local revenue, in N$33.545 billion industry generated mining 40% was which of products, mineral of the sale through is It suppliers. local services from and goods on spent the industry has the mining where linkage this through in primarily development, economic local on impact greatest creation. wealth and job to contribution a sizeable makes industry also The mining 7% around generates average on which fiscus, the Namibian of Government income. and royalties in billion N$2.063 taxes, corporate in billion export levies. in million N$214.6 26%, by from the industry declined by investment Fixed 2018. in billion N$4.14 to 2017 in billion N$5.611 from in the verybase a high off is years recent in decline This saw the simultaneous which 2016, to 2013 from period are there Currently, mines. major new three of development development, in the magnitude same of projects new no of the re-opening into made being are investments however, mines. old 2%, of increase a modest recorded expenditure Exploration 2018. in million N$573.3 to 2017 in million N$562.1 from to companies mining by was exploration this of The bulk expand on existing resources, while exploration expenditure to million N$303.8 from declined companies exploration by N$205.6 million. • • • • • IN 2018

MINING INDUSTRY Performance he mining industry was one of the few sectors to record a record to sectors few the of one was industry mining he performing best the was and 2018 in rate growth positive the Agency, Statistics Namibia the to According sector.

A positive growth rate, however, did not mean plain sailing sailing plain mean not did however, growth rate, A positive Unfortunately, 2018. the in sector industry the whole for mineral volatile of result as a retrenchments 822 suffered a and the year, of half the second in markets commodity The years. nine the last in price uranium low stagnantly the industry. in jobs of the loss regrets Mines of Chamber that with the understanding conjunction in is this However, determined are operations mining of failures and successes of a result are which cycles price commodity mineral by and downsizing Thus, control. our beyond forces market commodity mineral port in a last call of are retrenchments price downturns. Through the Chamber of Mines, member for employees the affected of details shared operations possible redeployment to other operations and thereby the Furthermore, retrenchments. of impact the mitigating a of the development and mines old some of re-opening operations mining with limestone plant cement new another 112. of losses job net in resulting 710 jobs, new created OPERATINGENVIRONMENT MINING INDUSTRY PERFORMANCE IN2018 • sector grew by 22% in 2018 in comparison to a growth rate rate a growth to comparison in 22% 2018 in by grew sector 2018, in GDP to 14% contributed Mining 2017. in 13.3% of strong The 2017. in contribution GDP 11.9% to compared uranium in increases production of a result was performance 13.7% 64.8% and respectively. by grew which diamonds and up ramping the by propelled were output uranium in Increases from production increased and mine, Husab at operations of for prices low and market uranium a stagnant despite Rössing by driven was production Diamond year. the of half first the output from the Namibia Namdeb and Debmarine improved operations. T

24 CoM Annual Review 2018 25 CoM Annual Review 2018 , from which which , from , with first he operation will will operation he T The re-opening of the of The re-opening , especially in a low uranium uranium a low in , especially OPERATINGENVIRONMENT Low prices for natural graphite graphite natural for prices Low HIGHLIGHTS OF MINING IN NAMIBIA

In November 2018, the Imerys Gecko Joint Venture Venture Joint Imerys Gecko the 2018, November In Graphite Okanjande their at production (JV) suspended and placedmine the operation on care and maintenance, retrenching 128 employees. operations of continuation warrant not did graphite. natural quality high producing was the mine plant, processing the Okorusu to ore of Transportation to contributor a major also was away, kilometres 88 some operationalhigh costs. the sector, mining the in losses job spread wide Despite of two and old the mines redevelopment construction the of some re-absorb to helped has plant a cement of affectednegatively employees. US$21.4 of investment an at mine, Zinc and Lead Namib million, made significant progressin 2018 Upon 2019. of quarter the second in expected production the mining in jobs new 150 create will the mine completion, AfriTin by redeveloped being is mine Tin Uis The old sector. been has plant processing one a phase which for Mining, constructed. was Cement, Rock Whale by owned plant cement new The mining the with commenced has and 2018 in completed andof production. cement limestone create 450 new permanent jobs in the industry. the industry. in jobs permanent new 450 create its 69% sell to agreement an entered Tinto Rio Lastly, China the to mine uranium Rössing the of shareholding Corporation 2018. The Uranium November in National and /authorizations processes final pending is transaction year. of this the firsthalf in be completed to expected is criticism wide-spread received has transaction this While of continuation underpin will the sale media, the local in mine the Rössing at operations price environment. • • • • and

, while , while

a concept study study a concept , focusing on optimisation areas, areas, optimisation on , focusing Unfortunately, water shortages water Unfortunately, at the should there be a substantialimprovement African mineresulted Tantalum in the operation significantly reducing production and retrenchments of 94 employees. drilling extensive an on embarked has The company campaign to determine a conclusive resource definition A persistently depressed uranium market continued continued market uranium depressed A persistently mine, Heinrich Langer the at operations jeopardise to mine the place to decision Paladin’s in resulting eventually 600 Subsequently, 2018. May in maintenance and care on employees were retrenched. However, a possible examined 2018 of the end towards conducted results positive delivered and restart Heinrich Langer of cost costs sustain and lower to options multiple indicating to Paladin prompted have The results competitiveness. initiate Prefeasibility studies capacity produce to Heinrich’s Langer examine also will but increase thereby and co-product a saleable as vanadium for the mine position will long term This value. the project’s possible re-start price. the uranium in negatively 2018 of half second the in prices lithium Falling operations. Desert Lion the at profitability the affected the at operations Desert suspended Lion Consequently, The Karibib. outside just mines Helikon and Rubikon old stock from concentrate lithium producing was company off-take an through China to shipment for ore piled the Subsequently, buyer. with the respective agreement further to capital raising of the process in is company site on concentrator added with an the mine, develop the project Assessment of was Economic a Preliminary completed which reported positive project economics. producing also was operation Tantalum African The shipments five with Warmbad, near pentoxide tantalum up until July 2018. plan. mine adevelop long-term MINING IN NAMIBIA Highlights of • • • REVIEW OF Companies in 2018 in Companies

26 CoM Annual Review 2018 27 CoM Annual Review 2018

Bannerman Mining Resources Namibia CelsiusResources Damaran Exploration Namibia Marenica Energy Critical Metals Namibia Osino Gold Exploration Reptile Mineral Resources and Exploration Resources Zhonghe

EXPLORATION COMPANIES 60. 61. 62. 63. 64. 65. 66. 68. Afritin Namibia Mining Desert Lion Energy Namib Lead And Mining Zinc DEVELOPMENT COMPANIES 57. 58. 59. Orano Mining Namibia Rosh Pinah Corporation Zinc Uranium Rössing Chemicals & Salt Skorpion Zinc Swakop Uranium Namdeb Holdings B2Gold Namibia B2Gold Debeers Marine Namibia Dundee Precious Metal Tsumeb Gecko Namibia Imerys Gecko Holdings Namibia Langer Heinrich Uranium Diamond CorporationNamdeb

Navachab

OPERATING COMPANIES 46. 48. 50. 52. 54. 56. 44. 30. 32. 34. 36. 38. 40. 42. 28.

EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$16.2 million N$4.6 million P.O. Box 80363 Box P.O. Windhoek • Namibia AFFIRMATIVE AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 SAFETY RATING ENDAT 2018 × None % Approved ) 3

90% 10% EPL 6602 EPL EPL 6627 EPL 6628 • • • +264 61 295 8799 61 +264 LATEST ESTIMATE OF MINE OF LIFE 2027 LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$1.708 billion N$1.708 N$1.441 billion N$24.8 million N$6.6 million Tel. +264 61 295 8700 61 +264 Tel. Fax

EPL 2410 EPL 4309 EPL 6219 EPL 6436 DATE OF DATE PRODUCTION START ENDEPL’S AT OF2018 SHAREHOLDERS NAMIBIAMINES IN 2014 • • • • Otjikoto mine ML 169 B2Gold Namibia (Pty) Ltd. Ltd. Mining Company EVI DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 N$18.4 million N$183.7 millionN$183.7 Nil million N$93.7 Managing Director: Mark Dawe [email protected] www.b2gold.com

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 72 13

of May 2018, B2Gold Namibia celebrated the opening the opening celebrated Namibia B2Gold 2018, May of th

IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 KILOGRAMS GOLD OF BULLION N$646.4 million N$616.4 million 1 Jan to 31 Dec 31 to 1 Jan billion N$2.824 133 876 4,477 2018 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT B2GOLD NAMIBIA B2GOLD of the B2Gold Otjikoto Solar Farm. In 2017, B2Gold broke ground ground broke B2Gold 2017, In Farm. Solar Otjikoto the B2Gold of (PV) solar photovoltaic (MW) a 7 megawatt of the construction on in plant the solar including to Prior Mine. its at Otjikoto plant power its of 100% obtained Mine the Otjikoto portfolio, energy the mine’s capacity at generation installed of MW 24 from requirements energy diesel (HFO) heavy of oil fuel comprising plant, power the Otjikoto generators. 2018 HIGHLIGHT2018 theOn 29 Namibia’s second gold the mine, Otjikoto between lies mine, Otavi and Namibia’s Otjiwarongo Northern in Namibia. The mine came production into December in 2014 and successfully has entered commercial into production exceeding production targets. (PTY) LTD. OPERATING COMPANIES OPERATING

28 CoM Annual Review 2018 29 CoM Annual Review 2018 OPERATING COMPANIES OPERATING The Environmental Clearance Certificaterenewed was (ECC) foranother three years for the Otjikoto Mine operations. Health, Safety and Environmental management systems audited were to evaluate compliance with operational requirements risk to improve management. No critical issues identified were in Environmental their Management systems. The environmental monitoring programme was expanded to include noise ambient on and offsite to monitor potential impacts. A technical study was conducted to review the potential acid of generation from mined material, with no major risks identified. Of the wastedisposal by the operation,70%recycled was which consistedtonnesof of 1,138 paper, cardboard, scrap metaland waste oil. A plant nursery was constructed to cultivate indigenous and protected plant species to progressive aid rehabilitation of disturbed areas. The installation PV solar the of plant successfully 7MW reliance on HFOs and thereby helped the to minimise mine’s reducing its carbon footprint, to 17% supplementing by the of 16% operational power generation. Improving the livelihoods citizens, Namibian of through health, education, SME development and environmental conservation effortsremained the focusB2Gold’s of Corporate SocialInvestment programmesin 2018. A central philosophy the in approach tothese programmes the is principle empowerment. of B2Gold date, has Namibia invested N$23 over community in million To projects throughout Their Namibia. Education Centre situated at the Otjikoto Nature Reserve has hosted more than 1,000 learners and their teachers at no cost to the participants. Learners receive lessons environmental in studies, leadership training, skills survival development skills and physics training. skills The company also supported programmes early in childhood development; primary and secondary schools through infrastructureupgrades, donation school of desks, chairs and educational materials as teacher as well developmentskills programmes. CorporateB2Gold’s Social Investment health (CSI) primarily pillar focused on access to basic health care. B2Gold provided health care services the in to Otjozondjupa communities remote as Mix as well it Tsumkwe Region of and Havana informal settlements Windhoek. in termsIn livelihoods, of the company provided 112 SMEs with business training skills as coaching as well and mentoring. They also supported housing programmes collaboration in with the Development the Workshop Namibia, of Namibia Chamber Environment of and the Shack Dwellers Federation. B2Gold continues Namibia to support wildlife conservation initiatives and the Chamber Environment of with its flagship projects. The labour relations climate for 2018 was stable and conducive the for relationship production, between however, the and Management (MUN) Union was delicate. ThisMine was Workers’ largely as a result the of parties criticizing each other for not negotiating good in faith whenresolving labour related matters. The company experienced one demonstration 2018. in Members the of alleged MUN unfair treatment management. by The demonstration was peaceful and took placeafter working hours. B2Gold provided Namibia study assistance to 20 employees across a number in disciplines of with approximately N$520,000 that was paid to tertiary institutions 2018. in bursar Five students attended their second year studies of at various tertiary institutions while three permanent employees became new in-service bursars on a basis.full-time The company on spent tuition, million approximately N$1 accommodation, incidentals and travelling costs. An estimated was spent million on technical amount N$3.1 of and non-technical training 2018. in Employees attended various training programs and interventions relevant to their B2Gold area discipline. of focused Namibia primarily on to middlejunior management development skills and included training such as supervisory, employee relations and leadership interventions.and core safety Technical training was also a priority 2018. in 2018,In B2Gold provided Namibia opportunitiesto 22 graduates across various practical disciplines to gain hands-on experience the in workplace. addition In to the the above, company provided opportunity an apprentices/interns to 93 from vocational training centres and tertiary institutions, also providing them with the opportunity to gain experience in their fieldsof study. The Otjikoto mine posted another solid performance terms in production, of achieving its of the mid-point production guidance range. production comparison In 2018 in to 2017, decreased 13%, by as planned, due to a negligible amount Wolfshag beingof ore mined. Phase the 2 of Wolfshag Pit being is developed and the higher grade of mining is ore scheduled to resume from this pit towards the end 2019. of ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS PRODUCTION

P.O. Box 23016 Box P.O. Windhoek • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$8.6 million million N$99.6 Mv Mafuta Mv SS Nujoma Mv Coral Sea charter) (on ISM Certification OHSAS 18001 Certification ISO14001 retained AFFIRMATIVE AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 SAFETY RATING ENDAT 2018 • • • % Approved ) 5 • • •

50% Tel. +264 61 297 8400 61 +264 Tel. 297 8140 61 +264 Fax LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$4.5 billion billion N$1.161 ** ** LATEST ESTIMATE OF MINE OF LIFE _ 50%

Mv Debmar Atlantic Mv Debmar Pacific !Gariep Mv Mv Grand Banks SHAREHOLDERS VESSELS END AT OF2018 MINES IN NAMIBIAMINES IN OF DATE PRODUCTION START Namibian Government 2001 • • • • De Beers Marine diamond mining off the coast of Namibia DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 ** ** ** ** CEO: MrCEO: Otto N. Shikongo [email protected] www.debmarinenamibia.com

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 29 130 (**See aggregated figures on the Namdeb Holdingsreport on page 56)

PERMANENT EMPLOYEES ENDAT 2018 CONTRACTORS EMPLOYED IN CARATS Nil 954 2018 1,436,000 IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 ** ** 1 Jan to 31 Dec 31 to 1 Jan ** EMPLOYEES OUTPUT CONTACT DETAILS FINANCIAL

NAMIBIA DE BEERS MARINE TRADING NAME DEBMARINE NAMIBIA Debmarine the (DBMN) Namibia is marine exploration and operator mining for the offshorelicence area by heldNamdeb HoldingsLtd. (Pty) (PTY) LTD. OPERATING COMPANIES OPERATING

30 CoM Annual Review 2018 31 CoM Annual Review 2018 OPERATING COMPANIES OPERATING An ISO 14001:2015 transition and re-certification audit was successfully completed and DBMN received received DBMN and completed successfully was audit re-certification and transition 14001:2015 An ISO (DEA) ofthe Affairs Environmental of Directorate 2021. The August until valid itsis recertificationwhich Impact Environmental updated and revised newly DBMN’s approved Tourism and Environment Ministry of 2021. November until up valid is The ECC Plan. Management Assessment and the mv on 21 9 November to from October place took campaign sampling benthic 2018 The annual All operations. survey the geophysical for used also is party which vessel a third contractor Star, DP selected were fifteen sites transect addition, In sampled. successfully were sites monitoring environmental benthic with the current be sampled not could that areas substratum hard of footage video collect to tool. sampling The Debmarine Namibia Social Responsibility Fund (SRF) continued to sponsor worthy initiatives in 2018 2018 in worthy initiatives sponsor to continued (SRF) Fund Responsibility Social Namibia The Debmarine which focused on women empowerment through education, environment and conservation, education, with these line In health. and capacity building infrastructure, community sports,youth developing for workshop Mathematics and Engineering Technology, a Science, hosted the company initiatives, of the area In libraries. community to books science donated Bay and Walvis in students female young The Centre. Environment Marine Project the Dolphin of the revamping sponsored DBMN conservation, well as continued, was Cup Namibia the Debmarine towards sponsorship the three-year of season second as annual sponsorships towards national netball events, the Hardars Cup in Lüderitz and African Stars tournament. The Ministry of Health national suicide prevention campaign and annual medical workshops improvement health and with its line in building capacity company supportby the financial received the Ministry by of organised conference the sub-regional to provided also were Sponsorships objectives. its safety road NAMPOL and towards Foundation Economy the ONE Council, regional Erongo Works, campaign. The company enjoys healthy labour relations with their social partners. A three-year Wage Agreement, Agreement, Wage partners. social A three-year with their relations labour healthy enjoys The company the for occurred demonstrations or strikes No place. in currently is and concluded was 2020, in ending review. in year DBMN continued to invest significantlyin localskills development, with a total millionspent of N99.6 new Five bursary and scheme. capacitybuilding trainee programme, training in-house itson extensive and Marine Engineering Electrical Engineering, of Mechanical the fields in awarded were bursaries across training through upgraded were the workforce in artisanal skills and Technical studies. Navigational departments. across run were courses leadership safety and management, various while disciplines, all Pre-production development sampling in 2018 in the Atlantic 1 mining licence totalled 201 days against a against 201 days totalled licence 1 mining the Atlantic in 2018 in sampling development Pre-production 200. of budget 2018. 79 in days of a budget against days 88 to surveys amounted geophysical Pre-production capacity. expansion future de-risk to 2018 carried in out was days 28 totalling sampling Exploration Injury Time OHSAS certifications. its and 18001 ISM ISO14001, Lost The retained Namibia Debmarine recorded. were incidents Potential High Four recorded. LTI’s with nine 2.42 was (LTIFR) Rate Frequency measures the necessary preventative and corrective incidents, these of investigation a thorough Following were implemented. Debmarine Namibia achieved its production target, producing 1.436 million carats of diamonds. This was was This carats diamonds. of million 1.436 producing target, its production achieved Namibia Debmarine carats. 1.402 of budget original an against ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRE- PRODUCTION DEVELOPMENT PRODUCTION

EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$7.8 million N$7.8 N$6.1 million P.O. Box 936 936 Box P.O. • Namibia Tsumeb SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 × None for approval × Waiting ) 7

90%

2% LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$1.321 billion N$602.8 million n/a Nil Tel. +264 67 223 67 4000 +264 Tel. 223 67 4231 +264 Fax LATEST ESTIMATE OF LIFE MINE OF 2030 8%

SHAREHOLDERS DATE OF DATE PRODUCTION START Dundee Precious Investments B.V Local BEE Share Trust Employee 1963 DETAILS PAID PAID IN 2018 LOSS IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 n/a N$109.1 million N$109.1 n/a n/a Vice and President Managing Zebra KaseteDirector: Mr. [email protected] www.dundeeprecious.com

TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 EXPATRIATE EMPLOYEES ENDAT 2018 18 0

TONNES OF BLISTER COPPER BLISTER OF TONNES TONNES OF SULPHURIC ACID 240,404 48,970 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 732 700 2018 IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 N$236.8 million N$605.6 million 1 Jan to 31 Dec 31 to 1 Jan billion N$2.136 OUTPUT EMPLOYEES CONTACT DETAILS FINANCIAL Considerable improvement on safety performance in attaining two (LTI). Injury Time a Lost without work of hours million the the optimisation and of Increased availability furnace, thereby increasing throughput. a into dust arsenic convert to plant VitrificationConstruction pilot of form. solid useful, historic the potential understand to conducted was study In-depth and thereof the impact and operations smelter from contamination considerable decrease in community complaints about sulphur emissions.

METALS TSUMEB DUNDEE PRECIOUS • • • 2018 HIGHLIGHTS 2018 • Dundee Precious Metals Tsumeb, previously known Custom Namibia as Dundee Smelters, Metals Precious Tsumeb, 430 approximately kilometres from locatedis Windhoek Tsumeb, in and produces imported copper from invested blister has copper concentrates. The company with stateheavily of the their in new smelter, art filtration gas systems. OPERATING COMPANIES OPERATING

32 CoM Annual Review 2018 33 CoM Annual Review 2018 OPERATING COMPANIES OPERATING Studies on the impact of potential and current contamination from smelter activities, began in 2018. 2018. in began activities, smelter from contamination current and potential of the impact on Studies plan. a rehabilitation devise and measures mitigation identify suitable to aim and ongoing are These groundwater assessment, land contaminated model, groundwater model, balance a water include They protocol. monitoring surface water and identification waste legacy protocol, monitoring determine to help dust,will containing arsenic to treat plant the Vitrification of pilot The construction 2018 in began Site Waste the Hazardous Construction expand to waste. such of the disposal for options completion. to close is and and remediation soil in-situ for be used will which trees indigenous grow to place in also A nursery is dust suppression. Labour relations remained harmonious during 2018, however, 13 labour dispute cases were recorded. recorded. cases were dispute labour 13 however, 2018, during harmonious remained relations Labour year. one for increments wage covering concluded, successfully were negotiations Wage The Substantive through continued development Employee 2018. in DPMT by awarded were bursaries new Seven to training In-house programmes. leadership and programmes MBA in learning higher of institutions departments. across provided also was skills soft technical and develop the Oshikoto Tsumeb, in programs and institutions various in invested was 8 million N$7, of amount A total arts health, and & welfare social development, SME education, of the areas in Namibia and region contributions through investment of share the largest received Education the environment. and culture with the Municipality the supported Tsumeb also DPMT Tsumeb. in schools of a number support to and in Hospital District the Tsumeb as well as settlement the informal in infrastructure water new of installation building a new Pediatric ward. The company recorded a Total Recordable Injury Frequency Rate (TRIFR) of 0.32 in 2018, against a target a target against 2018, in 0.32 of (TRIFR) Rate Frequency Injury Recordable a Total recorded The company (RWDI) Injury Day Work 0 Restricted and (MTI’s) Injuries Treatment Medical three LTI’s, Two 1.03. of which 2017, to comparison in improvement The safety 2018. statisticsmajor a in reflected recorded were the embedding and safety campaigns changes, behavioural on focus extensive an by driven largely was company golden rules. In 2018, improvements to the furnace resulted in a year-on-year increase of new metal bearing bearing metal new of increase a year-on-year in resulted the furnace to improvements 2018, In respectively. 7.6% production blister and 7.42% by concentrate upgraded. afterwas system, the furnace the off-gas in redundancy from stemmed constraints Operational necessary the improvements. implement to and design system the off-gas review to plans The company a challenge was preheater plant acid the sulphuric of the availability production, acid sulphuric of terms In its improve to place in put were measures Various purpose. its for intended compatible not is itsas design availability. ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY PRODUCTION

P.O. Box 81307 Box P.O. Windhoek • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$300,000 Nil White Lady Salt Works (Pty) Ltd Okorusu Fluorspar (Pty) Ltd Gecko Exploration (Pty) Ltd Gecko Salt (Pty) Ltd SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 RELATED OPERATIONS IN NAMIBIA × None % Approved ) Nil • • • •

83% 5.5% 5% Tel. +264 61 225 826 61 +264 Tel. 225 304 61 +264 Fax TOTAL PROCUREMENT SPEND IN 2018 PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 N$95 millionN$95 million N$92 Nil Nil LATEST ESTIMATE OF MINE OF LIFE Okorusu Fluorspar: ~2069 Gecko Salt: ~2069

DATE OF DATE PRODUCTION START SHAREHOLDERS NAMIBIAMINES IN Okorusu Fluorspar: 2017 Gecko Salt: 2017 Gecko Namibia (Pty) Ltd Stewardship Investments Tulongeni Family Trust Okorusu Fluorspar: ML 90 – active, appliedML179, for Gecko Salt: ML 210 – applied for, Mining Claim – 68000-2 DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 N$432,372 N$20.5 millionN$20.5 Nil N$207,796.00 General Manager: Mr Morne Du Toit www.gecko.na

TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 EXPATRIATE EMPLOYEES ENDAT 2018 16 8

FIXED INVESTMENT IN 2018 WAGES SALARIES & PAID IN 2018 FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 OKORUSU OPERATION: TONNES TONNES OPERATION: OKORUSU OF AGGREGATE RAILWAY BALLAST ORE IRON OF TONNES SALT OF TONNES SALT: GECKO N$318 million N$59.2 million N$59.2 N$48.69 million 1 Mar to 28 Feb 28 to 1 Mar 50 7 70, 650 37,119 11,079 2018 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT GECKO NAMIBIA GECKO Gecko Namibia is a privately-owned company, 100 privately-owned a percentGecko is Namibia owned Namibians, company, by and local has affiliates in Salt,Gecko Limestone, Gecko Phosphate, Imerys Gecko Gecko Graphite, Earths Rare Namibia and Gecko Exploration. (PTY) LTD. OPERATING COMPANIES OPERATING

34 CoM Annual Review 2018 35 CoM Annual Review 2018 OPERATING COMPANIES OPERATING The Gecko group of companies holds a number of exploration licences, most of which are through JVs JVs through are which of most licences, exploration of a number holds companies of group The Gecko critical future and metals base on focus with itsCritical Metals, main Namibia and Resources with Celsius mine, Fluorspar the Okorusu Salt and Gecko operations, two mining owns also Gecko exploration. minerals minerals. industrial producing both 2017, in operations commenced which salt was 654 of tonnes 70, which from ponds, crystallizer of hectares 14.2 Salt developed Gecko 2018, In ore, iron started the company producing 2016, in mine Fluorspar the Okorusu After purchasing produced. 2017. in aggregates other and ballast railway production fluorspar re-commence to with a vision investors potential of a number engaged has Gecko an containing tonnes million 10 to close of base resource With a total mine. Fluorspar the Okorusu at through estimate resource this improve to and further potential fluorite, of tonnes million 3.5 estimated a is mine the Okorusu at operations Fluorspar redeveloping that believes the company exploration, viable opportunity. the Steilrand at exploration with its conducted JV partners, exploration to the company addition In reconnaissance with five project Gypsum the Ovambo at and drilled, holes RC with six project Barite RC boreholes that drilled. were at intern one supported Gecko subsidiaries. and projects all across relations labour sound enjoyed Gecko company the operations, its Through Windhoek. in offices the central at two interns and mine the Okorusu communities. and suppliers local supporting local to economy the significantly contributed concluded was Salt the Cape project Cross for Assessment (EIA) Impact the Environmental 2018, In Environment of Ministry Certificatethe from Compliance (ECC) its Environmental received and 2018, in activities exploration ongoing include 2019 for activities planned forward, Going (MET). Tourism and Warmbad, and Grootfontein at programmes reconnaissance of commencing region, the Kunene in the for application a ML and mine the Okorusu at development underground of the viability assessing project. SwaCa Lime MAIN ACTIVITIES FOR 2018

P.O. Box 81307 Box P.O. Windhoek • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$69,919 N$609,133 Imerys Gecko Graphite Namibia (Pty) Ltd. (Pty) Ltd. Imerys Gecko Okanjande Mining SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 RELATED OPERATIONS IN NAMIBIA × None × None ) Nil • •

Tel. +264 81 122 9213 +264 Tel. LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$236.9 million N$236.9 million N$139.9 n/a Nil LATEST ESTIMATE OF MINE OF LIFE 2037 49% 51%

EPL 3037 EPL 4717 SHAREHOLDERS EPL’S AT ENDEPL’S AT OF2018 MINES IN NAMIBIAMINES IN OF DATE PRODUCTION START Imerys S.A. 2017 • • Gecko Namibia Okanjande graphite mine (ML 196) DETAILS PAID PAID IN 2018 LOSS IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 N$10.3 millionN$10.3 N$160.9 million N$160.9 Nil N$175,131 Chief Operating Officer:Tjipita Mr.Martin [email protected] www.imerys-graphite-and-carbon.com

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 Nil Nil

PERMANENT EMPLOYEES ENDAT 2018 CONTRACTORS EMPLOYED IN TONNES OF GRAPHITE FLAKES GRAPHITE OF TONNES 774 10 2018 3,456 IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 N$225.8 million N$48.9 million 1 Jan to 31 Dec 31 to 1 Jan N$36.4 million EMPLOYEES OUTPUT FINANCIAL CONTACT DETAILS

HOLDINGS NAMIBIA IMERYS GECKO 2018 HIGHLIGHT 2018 in flakes graphite of tonnes exported 785 Namibia Imerys Graphite export markets The main 2017. in tonnes 130 to compared 2018, Spain, Japan, Germany,were India Turkey, and China. (PTY) LTD. The Okanjande project graphite a joint venture mine, between Imerys Graphite & Carbon and Geckosituated Namibia, kilometres is 14 south of Otjiwarongo. The mined transported ore is the to plant Okorusu for further processing. the Unfortunately, mine was placed on care and maintenance thetowards end prices. graphite unfavourable 2018 to of due OPERATING COMPANIES OPERATING

36 CoM Annual Review 2018 37 CoM Annual Review 2018 OPERATING COMPANIES OPERATING Environmental management activities involved dust suppression and road maintenance along the mine and 2018. throughout roads access Despite retrenchments following the decision to place the mine on care and maintenance in November November in maintenance and care on the mine place to the decision following retrenchments Despite retrenchments. ensuing raised were disputes No cordial. remained relations labour 2018, the Vocational to its contribution through development skills national to contributed The company posted was engineer a junior contribution, (VET) this above and Over 2018. in Fund Training and Education development. Imerysto South further Africa for skills community the Olukupa to relinquished and 2018 in completed was Clinic the Olukupa Construction of million. N$1.5 of a value at constructed was The clinic region. the Oshikoto in Diamond drilling was conducted on targets identified from previous geophysical work on the company’s company’s on the work geophysical previous from identified targets on conducted was drilling Diamond cutting,Core drilling. infill and for furtherinvestigations identified were targets seven of out Three EPLs. 2019. for scheduled is cores the drill of analysis an and sampling review. in the period for recorded were incidents fatal or LTIs No All mining related activities were performed by an appointed contractor with the necessary experience, with the necessary contractor experience, appointed performed an by were activities related mining All was which mined, was ore graphite of tonnes 191,880 2018, In the company. of supervision under the plant tonnes, capacity2,000 of its current Despite plant. the Okorusu at processing for transported flakes. graphite saleable of tonnes 3,456 produced the operation in resulted which prices graphite in decline a gradual to lead China from supply Increasing being placed on care and maintenance in November. ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION

P.O. Box 156 Box P.O. Swakopmund • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$1.8 million N$600,000 4 Star NOSA Platinum AFFIRMATIVE AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 SAFETY RATING ENDAT 2018 • % Approved ) Nil

75% Tel. +264 64 6450 410 +264 Tel. 64 6332 410 +264 Fax LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$575 million N$387 million N$1.45 million Nil LATEST ESTIMATE OF LIFE OF MINE 2040 100% 25%

MINES IN NAMIBIAMINES IN OF DATE PRODUCTION START SHAREHOLDERS Langer Heinrich mine (ML 140) (ML 172) 2007 Langer Heinrich Mauritius Holdings Ltd Ultimate Holding Company: Paladin Energy Limited Chinese Overseas Uranium Holdings Ltd DETAILS PAID PAID IN 2018 LOSS IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 Nil N$1.06 billion N$1.06 Nil N$25.4 million Managing Johan Roux Director: Mr. [email protected]

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 Nil 1

CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 TONNES OF URANIUM OXIDE 32 19 2018 465 IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 N$6.6 million N$205.4 million 1 July to 30 June 30 to 1 July N$560 million EMPLOYEES OUTPUT CONTACT DETAILS FINANCIAL

URANIUM LANGER HEINRICH Langer Heinrich Uranium (Pty) (LHU) Ltd is owned by Paladin Energy, which is is which Langer (LHU) Energy, owned (Pty) Heinrich Uranium is Paladin Ltd by listed on the Australian (NSE). Exchange and Stock The Namibian mine was placed on care and maintenance May 2018 in due a depressed to market. uranium (PTY) LTD. OPERATING COMPANIES OPERATING

38 CoM Annual Review 2018 3939 CoM Annual Review 2018 OPERATING COMPANIES OPERATING During the reporting period, LHU other continued and applicable legal to operate all within of full compliance Therequirements. maintained its mine 14001:2004 ISO accreditation the for period 2015 to 30 April 1 June 2018. energy and water usage, land-use, aspects environmental Monitoring of sampling and quality, water and air as such biodiversity continue throughout radiation and the programme. will care maintenance and Due to the status, care maintenance and LHU focussed critical on statutory and 2018 during requirements training Further response. firstthatemergency and safety, involved provided aid, LHU to studyabove, assistancethe to four employees. Langer procedures, and continued policies to support Heinrich the Government of Energy’s with line In Paladin its in talented, productive specifically and ambitious Namibia skilled, endeavours to develop focusing citizens, on its Its impactimmediate within Education the areas Community region. core are Erongo areas focus Investments (CI) Management, development, Skills Environmental and Health and Management sports through nutrition, and with the primary target beneficiaryyouth. Namibian thebeing group with a financial Trust 2018,In the Opportunities company continued to sponsor the Mondesa Youth (MYO) contribution N$400,000. of LHU supported the Annual Mathematics Congress, targets which the development a contribution through mathematics teachersof N$171,400 of of across Namibia, this skills teaching and towards initiative. funds Through raised its during Annual Charity Golf event,were andone five classrooms storeroom constructed Primary at the West Etoto Langer School the donated in region. N$15,000 Unit Kunene Heinrich hosted the Directorate Awards by Education, Arts of Erongo Teachers the and Culture and Regional towards participated Feeding Further a career Trust donated in was exhibition. to the N$105,000 Promiseland to the above, 250 disadvantaged caters basis. which a daily on Scheme, approximately for children Management, the Environmental of In LHU area contributed to the N$250,000 Gobabeb Training and Research This initiative supports Programme. Internship environmental young of scientific the of skills research development Training programme facilitated and Research internship at a five-monththe through field-based professionals Centre located natural Desert. the in Namib capacity to build aims It the in sustainable Namibia’s of management resources. CoastLanger 100th supported West the as Heinrich annual well as birthday, the commemoration Swakopmund’s of Road Safety Initiative. No exploration took the place during course 2018. of LHU maintained its the recorded for review. 4 star in year NOSA rating up accidents no major There LTI’s were or Apriltill 2018. The the Ministry Ministry informed care maintenance of and were Mines Energy, and of Labour MUN of as well as the negative to minimise impacts A series order in consultations of followed LHU. discussions for and plans the on affectedemployees. Localinformedauthorities also of operations,of changethe were as otherrole-players and other and contractual impacted.suppliers also were obligations requesting peaceful severance during to management packagesPetitions higher delivered demonstrations were in Agreement 2018. certificate June 18 A compliance on signed was a Retrenchment Subsequently, May June. and on processthe issued retrenchment was the by Office of theLabour Commissioner. Following a suspension of operations in May, LHU only produced 465 tonnes of uranium oxide in 2018. in LHU producedonly oxide 465 uranium operations of tonnes of May, in a suspension Following An part integral the is the safety programme of care maintenance and security and personnel of LHU assets. and activitiesThe care a state maintenance and main in the equipment and readiness maintaining plant to of include facilitate the restart operations, of complying and with obligations. environmental social and legal, status, has care market fundamentals maintenance and the in uranium improving Subsequent to the mine’s Energy Ltd to commence with optimisation Paladin prompted studies to position ready and the once mine pricefavourable occur. increases ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION

EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$565,729 million N$7.91 P.O. Box 1906 Box P.O. Windhoek • Namibia Ltd., trading name: Debmarine Namibia Company (NDTC) De Beers Marine Namibia (Pty) Namibia Diamond Trading 18001:2007 OHSAS RELATED OPERATIONS IN NAMIBIA SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION • • • % In review

TOTAL PROCUREMENT SPEND IN 2018 PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 N$2.71 billion N$2.27 billion ** ** Tel. +264 61 204 3348 61 +264 Tel. 238 833 61 +264 Fax

100% 50% 50%

SHAREHOLDERS MINES IN NAMIBIAMINES IN Government De Beers Namdeb Holdings Southern Coastal Mines Mining Area - 2021 1928 No.1: Orange River Mines Daberas: 1999 - 2020 Sendelingsdrif: - 2021 2014 - 2020 2019 Obib: Northern Coastal Mines Beach & Marine Contractors: - 20211991 Elizabeth Bay: - 2019 1991 DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 ** ** ** ** CEO: Mr. Riaan Burger Mr. CEO: [email protected]

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 42 15 (**See aggregated figures on the Namdeb Holdingsreport on page 56)

FIXED INVESTMENT IN 2018 WAGES SALARIES & PAID IN 2018 FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 CARATS ** ** ** 1 Jan to 31 Dec 31 to 1 Jan 726 1533 571,847 2018 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT Ramping up of Southern Coastal operations to five mining faces faces mining five to Southern Coastal of operations up Ramping mines. these from production boosted targets. production exceeded Mines River Orange Agenda my is “Gender the prestigious received Namdeb the through category, sector the private in award Campaign” its for continuous Welfare, Child and Equality Gender Ministry of mining Namibia’s in equality efforts gender towards striving in sector. Winner of the Chamber of Mines inter-safety Competition in 2018. 2018. in Competition inter-safety Mines of the Chamber of Winner

CORPORATION NAMDEB DIAMOND • • • • 2018 HIGHLIGHTS2018 (PTY) LTD. Namdeb Diamond Corporation owned is Namdeb by Holdings. turn, In Namdeb Holdings owned is 50:50 De Beers by and the Government of the Republic respectively. Namibia OPERATING COMPANIES OPERATING

40 CoM Annual Review 2018 41 CoM Annual Review 2018 OPERATING COMPANIES OPERATING The company continued to manage community relations Lüderitz in and Oranjemund with focus reviewing of a key risks and impacts which incorporated were integrated an in socialand environmental plan. mine closure The implementation thisof work scheduled is for 2019. Given the business context, CSI spend remained active but on a smaller scale. Namdeb identifiedand supported projects through the Debmarine-Namdeb Foundation and other forms discretionary of expenditure. Namdeb successfully transitioned to the new ISO14001:2015 and received accreditation through external an audit. Environmental Management Programme Reports licence for all updated areas were and submitted to renew its Environmental Compliance Certificate (ECC). was initiatedWork to update and review the detailed rehabilitation plans for operations. The annual external audit for the biophysical cost closure liability was completed, with no major risks identified. Industrial Relations remained fairly stable 2018, in given the challenges the in business and operational environment. this end, Namdeb embarked on a restructuringTo that and planning exercise included offeringvoluntary separation packages to employees. Employee and community engagements focus also were area a key relation in to the winding down Elizabeth of Bay operations. Housing and related issues Oranjemund in remained a concern that manifested through a peaceful demonstration held June 2018.in Overall, both parties maintained constructive and harmonious relations as demonstrated concluding in revisions on the Employee and Procedure Relations Policy November on 03 2018. No new bursaries the provided company were 2018, supported in however, the national development skills agenda by providing job attachments and work integrated learning opportunities across various internal disciplines. skills Namdeb’s development consisted technicalof training on various issues, including legal compliance, security, finance,and project management. The training programme also focused on gender related and Human rights issues such as unconscious biases and sexual harassment. Seven LTIs were recorded were 2018, in mostSeven which loose of LTIs were footing and fingerrelated incidents, ten while major high or potential accidents occurred. There accidents, vehicle no were light with a positive reduction speeding in cases. The mine retained its OHSAS 18001 safety rating 2018 in major and all and minor observations identifiedin the audit were addressed. adequately Bulk sampling the of Orange River terraces commenced at Arrisdrif, and will continue which falls within 2019. in ML42, On the Southern Coastal diameter large drilling was Mine completed (SCM), and will continue 2019 in as part an of ongoing resource development strategy. Probe a sonic drilling using drill rig was conducted at Elizabeth Bay Mine and SCM. The sonic drilling operations will continue at SCM during 2019 where the programme will include geotechnical seawalls. A Reverse Circulation (RC)drilling on the drilling programme planned mine’s is for 2019 and will target raised beach deposits to the east known of beaches SCM in as on Orange as well River channels. style bulk sampling,Trench took place as part the of operations mining SCM. in Geophysical exploration comprised continuing of work on new offshoreand onshore geophysical data sets acquiredin 2017 and 2015 that resulted a robust in geophysical model for nearshore areas at SCM. The onshore bedrock elevation model was also developed, with a first pass model that was completed. The 2019 geophysical exploration plan to is acquire infill dataseismic updateto bedrock models for SCMand aid offshore targeting. Output from Namdeb 2018 in increased 34%, by from 426,000 carats produced 2017 in to 571,847 carats 2018, in despite a challenging business environment. Improved production was due to increased output from the Southern Coastal and Orange River Mines. The Elizabeth Bay Mine experienced numerous production challenges, both the in production plant as resource as well underperformance. Subsequently, Namdeb placed the Elizabeth Bay mine on care and maintenance which was also placed onthe market for sale. (XRT)A new Transmission XRT circuit was installed at Sendelingsdrif to treat tailings and coarse material. This system is due to begin production February in Overall, carat 2019. below budget, targets mainly due 24% to were challengesat the Elizabeth Bay mine and with Midwater trial mining. ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION

P.O. Box 150 Box P.O. Karibib • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$3.5 million N$400,000 AFFIRMATIVE AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 SAFETY RATING ENDAT 2018 × None % Approved ) Nil

Tel. +264 64 552 000 +264 Tel. 64 550 +264 Fax 231 LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$748.1 million N$748.1 N$466.3 million N$8.2 million Nil LATEST ESTIMATE OF MINE OF LIFE 2028

7.5% 92.5%

EPL 999 EPL EPL 3275 SHAREHOLDERS DATE OF DATE PRODUCTION START ENDEPL’S AT OF2018 MINES IN NAMIBIAMINES IN QKR Namibia Mineral Holdings (Pty) Ltd. 1989 • • JG Investment Investments (Pty) Investments JG Investment Ltd (EpangeloGold) Navachab Gold Mine (ML 31) ML 180 DETAILS PAID PAID IN 2018 LOSS IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 N$9.9 million N$9.9 N$185 million Nil million N$22.9 Managing Director: Mr George Botshiwe [email protected] www.qkrcorp.com

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 42 3

IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 PERMANENT EMPLOYEES ENDAT 2018 CONTRACTORS EMPLOYED IN KILOGRAMS GOLD OF BULLION N$23.9 million N$23.9 N$286.7 million 1 Jan to 31 Dec 31 to 1 Jan N$774.6 million 108 409 1,427 2018 FINANCIAL EMPLOYEES OUTPUT CONTACT DETAILS Successful development of satellite pits to mine small, but but small, pits mine to satellite of development Successful high-grade ores. ores. high-grade is and renewed was body ore the main covering licence Mining valid until 2033. NAVACHAB 2018 HIGHLIGHTS 2018 • Navachab gold an open mine is producing pit mine, gold refined bullion is which for sales onward at the Refinery Rand in SouthAfrica. • OPERATING COMPANIES OPERATING

42 CoM Annual Review 2018 43 CoM Annual Review 2018 OPERATING COMPANIES OPERATING The hazardous waste management system was upgraded by introducing an oil filter press at the press filter oil an introducing by upgraded was system management waste The hazardous metal to scrap sold are filters compact and oils recover to helps The press workshop. maintenance preparation A site be disposed. to needs that waste hydrocarbon of the amount reducing thereby dealers, measures control stringent enforce to and obligations all of compliance ensure to conducted was procedure areas. undisturbed previously in projects over re-drilled were in, fallen had that boreholes two existing and drilled, were boreholes monitoring new Seven impact. of vicinity the mine’s within programme the groundwater-monitoring reinforce to Navachab did not award any new bursaries in 2018, however, existing bursars continued with their studies studies with their bursars continued existing however, 2018, in bursaries new any award not did Navachab mine The studies. their completed that to beneficiaries offered were programmes training graduate and training tertiary compliance Mandatory and pursue to studies. wishing employees sponsor to continued also was provided for identified employees. Despite a cash constrained environment, Navachab continued to make significantinvestments into mile the major of One objectives. Plan Prosperity support the Harambee directly that projects community Kunene, in communities remote to water reliable and clean of the provision was 2018 in achieved stones four in the households 700 over benefited project This Regions. Omaheke and Zambezi Kavango-West, the of the biggest chunk took boreholes of installing and The drilling livestock. 15,000 over and Regions Erongo in project Karakul Namibia the QKR to contributed A further was N$300,000 CSR investment. drought. effectscontinuous of a the negative combating in assist to Region, Exploration activities focused on the satellite ore bodies with drilling conducted on six sites. The drilling The drilling sites. six on conducted with drilling bodies ore the satellite on focused activities Exploration the pipeline in are sites the remaining while completed, was bodies ore two the satellite on of programme for completion. Feasibility studies have commenced on the two completed sites. There Injuries. Minor 24 Cases and Treatment Medical seven LTIs, four recorded mine gold The Navachab to 2017 in 29.12 from dropped which (AFIR), Rate Injuries Frequency All the in in improvement an was in22.67 2018. climate economic the negative although 2018, during peaceful remained the Company at relations Labour The security. job about raised concerns with affected morale, staff negatively constraints flow cash and seeking while interest, mutual matters of discuss to with MUN forums consultative regular held mine beneficial solutionsfor both parties. 2018 proved to be a challenging year for Navachab, as cash flow constraints resulted in the suspension of suspension in the resulted constraints flow cash as Navachab, for year be a challenging to proved 2018 ore satellite smaller However, production. in drop a subsequent and body, ore the main on stripping waste empowered a locally by mined and developed successfully were deposits, higher-grade containing bodies 2018. in production Navachab’s pits sustained satellite the smaller Output from contractor. ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION

P.O. Box 585 Box P.O. Swakopmund • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$300,000 N$300,000 Orano Processing Namibia DesalinationErongo Company SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 RELATED OPERATIONS IN NAMIBIA • • Not disclosed N/a ) Nil

Tel. +264 64 720 415 +264 Tel. 64 721 415 +264 Fax LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$32.2 million n/a n/a N$33.2 million 100%

SHAREHOLDERS MINES IN NAMIBIAMINES IN Uramin Inc. Trekkopje uraniumTrekkopje mine (ML 151) DETAILS PAID PAID IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 PROFIT IN 2018 Nil n/a n/a n/a Managing Director: Hilifa Mbako [email protected] www.orano.group

TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 EXPATRIATE EMPLOYEES ENDAT 2018 Nil Nil

IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT TURNOVER IN 2018 FINANCIAL YEAR FINANCIAL CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 N$23.1 million N$23.1 million N$1.9 1 Jan to 31 Dec 31 to 1 Jan n/a 44 17 2018 CONTACT DETAILS FINANCIAL EMPLOYEES

NAMIBIA ORANO MINING Orano Mining Namibia, 100% owned Uramin Inc., by constructed the Trekkopje Orano A separate Processing mine. uranium Namibia, will convert company, the output for of the sale oxide uranium mine into Orano to clients once operations operations provided is the by cubic 20 million for thecommence. Trekkopje Water metre Desalination Erongo Plant, situated at Wlotzkasbaken. OPERATING COMPANIES OPERATING

44 CoM Annual Review 2018 45 CoM Annual Review 2018 OPERATING COMPANIES OPERATING Orano Mining Namibia Engen Usakos One Stop Sports Festival The company continued its sponsorship to a bursar studying Electrical Engineering at UNAM. at Engineering Electrical studying a bursar to its sponsorship continued The company education, development, economic of the areas in projects supporting continued Namibia Mining Orano Erongo the wider and Swakopmund, and Arandis of communities sport the neighbouring and in culture Development with the Erongo cooperation in pursued was objective development The economic Region. sport and events several sponsored Orano the region. in SMEs to loans small granting by Foundation in Education the Ministry of assisted and communities, Usakos and the Spitzkoppe in festivals cultural Region. the Erongo in schools for fair a career organising implement to spent are resources significant maintenance, and care under is project the Trekkopje While flora radiation, quality, water and air as aspects such monitor and plan management the environmental Arandis as such areas neighbouring and the mine covers which programme The monitoring fauna. and of level high a confirmed audits Independent 2018. in scheduled carried as out was Wlotzkasbaken and the for the and desalination plant mine. compliance 2018 marked the sixth year in a row that the Orano Mine recorded zero LTI’s. zero recorded Mine the Orano that a row in the sixth year marked 2018 the between company maintained were relations labour sound reported and was action industrial No and MUN. In January 2018, the Orano Group changed its name, and in Namibia, Orano Mining Namibia was was Namibia Mining Orano Namibia, in and its name, changed Group the Orano 2018, January In established in April 2018. planned, as mine Trekkopje at programme maintenance its and care implemented Namibia Mining Orano the of the demand meet to supply NamWater’s augment to continued Plant Desalination the Erongo while a milestone, reached the plant 2018, December In the coastal area. in users other and mines uranium 2010. in commissioned was it since water potable of metres cubic 40 million producing

ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY MAIN ACTIVITIES FOR 2018 Chamber of Mines Safety visit to Trekkopje IMAGE ABOVE ^ IMAGE Orano Mining Namibia (formerly AREVA Resources Namibia) awarded seven employees with long-service awards at the end of 2018.

Private Bag 2001 Pinah • Namibia Rosh

EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$4.4 million N$2 million OHSAS 18001 ISO 14001 AFFIRMATIVE AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 SAFETY RATING ENDAT 2018 % Approved ) Nil • • Tel. +264 63 274 201 63 274 +264 Tel. 209 63 274 +264 Fax

LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 Not disclosed million N$220.7 N$13.2 million Not disclosed 7.84% LATEST ESTIMATE OF LIFE OF MINE 2031 1.63%

0.57% EPL 2616 2616 MDRL DATE OF DATE PRODUCTION START ENDEPL’S AT OF2018 SHAREHOLDERS NAMIBIAMINES IN Rosh Pinah mine (ML 39) 1969 • • Travali Mining Corporation Corporation Mining Travali 89.96% PE Minerals Jaguar Investments Rosh Pinah Employee Empowerment Participation Scheme Trust DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 N$20.1 million N$20.1 Not disclosed Not disclosed Not disclosed Managing Director: Mr Christo Horn www.trevali.com/operations/rosh-pinah-mine/default.aspx

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 36 8

IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 TONNES ZINC CONCENTRATE ZINC TONNES CONCENTRATE LEAD OF TONNES N$253.2 million N$241 million N$241 1 Jan to 31 Dec 31 to 1 Jan N$1.337 billion 151 448 107,568 14,068 2018 CONTACT CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT

CORPORATION ROSH PINAH ZINC ZINC PINAH ROSH 2018 HIGHLIGHT 2018 new of the introduction as well as a LTI without days 795 Achieving ground support methodology which significantly improved the safety of underground working conditions. Rosh Pinah is an underground Pinah is mine producingRosh zinc and lead concentrates. Both lead and zinc concentrate sold are the to international market. (RPZC) OPERATING COMPANIES OPERATING

46 CoM Annual Review 2018 47 CoM Annual Review 2018 OPERATING COMPANIES OPERATING Along with Skorpion Zinc, RPZC continues to invest significantly in community up-liftment and sustainable sustainable and up-liftment community in significantly invest to continues RPZC Zinc, with Skorpion Along care, health education, to million N$4.4 contributed The Company Namibia. the South of in development development. social to committed projects sport other and dam, the tailings At the mine. of areas key at measures suppression dust of a range installed has The mine dust minimise to place in are irrigation water and netted areas the dam, surrounding berms cladding, rock pollution. dust against further to dam mitigate the tailings above created were ponds Three pollution. is assessment continuous and 2006 August in dam the tailings at erected was device monitoring A dust of watering the continuous and the crushers at system suppression a dust include Other measures ongoing. pollution dust track to area the town in installed is device monitoring A dust underground. and above roads Pinah. Rosh of residents affecting any detect and monitor to place in are programme analysis chemical water effluent and A ground occur. could that pollution groundwater affected mine parties and of interested all where forum Community Pinah part is the Rosh of RPZC concern. mutual of issues discuss and meet regularly operations A three-year agreement was concluded in the beginning of 2018, with favourable labour relations during during relations labour with favourable 2018, of the beginning in concluded was agreement A three-year improving on was further of engagements The primary focus 2018. throughout and negotiations these mine. underground class a world the status of achieving and productivity training in-house other attachments and job included which initiatives, training various undertook RPZC a relationship-building Supervisory Training, included training In-house programmes. development skills and the Namibian of application the practical on training and the union and management between workshop apprentices of number the total bringing 2018, in approved were 22 Act.apprentices Labour An additional include to Authority (NTA) Training with the Namibia agreement an signed RPZC 42. to the programme in fiveapprentices for job attachments. Exploration activities focused on underground inferred drilling, surface drilling and infill drilling. An drilling. infill and surface drilling drilling, inferred underground on focused activities Exploration identified were targets exploration various and Three, Face Wall on conducted was survey electromagnetic existing and interpretation structural processing, sensing remote through district Pinah the Rosh within data. mine. of life the current extend to is activities exploration of objective The main its OHSAS accreditation. 18001 maintained and a LTI without its year second celebrated The mine Health, Safety, with the Trevali aligned successfully were systems and safety procedures The mines and improved were support systems The underground Framework. Management Social and Environment environment. working underground a safer to contributed which extended, systems monitoring seismic Although 2018 was a challenging year for the Rosh Pinah Zinc mine in terms of output, which was 20% 20% was output, which of terms in mine Zinc Pinah the Rosh for year a challenging was 2018 Although in respectively, 1% and 10% by 2018 in increased concentrates lead and zinc of production target, below and orebody WOF the from mineralogy a different included the challenges of Some 2017. to comparison high absenteeism rates. ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION

Private Bag 5005 Swakopmund • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$13.1 million N$13.1 million N$17.0 AFFIRMATIVE AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 SAFETY RATING ENDAT 2018 % Approved ) 2 ISO 14001 certified

+264 64 3017 520 +264 3.38% Tel. +264 64 2275 520 +264 Tel. Fax LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$2.495 billion N$1.467 billion N$7.9 million N$7.9 Nil LATEST ESTIMATE OF LIFE MINE OF 2025 68.62%

MINES IN NAMIBIAMINES IN OF DATE PRODUCTION START SHAREHOLDERS Rössing mine (ML 28) 1976 Rio Tinto Iran Foreign Investment Company 15.29% Industrial Development Corporation of South Africa 10.22% Government of Namibia DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 Nil N$166.5 million Nil millionN$82.1 Managing Director: Mr Richard Storrie [email protected] www.rossing.com

EXPATRIATE EMPLOYEES ENDAT 2018 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 56 3

IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 PERMANENT EMPLOYEES ENDAT 2018 CONTRACTORS EMPLOYED IN TONNES OF URANIUM OXIDE N$76.5 million N$710.1 million 1 Jan to 31 Dec 31 to 1 Jan N$2.835 billion 938 967 2,478 2018 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT RÖSSING URANIUM RÖSSING LIMITED 2018 HIGHLIGHT 2018 concluded anRio agreement Tinto with China National Uranium its shareholding. majority sell to Corporation Rössing Uranium, which is majority owned by Rio Tinto plc, is one of Namibia’s two majority Uranium, is which Rössing Tinto owned Rio plc, by one is of Namibia’s longest producinguranium running mines open and the is pit country’s uranium beenmine has which operation in years. 42 for produces Rössing over uranium for nuclearoxide utilities power countries in signatories are which of the Nuclear Treaty. Non-Proliferation OPERATING COMPANIES OPERATING

48 CoM Annual Review 2018 49 CoM Annual Review 2018 OPERATING COMPANIES OPERATING Rössing has improved the existing environmental monitoring systems significantlyby upgrading monitoring quality air to access remote and approach management adaptive an introducing infrastructure, data, analysing and monitoring in understanding of the level increased has This data. and equipment the Seepage Control upgrading on spent was N$30million Over identified. risks on action quicker allowing waste stored space; management the waste In re-drilling. or refurbishment boreholes existing and System both awareness and rehabilitation progressive targeting a campaign through substantially reduced was community. the host within and onsite Rössing Uranium remains committed to long-term relationships that are mutually beneficial for community community for beneficial mutually are that relationships long-term to committed remains Uranium Rössing Arandis performance, social and communities for map stakeholder’s On their mine. and the beneficiaries rooves asbestos all remove to was Arandis in the primary objective 2018, In area. focus a key remained supported also mine Project. The Roofing the Arandis through its for inhabitants risks health minimise to Foundation. the Rössing through community, the Arandis in initiatives other various involves This priority identified. key another was users road other and employees The safety Rössing of supporting projects to with contributions along contractors, including the mine, at players role all by action the Arandis to equipment response emergency of the donation was initiatives these Among purpose. this homes their from cycle who employees, providing and Unit; Management & Traffic Response Emergency injured fatally been had vests, after a cyclist with visibility the town, outside just located plots to Swakop in road. the B2 on a financial through initiatives community other and Foundation the supported Rössing Rössing 2018, In in- from derived is support, allocation of the fund measures With some million. N$13 over of contribution Hepatitis to the response in health to a campaign contributions financial included These contributions. kind appoint to conference electoral their during the MUN of branch the regional supporting E outbreak, with a public Omatjete in centre youth the multipurpose supporting Committee, Executive a Regional Bay the Walvis to furniture donating and Marathon, Rössing the annual hosting system, address Kids Haven. No exploration was undertaken during the year in review. in the year during undertaken was exploration No had the year of months Five 0.35. of a target against the year, for 0.83 of AIFR an recorded Rössing Medical and LTI Seven achievable. and possible is harm zero that demonstrating injuries recordable no occurred. incidents fatal potentially four while reported, cases were treatment which 2018, during its and employees unions with the trade engagement of forums maintained Rössing environment. relations labour stable and a healthy to contributed two new awarded and 2018 in programme development skills and training its extensive upheld The mine Furthermore, respectively. Metallurgy and Engineering Electrical in degrees pursuing students to bursaries attachments trade to job 30 provided the mine and continued bursars were existing eight to sponsorship with along studies, part-time pursuing were who 34 to employees provided Support was apprentices. with its Dependent continued also The company studies. full-time with their continuing two employees Educational Support Programme, in which financialassistance was provided to employees with dependents, programme. development graduate part as the mine’s of employed were students Eight education. their for departments on operational within knowledge imparting on focused development Employee by provided training the job on of forms various involved that knowledge, and operation equipment Barloworld Caterpillar. Water supply disruptions at the beginning of 2018 curtailed mining and processing operations, resulting in in resulting operations, processing and curtailed mining 2018 of the beginning at disruptions supply Water a 17% achieved still the operation However, targets. budgeted below were that milled and mined tonnes 2018. in tonnes 2,478 to 2017 in produced cake yellow of tonnes 2,110 from increase production ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS EXPLORATION SAFETY PRODUCTION

P.O. Box 2471 2471 Box P.O. Bay • Namibia Walvis EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$730,000 N$130,000 Walvis Bay Salt Refiners (Pty) Ltd Ekango Salt Refiners (Pty) Ltd RELATED OPERATIONS IN NAMIBIA SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 • • NOSA 4 Star % Approved ) Nil

10% Tel. +264 64 213 +264 350 Tel. 64 209 +264 635Fax LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 TOTAL PROCUREMENT SPEND IN 2018 N$67 million N$54 million n/a N$8 million

DATE OF DATE PRODUCTION START SHAREHOLDERS NAMIBIAMINES IN Walvis Bay salt pan (ML 37) 1964 Walvis Bay Salt Holdings (Pty) Ltd. 100% Ltd. Mining Company EVI DETAILS PAID PAID IN 2018 PROFIT IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 Nil N$10.2 million Nil million N$2.1 Managing Director: Mr Andre Snyman [email protected] www.wbsalt.co.za

TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 EXPATRIATE EMPLOYEES ENDAT 2018 13 Nil

IN 2018 WAGES SALARIES & PAID IN 2018 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 TONNES OF RAW SALT HARVESTED N$11.1 million N$11.1 N$33.2 million 1 Jul to 31 Aug 31 to 1 Jul N$104.5 million 21 44 1,015,205 2018 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT a building block for fertilizers. Tanzania. and the US namely, export new markets, supplied The company Construction of the Walvis Bay Salt Holdings Group’s new salt salt new Group’s Bay Salt Holdings the Walvis Construction of June in commenced facilities ablution and stores plant, processing 2018. Salt & Chemicals in deal shareholding a local structure to The process is underway. the to with regards well progressed has beneficiation salt mineral of Strategy sulphate, potassium produce to order in bitterns of addition value potential SALT & CHEMICALS & SALT • 2018 HIGHLIGHTS 2018 • • • (PTY) LTD. Salt & Chemicals produces Ltd (Pty) coarse Bay through salt solar at Walvis and wind evaporation for export South to Africa other as well as international markets. The coarse salt also refined, is beneficiated, marketed distributedand at Salt and sister companies, Bay SaltChemical’s the Refiners Walvis Ekango and Refiners.Salt OPERATING COMPANIES OPERATING

50 CoM Annual Review 2018 51 CoM Annual Review 2018 OPERATING COMPANIES OPERATING The company’s Environmental Clearance Certificate Environmental The company’s successfully was (ECC) by renewedandawarded the Ministry (MET). Tourism and Environment of 2018, effortsIn environmental a in 2018,of which spills directed oil of to were the and monitoringmanaging concern, the issues public addressing reported, of company In were total six of investigated cleaned-up. and investigationthorough a through reports, engagement such of improved meetingsfeedback by followed whereby provided to concernedwas parties. Bay the on Salt represented Mines Chamber also of was Holdings Walvis CommitteeEnvironmental the in Management Demand formulation targets involved and of the for Water industry. effort ongoing an each is businessfor unit with installationthe planned of separate water meters. Information the in and Dorob boards tourist to direct other and local visitors Sandwich the to reach area, Paaltjies harbour, behalf MET. on sponsored, of also were National Park The transport company continued providing attending as Kids the to special needs well Centre, as Sunshine children their care givers teachers and from their to and homes the and N$175,000 to the of per schools a on annum, value Bay Mathematics Salt the the also sponsor for was main Namibian basis. Holdings Walvis daily Education Project. extend their community support impact,To beyond their regional the company partnered with Standard Bank in initiative, with thesupport N$40,000 of sponsorship their Buy-a-Brick of to construct Bay Salt Walvis one house. to continue this partnership intends Holdings years. the in following Furthermore, a donation made to the was ‘Offset’ fund thatestablishedwas in partnership between the Chamber with Environment, Chamber funds pooling of country-wide on the Mines of the and of aim Namibia projectsthat extendedhave impact. greater and reach Supervisory and training development identifiedskills were for management as areas target mid-level and to assess order in competencies and core interventions. to evaluate their relevance taken also was A decision with operations, 2020. continue till alignment will which to the internships several trades, commitment introducing in apprentices as to take on well as The company’s further domain, development and learning with their aligns strategy existing employees, for skills develop only to not 2018. in three and Thebut internships future for too. potential company provided 20 apprenticeships All with employees dependants attending school tertiary and withtertiary institutions assisted also financially, are students a payment for N$6,500 of eligible The total per this assistance annum. spend of 2018 in N$92,000. was The operation recorded a significant improvement in the number LTI’s which fell from eight in 2017 to four in 2018.in 2017 four to eight fell from which LTI’s Thein operation number the recorded a significantimprovement Other incidents reported three included medical treatment withinjuries, no restricted work, 14 and first aid cases. safetyThe annual the in held was awareness day second quarter 2018, placed was of a strong and in emphasis contractors and employees all training issues on practices and with safety, of medical surveillance ongoing. The 4 Star efforts NOSA accreditation testament is to thesafetyimprove and uphold company’s to standards, a five for aims starwhich ratingin 2019. Labour stable were relations 2018, during with interactions with regular the Branch Executive Committee. Quarterly Management feedback sessions informed that the on continued are ensured employees and company’s performance development. and Continuous communication facilitated is morning meetings through between supervisors meeting a coordination by their then teams, and and followed between immediately the supervisors and the operations interaction concerns managers. to act management allows any raised on This regular at the shop floor level. In 2018,In the harvest maiden the of new ponds from the project 2015 expansion produced tonnes of 150,000 salt.unwashed contributed This largely salt to the in increase production from 735,205 salt unwashed tonnes of in 2018. in tonnes 2017 one million over to just production, in evaporation low rates output final Despite the in resulted improvement year on year lower 11% being caused rainfall than abnormallyhigh budgeted, damage to the while pond system loss and brine. of ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY PRODUCTION

Private Bag 2003 Pinah • Namibia Rosh EXPENDITURE EXPENDITURE ON CSR IN2018/19 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018/19 N$5.3 million N$478,000 Skorpion Mining Company (Pty) Ltd. ISO 9001: 2015, 14001: 2004 OSHAS: 18001: 2007 Namzinc (Pty) Ltd. SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 RELATED OPERATIONS IN NAMIBIA • • % Approved ) Nil • •

Tel. +264 63 271 +264 2380 Tel. 63 271 +264 Fax 2526 LOCAL PROCUREMENT PROCUREMENT LOCAL SPEND IN 2018/19 EXPORT LEVY PAID IN 2018/19 DIVIDENDS PAID IN 2018/19 TOTAL PROCUREMENT SPEND IN 2018/19 N$2.24 billion N$1.27 billion Nil Nil LATEST ESTIMATE OF MINE OF LIFE 2020

100%

EPL 2229 EPL EPL 4608 EPL 5263 EPL 5283 EPL’S AT ENDEPL’S AT OF2018 SHAREHOLDERS NAMIBIAMINES IN OF DATE PRODUCTION START 2014 • • • • Vedanta Resources plc through its subsidiary company Vedanta Limited Skorpion Zinc Mine (ML 108 and ML 127) DETAILS PAID PAID IN 2018/19 PROFIT IN 2018/19 CORPORATE TAX ROYALTIES PAID IN 2018/19 EXPLORATION EXPLORATION EXPENDITURE IN 2018/19 N$19.2 million N$19.2 N$238 million Nil million N$20.1 General Irvinne Manager: Simataa Mr. [email protected] www.vedanta-zincinternational.com

EXPATRIATE EMPLOYEES ENDAT 2018/19 TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018/19 3 15

IN 2018/19 WAGES SALARIES & PAID IN 2018/19 FIXED INVESTMENT FINANCIAL YEAR FINANCIAL TURNOVER IN 2018/19 PERMANENT EMPLOYEES ENDAT 2018/19 CONTRACTORS EMPLOYED IN TONNES OF SPECIAL SPECIAL OF TONNES HIGH GRADE ZINC N$150.6 million N$150.6 1 Apr to 1 Mar 1 Apr to N$2.645 billion 1044 594 65,993 N$343 million 2018/19 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT SKORPION ZINC SKORPION Financial Year. 2018 HIGHLIGHT2018 allow will activities pre-stripping 112 Pit of completion The successful capacity the next in production plate name reach to Skorpion Skorpion Zinc (Pty) Ltd’s (SZ) OpenSkorpion Zinc Ltd’s (Pty) pit mine and Namzinc Refinery produces Special High Grade Zinc for export (SHG) world to markets. (PTY) LTD. OPERATING COMPANIES OPERATING

52 CoM Annual Review 2018 53 CoM Annual Review 2018 OPERATING COMPANIES OPERATING The focus of environmental rehabilitation and management was on updating the Skorpion Zinc Mine Closure Plan to Plan updating on was rehabilitation the management MineThe Closure and environmental Zinc of Skorpion focus close outstanding proceedings. confidenceclosure in overall the information improve and gaps estimatingThis included the cost infrastructure of the as physical social, well biological costs and as closure. of An assessment conducted also was the portion of Zinc Skorpion associated town and Pinah the facilities of Rosh infrastructureand outside lease areas. the mining SZ retained its 14001:2015 ISO Certificationsuccessfullyand renewed its ClearanceEnvironmental Certificatefor and transportation 4608 theEPL for and off-loading ore from oxide the Lüderitz of zinc harbour to the Skorpion Zinc mine. SZ strives that their investments to ensure extend but beyond mining, benefits Pinah, Rosh of the communities All the and SZ nation CSR at large. consultation Region interventions of a result with are thethe //Kharas greater communities. Therelevant community process, engagement baseline studies needs and alongside assessments, focuses open honest on and interaction with stakeholders CSR with programmes to align community development requirements. The company positively impacted healthcare, through education livelihoods, platforms development skill and portionlarge A education towards of budgetwent this theyear. investment for an N$5.3through financial million sportsand development. The hosted company once again sponsored the and 17 Soccer also and Under Cup, Women Federation’s Football sport the through women empowered Namibia towards sponsorship their generous in Super League. //Kharas assistance continuedGovernor’s financial to receive region the through SZ Students the in //Kharas Bursary Other support of Fund. areas projects sustainable livelihoods include the as such Goat Project, Community Project theGarden and Leather project. SZ partners also Annually, with the Ministry Health of Social and Services Dentists and Without Limits Foundation dental care communities. services providing in surrounding and Pinah Rosh in The labour relations climate was relatively stable was The climate relations the during labour reporting period. Salary wage and negotiations were successful SZ continues to have and management year. financial the in be following concluded implemented will and engagements strengthenedunion and that improved have with the by Union registered was One relations. dispute withdrawn. this was however, the Labour Commissioner, As part industry the its Graduates 18 of mining company employed in programme, graduate development related support apprentices.In fields. eight interns and employed also in SZ region, five of localthe development skill study assistanceThe part-time scheme supported tertiary pursuing employees 25 qualifications at various institutions. externally. and internally than More 300 received from have the training employees company, The Explorationand Zinc Skorpion drilling exploration mineralization team completed brownfields for zinc through exploration 2018. and in geophysical licences the Ground on sampling mining surveys Vedanta completed. also were exploration both International continues in projects to invest greenfield to develop Zinc and brownfield Namibia. in SZ successfully maintained their OHSAS 18001 certification overall safetyimproved their and ratingas confirmed employees The injured the audit. operation annual an recorded No fatalities LTI’s. seven by reported, were however, made a full recovery to their duties. to return able were and with employees equips and review continuous the under is Management Programme The Risk Zinc Skorpion detailed assessments risk to ensure tools management risk relevant conducted high-risk potential are all on activities. medical The through basis ongoing occupational health an and on monitored is employees of hygiene surveillance programmes in terms of their specific exposures and minimum medical fitness requirements. There was a sharp drop in production in from a sharpThere 84,215 drop was 2018, in tonnes 2017 of account on in tonnes to 65,993 the envisaged pre-stripping SZ activities embraced this opportunity other factors. among However, to prepare collaboration have and innovation which newtechnology, leveraging through production nameplate for 2019, in earth material rare handling, in challenges overcome elements & impurity management, slope stability management, concentrate and processing. labour, Further to the Pit the other opportunities current 112, company continues to explore to extend the mine. of life ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION

Private Bag 8667 Windhoek • Namibia EXPENDITURE EXPENDITURE ON CSR IN2018 EXPENDITURE ON SKILLS TRAINING & DEVELOPMENT IN 2018 N$1.723 millionN$1.723 N$14.784 million NOSA 3 Star OHSAS 18001 ISO 14001 & 9001 SAFETY RATING ENDAT 2018 AFFIRMATIVE PLAN ACTION BURSARIES AWARDED IN 2018 • • • % Approved ) 3

10% 90% Tel. +264 64 9000 410 +264 Tel. 64 9001 410 +264 Fax LATEST ESTIMATE OF MINE OF LIFE 2036 TOTAL PROCUREMENT SPEND IN 2018 PROCUREMENT LOCAL SPEND IN 2018 EXPORT LEVY PAID IN 2018 DIVIDENDS PAID IN 2018 N$3.973 billionN$3.973 N$2.210 billion N$15.1 million N$15.1 Nil

EPL 3138 EPL 3439 EPL’S AT ENDEPL’S AT OF2018 SHAREHOLDERS DATE OF DATE PRODUCTION START MINES IN NAMIBIAMINES IN 2016 • • China General Nuclear Mining Company Epangelo Husab mine ML 171 DETAILS PAID PAID IN 2018 LOSS IN 2018 CORPORATE TAX ROYALTIES PAID IN 2018 EXPLORATION EXPLORATION EXPENDITURE IN 2018 N$1.4 million N$5.374 billion N$5.374 Nil millionN$62.1 CEO: Mr CAI Yusheng MrCEO: CAI Yusheng [email protected]

TEMPORARY TEMPORARY EMPLOYEES ENDAT 2018 EXPATRIATE EMPLOYEES ENDAT 2018 40 70

FIXED INVESTMENT IN 2018 WAGES SALARIES & PAID IN 2018 FINANCIAL YEAR FINANCIAL TURNOVER IN 2018 CONTRACTORS CONTRACTORS EMPLOYED IN PERMANENT EMPLOYEES ENDAT 2018 TONNES OF URANIUM OXIDE N$556 million N$4.691 billion N$810.2 million 1 Jan to 31 Dec 31 to 1 Jan 1,582 720 3,571 2018 CONTACT DETAILS FINANCIAL EMPLOYEES OUTPUT SWAKOP URANIUM SWAKOP 2018 HIGHLIGHT2018 up the ramping on progress significant made (SU) Uranium Swakop were that rates production achieved which plant itsof processing above target. Swakop Uranium (SU) Uranium representsSwakop a partnershipbetween the of Namibia, Republic represented Epangelo by Mining Company and China General Nuclear of the Republic of China. The interaction has nurturedPeople’s a unique in which culture, employees fromboth countries learn fromeach other breed to High Performance a quality and success. excellence, of Culture The Company completed the construction of its world class Husab uranium mine, located near on the Swakopmund west coast and of gearing Namibia is to up become one of the largest mines uranium the in world. (PTY) LTD. OPERATING COMPANIES OPERATING

54 CoM Annual Review 2018 55 CoM Annual Review 2018 OPERATING COMPANIES OPERATING One of the main environmental activities in 2018 involved amending the EIA to accommodate developing developing accommodate to the EIA amending involved 2018 in activities environmental the main of One MET in to August. The report submitted scoping with the final site, the mine at infrastructure additional the Husab for Pond Water Raw additional an of the construction for issued and amended also was ECC mine processing plant. Stakeholder engagement on environmental issues continued through various platforms which included Mines of the Chamber and (NUI) Institute Uranium Namibia (NUA), Association Uranium the Namibia with communities local discussions included also the NUI of groups Working Committee. Environmental with uranium associated concerns environmental address collectively to Rivers, Kahn and the Swakop in region. the Erongo in mining In 2018, through the Swakop Uranium Foundation, SU donated a total of 1,000 beds, mattresses and mattresses and beds, 1,000 of a total donated SU Foundation, Uranium the Swakop through 2018, In in communities to poorer furtherfordistribution Governor Regional Erongo the Office to ofthe blankets supportOne of the in First the OfficeLady, to ofthe donated were beds 200 An additional the region. Foundation. Economy northern and region the Erongo in development education support of in N$500,000 over spent The mine the as well as infrastructure, school of maintenance and the upgrading towards went The funds Namibia. extra an learning is which School Spring the Annual during programmes fund to Education of Directorate examinations). External 10 national (Grade the JSC of preparation in support initiative well-being and lifestyles support healthy to Marathon, the Husab hosted again once Uranium Swakop among employees and the broader community. In 2018, all aspects of labour relations remained sound with management and the union committed to to committed the union and with management sound remained relations labour aspects of all 2018, In held. meetings monthly with regular solutions, win-win and engagements positive and Engineering Mining Engineering, Electrical of the fields in bursaries three awarded SU 2018, In 19 while appointed, were graduates new Ten internships. with industrial students 42 provided and Surveying roles. substantive in employed were intake the first from graduates hydraulics, advanced and basic in training of the provision in artisan skills develop to continued SU mechanical and electrical maintenance for drills and shovels, and electrical heavy vehicle training. refresher attended employees of the majority and priority, a top remained environment working A safe positions management in employees while roles, particular their in practices working safe in courses the OHSAS 14001 safety and 19001 18001 & the ISO standards. in training received SU’s exploration activities consisted of a resource drilling programme on Zone 6, within EPL 3138. The 3138. EPL within 6, Zone on programme drilling a resource of consisted activities exploration SU’s analysis. for logged sent and geologically was drilling truck a haul Gaoseb, Mr Manfred whereby incident, a fatal recorded regrettably SU 2018, 29On October, the of the highwall against collided and truck the haul of control lost he when injured fatally was operator pit. 2 open Zone rating NOSA Their 2018. in three to 2017 in six from LTI’s of the number in a decrease recorded The mine recertified also with its 14001ISO was 9001and & and 3 Star to 2 Star from upgraded successfully was OHSAS ratings. 18001 The Husab mine recorded a significant increase in production from 1,345 tonnes of yellow cake in 2017 in cake yellow of 1,345 tonnes from production in increase a significant recorded mine The Husab activities up ramping and completed were the plant on activities construction as 2018, in 3,571to tonnes once plant, the processing of control full assumed team The operational successfully. progressed with the associated bottlenecks and challenges technical many overcoming completed, was construction plant. a large such of engineering ENVIRONMENT COMMUNITY RELATIONS EDUCATION EDUCATION AND SKILLS LABOUR RELATIONS SAFETY EXPLORATION PRODUCTION OPERATING COMPANIES

NAMDEB HOLDINGS (PTY) LTD.

Namdeb Holdings is 50% owned by the Government of the Republic of Namibia and 50% by De Beers. Namdeb Holdings is the holding company for Namdeb and Debmarine Namibia, with a 100% shareholding in each. Namdeb Holdings has long- term mining concessions in the south west of Namibia both on land and offshore, adjacent to the Orange River and offshore in the shallow waters. Namdeb Diamond Corporation is the exploration and the mining operator for all land-based licences of Namdeb Holdings, with the exception of the deep off shore mining licences.

DETAILS SHAREHOLDERS WHOLLY OWNED SUBSIDIARIES De Beers 50% De Beers Marine Namibia (Pty) Ltd., trading name: Debmarine Namibia Nambian Government 50% Namdeb Diamond Corporation (Pty) CONCESSIONS IN NAMIBIA Ltd. Orange River (ML 42) Mining Area 1 (ML 43) GRN DE BEERS GROUP 56 Bogenfels (ML 44)

CoM Review Annual 2018 Elizabeth Bay (ML 45) Douglas Bay (ML 46) NAMDEB Atlantic 1 (ML 47) HOLDINGS Midwater (ML 128 A, B and C)

DATE OF PRODUCTION START NAMDEB DBMN Mining Area No 1 – 1928 Orange River – 1990 Atlantic 1 – 1990 Elizabeth Bay – 1991 Daberas – 1990 Bogenfels – 2007 Sendelingsdrif – 2015

FINANCIAL FINANCIAL YEAR EXPLORATION EXPORT LEVY EXPENDITURE EXPENDITURE IN 2018 PAID IN 2018 ON CSR IN 2018 1 Jan to 31 Dec N$292 million N$141 million n/a TURNOVER IN 2018 PROFIT IN 2018 DIVIDENDS EXPENDITURE ON TRAINING N$13.282 billion PAID IN 2018 & SKILLS DEVELOPMENT IN Not disclosed N$800 million 2018 n/a WAGES & SALARIES CORPORATE TAX TOTAL PROCUREMENT PAID IN 2018 PAID IN 2018 SPEND IN 2018 N$1.898 billion N$1.571 billion n/a FIXED INVESTMENT ROYALTIES LOCAL PROCUREMENT IN 2018 PAID IN 2018 SPEND IN 2018 N$1.092 billion N$1.328 billion n/a 57 CoM Annual Review 2018 P.O. Box 90757, Klein Windhoek 90757, Box P.O. Windhoek • Namibia A Bankable Feasibility Study (BFS) for the Phase 2 project 2 project the Phase for (BFS) Study Feasibility A Bankable entail 2 will Phase 2019. of half the second for planned is to envisaged is which mine, the Uis of operation full-scale 400 jobs. to 300 create and 2021 June in commence the historic validating on focused activities Exploration the V1 V2 pegmatites. and over resource to prescribes AfriTin contribution, its of broader terms In the principle of Namibian preferential procurement, whereby preference is given to businesses with Namibian ownership services. and goods of the procurement in demographics four providing in development skills to contributed also They the fourth in quarter work with vacation graduates school for internships provide to place in are plans and 2018 of to given also is preference Recruitment 2019. in students community the local its through miners supports the small The company to intends and concentrate tin purchasing of programme uplift the surrounding Uis community by developing other potential deposits.

Mine Manager: Ralf Schommarz www.AfriTinmining.com

ML 134 ML 133 ML 129 EPL 5445 EPL 5670 CONTACT DETAILS

NAMIBIA AFRITIN MINING MAIN ACTIVITIES2018 IN DETAILS CURRENT EXPLORATION LICENCES EXPLORATION CURRENT CURRENT MINING LICENCES In consultation with its engineering consultants, AfriTin AfriTin consultants, with its engineering consultation In components two additional install to the decision took throughput plant increase To Plant. 1 Pilot the Phase to separation medium dense a third capacity flexibility, and a magnetic addition, In procured. been has section (DMS) addition This the plant. in be installed will circuit separation concentrate tantalum produce to the plant allow will the primaryalongside tin The concentrate. plant improvements are expected to increase revenue generation than sooner commencing production in result and capacity, the second in expected with first concentrate anticipated, quarter of 2019. The primary crushing circuit was commissioned, and first material was crushed and stockpiled. Following the start of civil construction works in June 2018, 2018, June in the start works construction civil of Following in mine the Uis rehabilitated and prepared the Company and commissioning Plant 1 Pilot the Phase of preparation of blast The first large-scale concentrate. tin of production 2018. December in place took material mining • • • • • (PTY) LTD. DEVELOPMENT COMPANIES P.O. Box 90898, Box Klein Windhoek P.O. Windhoek • Namibia Tel. +264 61 301 990 61 +264 Tel. Desert Lion Energy declared its Maiden Resource Estimate, Estimate, Resource its Maiden declared Desert Energy Lion in October(MRE), 2018, followed by the completion of 2018, November in Assessment, (PRE), Economic a Pre- confirming positive project economics, which covers mining carbonateoperations, concentrate lithium and production. in conducted also was programme exploration An extensive diamond 78 and holes 31 drilling of RC consisted which 2018 drilling holes totalling 2,486 metres and 8,342 metres a determine to the company enabled This respectively. Resource. Mineral compliant JORC maiden of training operations, of nature the start-up to Due Aid, First Safety, in provided was contractors and employees Environmental Awareness and computer software skills. to points off-take water and water provided The company situated are operations where the farm on farmers resettled boreholes potential locate to Council the local assisted and the to a sponsor also Desert was Lion supply. water for half-marathon. Navachab CEO: Tim Johnston Tim CEO: COO: Johan Coetzee [email protected] www.desertlionenergy.com

ML 204 EPL 5439 EPL 5718

CONTACT DETAILS DESERT LION ENERGY DETAILS CURRENT EXPLORATION LICENCES EXPLORATION CURRENT CURRENT MINING LICENCES • • • (PTY) LTD. DEVELOPMENT COMPANIES MAIN ACTIVITIES2018 IN In 2018, the company successfully shipped 30,000 tonnes tonnes 30,000 shipped successfully the company 2018, In a Chinese purchaser, its to off-take sortedof lithium mining 2018, of half the second In converter. lepidolite drop sharp and a sudden following suspended were activities events, of unfolding the negative Despite prices. lithium in and 2018 August in Licence its Mining received the company development. project future for US$6 million raised The Environmental Impact Assessment and Environmental approval for submitted and completed was Plan Management and approved were documents compliance All MET. by Certificate Clearance its Environmental Desert received Lion by MET. Desert Lion is an emerging lithium development company company development lithium emerging an Desert is Lion Namibia’s building on focused producer, early-stage an and officially The company mine. lithium scale first large Rubicon and Helikon the old over rights mineral acquired profile with cost commenced and 2017 in early mines studies, permit applications and other development activities the year. same in piles stock old from mining commence to

58 CoM Annual Review 2018 59 CoM Annual Review 2018

P.O. Box 7185 Box P.O. Swakopmund • Namibia Tel. +264 64 250 426 +264 Tel. 64 251 426 +264 Fax mine life. The drop in the prices for lead and zinc concentrates concentrates zinc and lead for the prices in The drop zinc of charges treatment in the increase and 2018, in concentrates, put have the project economics under remain to aiming still is the company However, pressure. and cycle the investment during position positive a cash in is state production Steady phases. ramp-up production is mine of The life mid-2019. in be reached to expected to known are orebodies but years, 8 at defined currently longer a much indicating depth, at and strike on extend NLZM used the NLZM Community Empowerment Trust, NLZM Trust, the NLZM used Empowerment Community a conduit is and the mine, in shareholding a 5% has which efforts such focus its poorer on for will CSR activities, To regions. the Northern Erongo in and communities be will N$668,000 which accumulated the trust has date, of the Board by identified worthy as to causes directed assessed being currently are projects of A number Trustees. prior to investment. samples, removing by rehabilitated were sites Exploration inspections Regular holes. of capping and tracks of closing conducted towere assess with compliance regulations, standards and theEnvironmental Management Plan (EMP). Groundwater monitoring was conducted to monitor water are facilities storage water waste while quality, and levels of spraying regular by applied is suppression Dust place. in procedure management a spill NLZMroads. established has any of the event in contamination water and soil prevent to unforeseen and spills related incidents. Managing Director: Dag Kullmann [email protected] www.northriverresources.com www.namibleadzinc.com

ML 185 EPL 2902 5075 EPL CONTACT DETAILS

MINING NAMIB LEAD ZINC & MAIN ACTIVITIES2018 IN DETAILS CURRENT EXPLORATION LICENCES EXPLORATION CURRENT CURRENT MINING LICENCES Following the approval and receipt of project funding in Construction and Procurement Engineering, an 2018, March construction. with plant commence to signed was contract June 12 on held was ceremony An Ground-Breaking official commenced development mine underground 2018, while the North of with rehabilitation 2018, May in earlier Portal and main decline ramp. The crushing and milling main All November. in erected were the plant of sections & electricity and water bulk including infrastructure site First the year. of the end towards completed were buildings the in expected is concentrate zinc and lead of production 2019. of quarter second Reconnaissance drilling was conducted on the surrounding for planned is drilling Follow-up 5075. EPL and 2902 EPL targets. several on 2019 time lost with zero safety incidents major no were There accidents recorded during mine development activities no also were There Mine. Zinc and Lead the Namib at period. this cases during treatment prepare to 2018, in run was campaign recruitment A major The recruitment starting activities 2019. in production for skills capable and with competent a success, was process the at site on 73 had employees The mine available. locally 146 in of a total employ to expecting is and 2018, of end on worked contractors 140 to Up 2019. of half the second all for provided was Training construction. during the project equipment operators as well as for the finance department programme. Sage the new Accounting on • • • (PTY) LTD. DEVELOPMENT COMPANIES P.O. Box 2854 Box P.O. Swakopmund • Namibia Tel. +264 64 200 416 +264 Tel. 64 240 416 +264 Fax The company spent approximately N$506,000 on CSR CSR on N$506,000 approximately spent The company education, of areas on its focus continuing activities, related the 8th included upliftment. This community and tourism Assistance Scheme Learner the Early running of year Arts with Education, the Ministry of and Partnership in children primary school underprivileged whereby Culture and bags school uniforms, with school assistance receive Minister the Honourable from a request Following shoes. the expanded Resources Bannerman Energy, and Mines of in learners 300 Over Region. the Erongo outside program 2018. in the program from benefited Region the Omaheke assistance received have scholars 2,300 than more date, To communities to visits several Following scheme. this through Bannerman area, the Brandberg in miners small-scale of to available infrastructure partnered improve to with the GIZ Bannerman the region. in tourism promote and the miners ‘Offset’ Mines of the Chamber to contributions made also the two involving supporting projects is that initiative the Zambezi in two in villages houses of electrification in communities poorer for land of the servicing and Region district. Oshakati the with the Erongo its involvement continued Bannerman with support special Foundation, to Development provided from adults young whereby Program the Apprenticeship diplomas trade their obtain to assisted are communities poor at NIMT.

Managing Director: Ewald Mr Werner [email protected] www.bannermanresources.com.au

EPL 3345 EPL MDRL 3345 CONTACT DETAILS NAMIBIA MINING RESOURCES RESOURCES MINING BANNERMAN MAIN ACTIVITIES2018 IN DETAILS ETANGO PROJECT CURRENT MINING LICENCES LICENCES EXPLORATION CURRENT Employees attended radiation officer training at the NUI and and the NUI at officer training radiation attended Employees International the new on training received the accountant Financial Reporting Standards. The company celebrated its eighth year without an LTI LTI an without year its eighth celebrated The company the in safety competition Mines of the Chamber won and in year a second for companies category exploration for Labour relations one remained employee stable, however, activity less the company. to due within retrenched was Exploration activities consisted of reconnaissance drilling, drilling, reconnaissance of consisted activities Exploration ore satellite 3345 identify possible to EPL on 953metres, of Plant. Processing the Etango into feed could that bodies the in be announced will programme the drilling of Results 2019. of first quarter a row. Bannerman’s highlight for 2018Bannerman’s was the successful proved which study Membrane the Etango of conclusion flowsheet a nano-filtration by followed exchange ion that costs reagent reduce significantly to the potential has be will results These savings. capital with forecast along update (DFS) Study Feasibility the Definitive in included by continued the DFS on work Overall, underway. currently and optimisation schedule process and a mine commencing work This parameters. input the cost of further refinement will continue in 2019. • • EXPLORATION COMPANIES EXPLORATION

60 CoM Annual Review 2018 61 CoM Annual Review 2018

Tel. +264 61 225 826 61 +264 Tel. 225 304 61 +264 Fax completion of the Pre-Feasibility Study. The focus of current current of The focus Study. the Pre-Feasibility of completion such Study the Pre-Feasibility of elements key are activities as Environmental Impact Assessment, mine plan and mine schedule as well as further metallurgical testwork. enjoyed the company contractors, its main Through Local areas. project the active in relations labour stable with the project involved extensively been have communities preparation, its since from ground development inception, drilling, sampling and through training to build local skills. the Ombazu for borehole a water drilled Resources Celsius and safe to with access residents providing community, the equipped and built The company water. drinking clean accommodates which Okondaurie, at Pre-school Celsius age. of years nine to three are who learners 35 Results from the scoping study will pave the way for the the for the way pave will study the scoping from Results

Project Director: Pine van Wyk [email protected] www.celsiusresources.com.au

EPL 4346 EPL 4350 EPL EPL 4351 EPL 4540 CONTACT DETAILS

RESOURCES CELSIUS MAIN ACTIVITIES2018 IN DETAILS OPUWO COBALT PROJECT CURRENT MINING LICENCES The company intends to include these results in updates of of updates in results these include to intends The company 2019. in study the scoping and Resources the Mineral and 0.43% zinc, at a cut-off grade of 0.06% cobalt. cobalt. 0.06% of grade a cut-off at zinc, 0.43% and target a new identified also programme drilling A recent that extended has to the mineralisation northwest the of resource. maiden A maiden JORC Compliant Indicated and Inferred Mineral Mineral Inferred and Indicated Compliant JORC A maiden comprising April 2018 16 on announced was Resource copper 0.41% cobalt, 0.11% grading tonnes, million 112.4 Celsius Resources is aiming to define a long-life, reliable reliable a long-life, define to aiming is Resources Celsius owns The company Opuwo. at cobalt conflict-free of source the in situated is which Cobalt project, the Opuwo of 95% Kunene partner, Its Region. Gecko Namibian Joint Venture work exploration conducting and Exploration, all managing is drilling Exploration the project. on activities related and the year. throughout continued • • • • (PTY) LTD. EXPLORATION COMPANIES EXPLORATION Private Bag12012, Ausspannplatz Windhoek • Namibia Tel. +618 9382 8822 9382 +618 Tel. Surface samples collected by the company on the the on the company by collected Surfacesamples values surface copper high confirmed project Hagenhof and higher above normal mineralisation of gold and cobalt. on focus will exploration planned of focus The immediate the as well as samples soil and rock the pending interpreting historical data. it as with communities local working on focused is Damaran conducts The concerned exploration. is company with issues by held perception the negative and access land to relating to a risk poses that Namibia in exploration on landowners future and planned exploration.

CEO: MatthewCEO: Bowles [email protected] tangaresources.com.au

EPL 6226 4728 EPL CONTACT DETAILS

NAMIBIA DAMARAN EXPLORATION MAIN ACTIVITIES2018 IN DETAILS JOUMBIRA AND HAGENHOF AND JOUMBIRA COPPER-COBALT PROJECTS PENDING RENEWAL OF LICENCE CURRENT MINING LICENCES Exploration activities for the year were focused on the the on focused were the year for activities Exploration Joumbira project to confirm results from historical drilling. 1,600 of with a total holes RC seven of consisted This 887 of with a total holes diamond six and drilled metres and lead zinc, significant confirmed which drilled metres the on focused exploration Prior mineralisation. silver identified has the company and area, target immediate with the licence of areas other in targets drilling additional substantial potential. Damaran Exploration Namibia, which is owned by Australian project, the Joumbira owns Resources Tanga company listed the as well as company Mining with partnership Epangelo in Hagenhof Copper-Cobalt project. TheCompany recently over with Epangelo further a agreement in earn announced Copper-Cobalt the Hagenhof of south licences of a number zinc-lead- advanced an is project The Joumbira Project. which region, the Otjozondupa in situated project silver a highly is project The Hagenhof 2002. in explored last was prospective deposit copper-cobalt situated in the Damara acquired was and Windhoek from away kilometres Belt, 190 by Damaran Resources in 2018. • • (PTY) LTD. EXPLORATION COMPANIES EXPLORATION

62 CoM Annual Review 2018 63 CoM Annual Review 2018 P.O. Box 90242, Klein Windhoek 90242, Box P.O. Windhoek • Namibia Tel. +264 61 238 810 61 +264 Tel. 8 6555 +61 1816 Tel. The 2017 Scoping Study on the Marenica Uranium Project Project Uranium the Marenica on Study Scoping The 2017 and capital process, the U-pgrade™ using when that found 50% approximately by be reduced costs could operating compared to conventional processing. projects, uranium surficial to applicable only is U-pgrade™ Rossing. as such deposits rock hard to not Marenica believes it can revolutionise Namibian surficial and capital processing reducing by processing uranium more much projects lower-grade costs making by operating competitive and financially viable. The cost reductions expand to a catalyst Marenica for are U-pgrade™ by created projects. exploration similar seek portfolioits and project geological extensive an completed Marenica 2018, In analysis and identified areas that are highly prospective Marenica As a result, mineralisation. uranium surficial for seven for applied has and 72 project the Mile purchased EPL’s. 72 project the Mile at drilling commence to plans Marenica 2019. the of first quarter in Managing Director: Murray Hill [email protected] www.marenicaenergy.com.au

EPL 3308EPL EPL 6987 EPL 6988 EPL 7278 EPL 7279 EPL 7368 EPL 7435 EPL 7436 MDRL 3287

CONTACT DETAILS MARENICA ENERGY LTD. MAIN ACTIVITIES2018 IN DETAILS PENDING NEW LICENCES PENDING RENEWAL OF LICENCE CURRENT MINING LICENCES Rejecting more than 95% of the mass of ore, prior to to prior ore, of the mass of 95% than more Rejecting concentrate. high-grade a low-volume produces leaching, of 5% than less means this perspective, cost a capital From the reducing thereby plant, the leach through goes the ore the cost. capital From hence and the plant of size physical power in a reduction means it perspective, cost operating an ultimately and tear and wear usage, reagent consumption, mean reductions these Combined, dam. tailings a smaller savings. cost project massive U-pgrade™ is Marenica’s wholly owned intellectual property property intellectual owned wholly Marenica’s is U-pgrade™ project. Uranium the Marenica on developed was that utilising by the mass of 95% than greater rejects U-pgrade™ unit beneficiation understood well and used commonly minerals. bearing the non-uranium remove that processes Namibian calcrete hosted uranium ores are characterised by the removes process U-pgrade™ andthe carbonates and clay the concentrate means which minerals, carbonate and clay leach “acid cost lower and the simpler using can be leached process”. Marenica Energy Ltd is an Australian listed exploration exploration listed Australian an is Ltd Energy Marenica exploration uranium focus, of areas with two broad company and integration of its patented breakthrough beneficiation U-pgrade™. called process • • • • • • • • • EXPLORATION COMPANIES EXPLORATION Tel. +264 61 225 826 61 +264 Tel. 225 304 61 +264 Fax similar to the DOF mineralization which hosts the Opuwo hosts the Opuwo which mineralization theDOF to similar Widespread Resources). (Celsius deposit Cobalt Copper with the Okanihova associated also is mineralization copper grades higher targeting is the Company where lineament that canbe of economic significance. bulk been also has project tantalum-niobium The Epembe South to XRT Africa for delivered tonnes with 25 sampled These Lofdal. to similar planned sorter work test XRF and and operating lowering at aimed tests are metallurgical operations. mining future costscapital for stage early carried initial out also has The Company surveys on sampling soil with regional work reconnaissance the Damaran in and Warmbad at south its the far in EPLs Gold Belt. with the Opuwo relations excellent maintained The Company its the Sunrise support to continued and communities with the Khorixas engaged also They Khorixas. in Orphanage for farmers local and Authorities Traditional Council, Town support direct aspects. provide They various on assistance water of operation and maintenance for farms local to supply systems.

CEO: PineCEO: van Wyk [email protected] www.namibiacriticalmetals.com EPL 5992 EPL 6439 EPL 6440 EPL 6561 EPL 6903 7133 EPL ML 200 • • • • • • •

EPL 3400 EPL EPL 3825 EPL 5885 EPL 7132 MDRL 3299 EPL 4136 EPL 4347 5601EPL EPL 5773 EPL 5847

CONTACT DETAILS NAMIBIA CRITICAL METALS MAIN ACTIVITIES2018 IN DETAILS KUNENE COPPER-COBALT PROJECTS LOFDAL RARE EARTHS, WARMBAD AND AND RARE EARTHS, WARMBAD LOFDAL PENDING NEW LICENCES PENDING RENEWAL OF LICENCE CURRENT EXPLORATION LICENCES EXPLORATION CURRENT CURRENT MINERAL DEPOSIT RETENTION LICENCE On the project, Kunene the the completed company first airborne electromagnetic survey the over project area, with initial drilling confirming copper-cobalt mineralisation The most advanced project in its portfolio is the Lofdal Rare Rare its in portfolio the Lofdal is project advanced The most Earths project, which completed a Preliminary Economic sample bulk test. An tonne 18 Assessment with metallurgical South to Africa for shipped been has extracted and was The pending sorting technologies. XRF and with XRT testing part, in is delaying project this for application licence mining further project development. Namibia Critical Metals, formerly known as Namibia Rare Stock the Toronto on listed company Earths, a public is Exchange, with a 42% shareholding by Gecko Namibia. The company operates in Namibia through Namibia Rare a completed Critical Metals Namibia Ltd. Earths (Pty) expand to 2018 in Namibia with Gecko transaction corporate project a diversified has now and Namibia in operations with battery associated all are that portfolio Namibia in carried by out are activities exploration their of All minerals. experts of team to a local employs who Exploration, Gecko work on projects. • • • • • • • • • • EXPLORATION COMPANIES EXPLORATION

64 CoM Annual Review 2018 65 CoM Annual Review 2018 P.O. Box 3489 Box P.O. Windhoek • Namibia Tel. +264 61 246 533 246 61 +264 Tel. 588 246 61 +264 Fax. covering a surface area of 200 and 700 square kilometres kilometres square 700 and 200 of a surface area covering samples surface geochemical 15,000 as well as respectively; and assays. targets gold new identified 2018 in activities Exploration well as trend Karibib part identified the newly are of which the Otjikoto of east kilometres 30 mineralisation gold as from employed were people 20 Approximately mine. gold part as the extensive of communities the surrounding was million N$20 of a total and programme exploration goods of the procurement on economy the local in spent and services from Namibian registered businesses. Community development initiatives also included the training the and region the Erongo from teachers kindergarten of to two equipment kindergartens in donation play-ground of Omaruru.

EPL 6167 EPL 6734 6872 EPL EPL 6953 5533 EPL EPL 5678 EPL 5897 4885 EPL EPL 5469 • • • • • • • • • www.osinoresources.com Managing Director: Mr Heye Daun [email protected]

EPL 7361 EPL 7403 EPL 3738EPL 3739 EPL EPL 5117 EPL 5196 EPL 5469 EPL 5271 EPL 5282 EPL 5465 EPL 5469 EPL 5563 EPL 5649 EPL 5880 EPL 6029 EPL 6076 CONTACT DETAILS

EXPLORATION OSINO GOLD OSINO MAIN ACTIVITIES2018 IN DETAILS PENDING NEW LICENCES PENDING RENEWAL OF LICENCES JOINT VENTURES AND EARN-INS AND VENTURES JOINT CURRENT EXPLORATION LICENCES EXPLORATION CURRENT Osino’s exploration activities consisted of 25 RC drill holes holes drill RC 25 of consisted activities exploration Osino’s drill (RAB) Air Blast Rotary 286 metres, 2,424 totalling holes drill diamond 18 and 2,640 metres totalling holes 250 included also programme Their metres. 3,000 totalling surveys geophysical surveys and geochemical samples; litho Osino Resources Corp. is a Canadian company, primarily primarily company, Canadian a is Corp. Resources Osino with the ultimate Namibia in exploration gold on focused gold next significant the country’s delineate to vision square 6,687 covers holding licence The company’s deposit. situated that licences, consists 22kilometres of exploration Exploration Namibia. of Northern and regions the Central in and discovery efforts the Goldkuppe on focused are their of with further development along targets, extension Exploration new project defining new and Karibib Regional area. East the Otjikoto in targets grassroots • • • • • • • • • • • • • • • • (PTY) LTD. EXPLORATION COMPANIES EXPLORATION P.O. Box 2538 Box P.O. Swakopmund • Namibia Tel. +264 64 200 415 +264 Tel. 64 405 384 +264 Fax EPL 4604 EPL EPL 4605 EPL 3498 EPL 3498 6820 EPL AUSSINANIS JOINT VENTURE JOINT AUSSINANIS RUN AS MANAGER OF OPONONA INVESTMENTS CURRENT LICENCES CURRENT LICENCES CURRENT LICENCES CURRENT LICENCES • • RUN 85%; 5%; (Epangelo) Ltd (Pty) Company Mining Epangelo Oponona 10% • Retention Deposit a Mineral for made been has Application within resource the uranium secure to (MDRL) Licence EPL3498. • • (PTY) LTD’S (OPONONA) TENEMENTS (OPONONA) (PTY) LTD’S

Managing Director: Mr John Borshoff [email protected] www.deepyellow.com.au

EPL 3669 EPL 3670 ML 176 EPL 3496 EPL 3497 CONTACT DETAILS EXPLORATION RESOURCES AND AND RESOURCES REPTILE MINERAL NOVA JOINT VENTURENOVA LTD. AND TUMAS PROJECTS TOMAHOLA, SAND SHIYELA TUBAS IRON, DETAILS CURRENT LICENCES CURRENT LICENCES of A$4.5M.of RMR 65%; Africa Pty Energy 25%; Nova Ltd Ltd 10%. Sixzone Investmentsand (Pty) Corporation National Metals and Gas Oil, Japan • • as Manager. expenditure on interest a 39.5% earning is (JOGMEC) Held in Nova Energy (Namibia) (Pty) Ltd with RMR with RMR Ltd (Pty) (Namibia) Energy Nova in Held • • • Manager for various tenement holdings as indicated below and held by subsidiary companies. (PTY) LTD. EXPLORATION COMPANIES EXPLORATION

66 CoM Annual Review 2018 67 CoM Annual Review 2018 A donation of new equipment was made to the Albertus the Albertus to made was equipment new of A donation and its facilities improve to Academy Boxing Tsamaseb with business the Academy provide to continues RMR the success note to pleasing support. was It management Jonas, Junias Mr Jonas boxers, the Academy’s of one of Games. Commonwealth the 2018 at medal a gold winning and Training the Gobabeb at research Environmental of the provision through supported was Centre Research the in livestock free-roaming track to collars GPS-enabled identify to study part as a scientific of Park Naukluft Namib capacity- in assisted also impact. This their monitor and building for young Namibian scientists. Multi-level stakeholder engagement continued throughout training provided RMR front, the On environmental the year. with inductions contractors, and consultants staff, to specifically targeted at environmental compliance. RMR weather from information records and monitors actively also specifically RMR by into contracts All entered stations. address environmental standards and compliance. Company and contractor activity in the Namib-Naukluft National Park is monitored, in particular in relation to vehicle movements, further To found. tracks illegal any of with the reporting encourages also the Company disturbance, ground minimise or quadbikes of instead bikes, “fat” impact low of the use RMR 2009, Since disturbance. ground to reduce vehicles, plants, mirabilis Welwitschia (10) ten monitoring been has basis. a monthly on these inspecting MAIN ACTIVITIES2018 IN RMR continued withskills development initiatives which by led sessions mentoring and training on-the-job included senior expatriate technical specialists to build additional of a number included also Training capacity level. a local at technical, of a range covering courses professional external implemented RMR &safety health and topics. financial a study of inclusive Policy, Development and a Training assistance program, for qualifying employees. Corporate Social Responsibility programs included continued Mondesa in Primary School the Hanganeni support to maintenance. general and upgrading infrastructure through RMR, together with its subsidiaries and joint ventures (the (the ventures joint and with its subsidiaries together RMR, activities, exploration on million N$32.3 spent Group), employing 18 permanent employees during the period exploration The Group’s 2018). year (calendar review under programmes drilling extensive of comprised activities metres. 31,704 of a total for drilled holes RC with 1,139 kilometre a 125 efforts of Exploration the delineation to led system, a palaeochannel of the form in target regional long highly prospective for Langer Heinrich-type deposits, known. An thatand previously uranium additional not was in delineated successfully was pounds million 24 of resource zone. prospective this 3 within Tumas RMR’s ultimate holding company is Deep Yellow Limited, Limited, Yellow Deep is company holding ultimate RMR’s the on listed and Australia in incorporated a company in Group Markets (ASX), OTC Exchange Stock Australian (NSX). Exchange Stock the Namibian and the (OTCQX) USA P.O. Box 40903, Box Ausspannplatz P.O. Windhoek • Namibia Tel. +264 61 221 61 712 +264 Tel. 221 61 713 +264 Fax Zhonghe Resources also successfully renewed its its successfully renewed also Resources Zhonghe Certificate and 2018 Clearance in Environmental were activities exploration once sites all rehabilitated concluded. Zhonghe supported consolidated industry CSR initiatives ‘Offset Mines of the Chamber to its contribution through the of Association through others as well as Initiative six donated also They Namibia. in Enterprises Chinese mobile toilets, kits hygiene and hand washing liquid to combat the Hepatitis of spread at the Primary Havana Windhoek. in School RESOURCES RESOURCES Managing Director: Mr Zhao Xigang [email protected]

EPL 3600 EPL 3602 ML 177 CONTACT DETAILS

DEVELOPMENT ZHONGHE ZHONGHE MAIN ACTIVITIES2018 IN MINING LICENSESMINING

CURRENT EXPLORATION LICENCES EXPLORATION CURRENT (NAMIBIA) (NAMIBIA) Together with its team of three permanent Namibian Namibian permanent three with its of team Together employees, four expatriates and six Namibian contractors, surveys section geophysical conducted Resources Zhonghe while 68 samples, collected and kilometers 6.32 covering completed. was logging and trenching of metres 179.5 Zhonghe Resources is 58% owned by China National National China by 58% owned is Resources Zhonghe by owned 21 percent Limited, Corporation(CNUC) Uranium by owned 21 and percent Ltd, (Pty) Investment Springbok Namibia-China Mineral Resources Investment Development between situated is project Uranium The Zhonghe Ltd. (Pty) Usakos and Swakopmund. The company was awarded the by 2012, 177 ML November 30 on license a mining successfully was which Energy and Mines of Minister renewed in 2018. • • • (PTY) LTD. EXPLORATION COMPANIES EXPLORATION

68 CoM Annual Review 2018 69 CoM Annual Review 2018

Key Statistics Abbreviations References Chamber & Members Committees Chamber & Members Committees

ii. iv. i. iii. Annexures 0 0 0 0 n/a n/a 2010 1,678 2,773 1,300 3,628 19,202 25,019 10,300 13,200 651,219 151,688 676,019 101,040 104,494 792,000 492,000 980,000 1,472,000 0 0 0 0 n/a n/a 1,170 2009 4,150 2,014 4,950 3,400 9,000 79,150 21,543 61,800 80,857 20,000 94,000 150,400 329,000 929,000 720,000 600,000 0 n/a n/a n/a 2,126 8,775 1,052 2008 4,067 20,155 16,586 no info no info no info 94,236 118,263 90,000 145,396 642,000 2,122,000 1,039,000 1,055,000 0 n/a n/a n/a n/a 321 2007 2,519 5,707 13,317 67,110 3,046 21,876 10,200 94,855 66,585 95,809 145,126 118,766 150,080 2,177,516 665,000 1,068,933 1,048,302 0 n/a n/a 3,617 9,072 2006 2,675 6,307 5,265 22,711 21,974 61,423 12,285 66,269 88,045 105,134 129,897 132,249 576,000 260,045 1,017,867 1,000,743 2,084,879 - 0 n/a n/a 3,711 2,519 7,399 2005 5,198 10,135 89,726 22,563 24,690 66,994 126,123 132,813 120,100 114,886 922,000 670,000 878,000 1,774,000 Refined salt (tonnes) Skorpion Zinc (tonnes of SHG zinc) The Salt Company (total product - tonnes) Sakawe Mining Corporation (carats) CorporationSakawe Mining (carats) coarse of salt) Salt Chemicals (tonnes & Table salt (tonnes) salt (tonnes) Table Rock salt (tonnes) Weatherly Mining Namibia** Contained (tonnes) copper Coarse salt (tonnes) Coarse salt(tonnes) Iron ore Iron Aggregates ballast) (railway Rosh Pinah Zinc Corporation concentrate (tonnes) Zinc Lead concentrate (tonnes) concentrate (tonnes) Lead Kombat mine Copper concentrate (tonnes) Otjihase Matchless & mine mine Copper concentrate (tonnes) Pyrite concentrate (tonnes) mine copper Tschudi CathodeCopper operations Tsumeb Copper concentrate (tonnes) Springs Kuiseb Copper concentrate (tonnes) ore) iron of (tonnes Mine Ore Iron Lodestone Dordabis graphite flakes) of Imerys Gecko Graphite (tonnes Namibia Gecko Salt Rossing Uranium (tonnes of Uranium oxide) oxide) Uranium of (tonnes Uranium Rossing Debmarine Namibia (Carats) (Carats) Debmarine Namibia OUTPUT MINE BY Namdeb Diamond Corporation Diamond Namdeb Langer Heinrich (tonnes of uranium oxide) oxide) uranium of Langer (tonnes Heinrich Uranium Swakop carats) (total Holdings Namdeb marineBeach contractors and (carats) gold) (kg of Navachab Ocean Diamnd Mining Holdings Ltd ( carats) Okorusu Fluorspar (Gecko Namibia Pty Ltd.) b2Gold Metalsdundee Precious Tsumeb* Copper (tonnes) Blister ANNEXURE 1: KEY STATISTICS 1: ANNEXURE Notes: Smelters Custom Namibian as formerly known Tsumeb, Metals Precious *Dundee **Weatherly formerly known as Ongopolo Mining and Processing from 2000 to 2006, and TCL until 1998 Source: CoM

70 CoM Annual Review 2018 71 CoM Annual Review 2018 0 0 0 n/a n/a n/a 843 465 2018 3,571 1,427 1,956 37,119 15,177 3,585 2,478 4,744 3,456 11,079 7,000 no info 82,332 65,993 14,068 48,970 70,650 571,847 107,568 124,520 1,015,205 2,007,847 1,436,000 ANNEXURE 1: KEY STATISTICS 1: ANNEXURE 0 0 0 n/a n/a n/a 832 2017 2,110 1,526 2,216 1,345 1,843 5,429 3,480 2,450 12,719 13,915 15,466 61,529 97,364 84,215 45,523 131,381 114,350 735,205 426,000 1,378,000 1,804,000 0 0 0 0 n/a n/a n/a 2016 1,850 1,890 4,714 2,232 8,478 16,391 85,427 14,862 80,560 136,949 40,869 403,000 698,590 698,590 1,170,000 1,573,000 1,573,000 0 0 n/a n/a n/a 2015 4,131 1,245 1,878 3,254 2,228 13,919 13,919 4,000 4,000 18,518 18,518 10,659 82,029 99,665 45,220 118,000 118,000 614,980 614,980 494,324 1,764,324 1,270,000 1,270,000 0 n/a n/a n/a 202 2014 1,938 1,543 2,296 5,086 22,317 22,317 70,414 20,994 36,877 36,877 102,188 107,458 612,265 689,947 104,046 1,885,265 1,273,000 1,273,000 0 n/a n/a n/a 2013 5,182 1,795 2,469 2,409 22,477 20,551 24,257 no info no info no info 717,612 113,818 124,924 109,373 65,348 602,378 1,762,378 1,160,000 0 0 n/a n/a 2012 2,287 2,699 5,304 2,306 17,557 74,157 27,415 23,032 no info no info no info 94,303 85,000 145,342 559,408 725,000 1,659,408 1,100,000 0 0 0 n/a n/a n/a n/a 2011 2,137 1,694 2,063 14,071 8,900 15,776 89,236 34,350 516,417 90,834 525,317 144,755 738,000 346,000 990,000 1,336,000 7 6 17 19 10 87 50 44 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 133 597 967 876 244 954 700 409 448 2018 1,533 8,940 1,582 no info 6 12 19 87 45 50 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 761 251 122 701 421 461 923 296 839 906 2017 1,588 9,390 1,620 no info 12 37 87 23 35 112 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 811 781 243 594 949 463 309 409 808 2016 9,143 1,685 1,488 no info 12 31 87 35 38 115 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 341 467 236 953 822 750 530 589 390 2015 1,119 1,744 8,259 no info 15 41 37 46 80 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 318 742 210 239 670 470 385 240 698 850 448 2014 1,774 7,583 37 47 95 42 89 46 40 n/a n/a n/a n/a n/a n/a n/a n/a n/a 315 185 327 722 733 455 398 204 600 1,141 2013 7,439 1,630 52 33 46 84 44 44 611 n/a n/a n/a n/a n/a n/a n/a n/a n/a 175 154 752 410 328 349 442 645 2012 1,632 1,528 7,633 31 28 85 46 n/a n/a n/a n/a n/a n/a n/a n/a n/a 751 149 310 252 382 407 586 606 2011 1,637 1,363 6,929 2 14 85 30 46 n/a n/a n/a n/a n/a n/a n/a n/a 321 575 160 268 254 682 206 509 405 1,651 2010 1,592 6,800 37 78 46 n/a n/a n/a n/a n/a n/a n/a n/a 213 215 674 160 207 593 269 405 489 1,415 2009 6,281 1,480 78 n/a n/a n/a n/a n/a n/a n/a n/a n/a 110 167 105 273 523 245 360 690 684 7,136 1,307 2008 2,594 79 95 n/a n/a n/a n/a n/a n/a n/a 110 132 267 622 556 268 248 669 944 1,175 2007 8,105 2,940 78 95 n/a n/a n/a n/a n/a n/a n/a 110 132 677 267 622 939 556 248 903 7,627 2006 3,000 75 65 20 n/a n/a n/a n/a n/a n/a 110 523 249 283 596 903 666 280 860 2,913 2005 7,543 31 72 110 212 616 210 262 108 362 246 833 565 502 208 2004 7,330 2,993 3 18 73 45 101 197 212 817 105 146 262 366 598 498 546 2003 2,953 6,940 3 70 98 50 64 511 311 771 314 186 224 265 507 300 2002 2,890 6,564 4 81 67 311 157 167 101 271 491 301 798 283 2001 2,916 5,948 59 96 50 151 217 261 314 379 438 306 808 6,103 2000 3,024 67 75 87 85 361 139 424 1999 5,513 3,269 1,006 7 57 72 83 521 521 165 374 339 433 498 1998 1,182 3,175 7,427 81 36 69 49 517 149 372 525 425 509 448 1997 1,249 3,531 7,960 60 80 511 146 507 528 294 402 468 1996 8,119 1,190 3,933 41 58 139 591 597 347 269 583 1995 1,100 9,412 1,239 4,448 61 40 617 129 591 278 340 608 1994 1,100 1,284 9,693 4,645 50 611 128 337 657 656 288 1993 1,159 1,295 4,673 9,854 Total employment employment Total Gecko Namibia mining operations mining Gecko Namibia Imerys Gecko Graphite Namibia Weatherly Mining Namibia** SWA Lithium Mines (Rubicon mine) The Salt Company Swakop Uranium Uranium Swakop Salt & Chemicals Salt Chemicals & Corporation Sakawe Mining Namzinc and Skorpion Zinc Rosh Pinah Zinc Corporation Uranium Rössing Kombat mine Otjihase mine Matchless mine Ongopolo Processing (formerly Tsumeb smelter) smelter) Tsumeb (formerly Processing Ongopolo mine Tsumeb Okorusu Fluorspar TLC) (formerly Processing and Mining Ongopolo NIMT NIMT Otjozundu Manganese Dundee Metals Precious Tsumeb* Minerals CorporationNamibia Namdeb Diamond Corporation Diamond Namdeb Lodestone Imcor Tin (Uis tin mine) tin (Uis mine) Imcor Tin Langer Uranium Heinrich Diaz Point Exploration Exploration Point Diaz Debmarine Namibia Namibia Diamond Fields B2Gold B2Gold Orano Resources Namibia Orano Resources African Bounty PERMANENT EMPLOYMENT BY MINE BY PERMANENT EMPLOYMENT Navachab ANNEXURE 1: KEY STATISTICS 1: ANNEXURE Source: CoM Notes: Smelters Custom Namibian as formerly known Tsumeb, Metals Precious *Dundee **Weatherly formerly known as Ongopolo Mining and Processing from 2000 to 2006, and TCL until 1998

72 CoM Annual Review 2018 73 CoM Annual Review 2018 7 6 17 19 10 87 50 44 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 133 597 967 876 244 954 700 409 448 2018 1,533 8,940 1,582 no info 6 12 19 87 45 50 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 761 251 122 701 421 461 923 296 839 906 2017 1,588 9,390 1,620 no info 12 37 87 23 35 112 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 811 781 243 594 949 463 309 409 808 2016 9,143 1,685 1,488 no info ANNEXURE 1: KEY STATISTICS 1: ANNEXURE 12 31 87 35 38 115 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 341 467 236 953 822 750 530 589 390 2015 1,119 1,744 8,259 no info 15 41 37 46 80 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 318 742 210 239 670 470 385 240 698 850 448 2014 1,774 7,583 37 47 95 42 89 46 40 n/a n/a n/a n/a n/a n/a n/a n/a n/a 315 185 327 722 733 455 398 204 600 1,141 2013 7,439 1,630 52 33 46 84 44 44 611 n/a n/a n/a n/a n/a n/a n/a n/a n/a 175 154 752 410 328 349 442 645 2012 1,632 1,528 7,633 31 28 85 46 n/a n/a n/a n/a n/a n/a n/a n/a n/a 751 149 310 252 382 407 586 606 2011 1,637 1,363 6,929 2 14 85 30 46 n/a n/a n/a n/a n/a n/a n/a n/a 321 575 160 268 254 682 206 509 405 1,651 2010 1,592 6,800 37 78 46 n/a n/a n/a n/a n/a n/a n/a n/a 213 215 674 160 207 593 269 405 489 1,415 2009 6,281 1,480 78 n/a n/a n/a n/a n/a n/a n/a n/a n/a 110 167 105 273 523 245 360 690 684 7,136 1,307 2008 2,594 79 95 n/a n/a n/a n/a n/a n/a n/a 110 132 267 622 556 268 248 669 944 1,175 2007 8,105 2,940 78 95 n/a n/a n/a n/a n/a n/a n/a 110 132 677 267 622 939 556 248 903 7,627 2006 3,000 75 65 20 n/a n/a n/a n/a n/a n/a 110 523 249 283 596 903 666 280 860 2,913 2005 7,543 31 72 110 212 616 210 262 108 362 246 833 565 502 208 2004 7,330 2,993 3 18 73 45 101 197 212 817 105 146 262 366 598 498 546 2003 2,953 6,940 3 70 98 50 64 511 311 771 314 186 224 265 507 300 2002 2,890 6,564 4 81 67 311 157 167 101 271 491 301 798 283 2001 2,916 5,948 59 96 50 151 217 261 314 379 438 306 808 6,103 2000 3,024 67 75 87 85 361 139 424 1999 5,513 3,269 1,006 7 57 72 83 521 521 165 374 339 433 498 1998 1,182 3,175 7,427 81 36 69 49 517 149 372 525 425 509 448 1997 1,249 3,531 7,960 60 80 511 146 507 528 294 402 468 1996 8,119 1,190 3,933 41 58 139 591 597 347 269 583 1995 1,100 9,412 1,239 4,448 61 40 617 129 591 278 340 608 1994 1,100 1,284 9,693 4,645 50 611 128 337 657 656 288 1993 1,159 1,295 4,673 9,854 Skorpion Zinc and Namzinc Namzinc and Skorpion Zinc Uranium Swakop SWA Lithium Mines (Rubicon mine) The Salt Company Weatherly Mining Namibia** Imerys Gecko Graphite Namibia operations mining Gecko Namibia employment Total PERMANENT EMPLOYMENT BY MINE BY PERMANENT EMPLOYMENT African Bounty Namibia Orano Resources B2Gold Debmarine Namibia Namibia Diamond Fields Exploration Point Diaz tin (Uis mine) Imcor Tin Langer Uranium Heinrich Lodestone Corporation Diamond Namdeb Dundee Metals Precious Tsumeb* Minerals CorporationNamibia NIMT Otjozundu Manganese Okorusu Fluorspar TLC) (formerly Processing and Mining Ongopolo smelter) Tsumeb (formerly Processing Ongopolo mine Tsumeb Kombat mine Otjihase mine Matchless mine Rosh Pinah Zinc Corporation Uranium Rössing Salt Chemicals & Corporation Sakawe Mining Navachab n/a n/a n/a n/a 976 1.5% 9.5% 2.5% 0.6% 2018 0.0% 13.7% 54.1% 1,218 14.0% 22.0% 4,710 4,710 64.8% 1,809 2,696 2,696 2,696 2,696 2,849 no info no info no info 12,383 26,981 18,203 192,138 192,138 n/a n/a n/a n/a 813 7.6% 7.3% 2.7% 634 2017 3.2% 0.5% 0.9% 11.9% 11.8% 13.3% 12.0% 22.6% 1,702 1,810 23.4% 1,635 1,635 1,635 1,635 5,801 5,801 4,873 21,515 10,147 13,199 13,199 180,605 n/a n/a n/a n/a 1.1% 831 0.1% 7.3% 589 2.9% 5.6% 0.5% 2016 11.8% 13.6% -3.2% 1,618 1,618 -5.4% 1,763 47.0% 1,326 1,326 9,227 -19.8% 8,954 12,196 4,840 19,630 166,006 n/a n/a n/a n/a 1.1% 735 1.9% 8.1% 936 0.6% 2015 11.7% -4.1% 1,167 1,167 12.3% 1,616 -4.9% -18.1% 1,693 12,171 60.0% 9,246 2,826 -44.1% 17,627 18,477 104.8% 150,083 n/a n/a n/a n/a 1.1% 1.1% 1.1% 4.9% 0.6% 9.0% 2014 1,517 -9.9% 12.2% 1,315 14.8% -6.0% 1,010 1,424 1,424 1,529 9,725 9,725 1,459 121.5% -36.4% 16,939 12,434 20,580 138,763 138,763 n/a n/a n/a n/a 1.1% 1.5% 1.8% 2.6% 8.7% 2013 11.8% 11.0% 13.2% -6.9% 2,159 1,579 1,579 10.0% 1,387 2,247 89.0% 1,900 1,004 -25.8% 16,218 10,438 14,430 14,430 10,683 122,792 122,792 n/a n/a n/a n/a 2.1% 6.1% 7.6% 1.0% 2012 2.0% 27.1% 12.7% 25.1% 47.9% 13.0% 2,124 1,697 1,697 1,352 62.6% 32.4% 1,945 1,945 2,223 8,148 1,066 6,490 10,170 13,562 106,864 106,864 n/a n/a n/a n/a 1.7% 1.3% 7.2% 1.0% 2011 8.7% 4.7% 909 1,196 -3.4% -5.4% 1,021 1,164 8,132 1,335 1,335 7,833 28.0% 1,505 83.0% -10.7% 4,255 6,499 -24.9% 90,108 n/a n/a n/a n/a 1.1% 1.4% 934 5.7% 934 5.3% 2.2% 5.2% 5.8% 2010 -1.8% 44.1% 1,778 1,778 1,144 10.4% 1,778 1,144 22.2% 4,741 55.3% 4,754 8,598 8,598 82,599 as % of GDP as % of value added Mining quarrying and Gross Fixed Capital Formation (N$m prices) current Mining quarrying and Other mining **Other mining and quarrying and **Other mining **Uranium **Uranium **Metal ores Diamonds Diamonds % Growth Mining quarrying and Other mining **Metal ores quarrying and **Other mining **Uranium **Uranium Diamonds Diamonds Mining quarrying and prices) constant 2010 (N$m added Value *Other mining and quarrying and *Other mining Other mining *Metal ores *Uranium *Uranium GDP (N$m current prices) Diamonds Diamonds As % of GDP Mining quarrying and Diamonds Diamonds Value added (N$m current prices) prices) current (N$m added Value *Uranium *Metal ores Other Mining MINING AND THE ECONOMY THE AND MINING *Other mining and quarrying and *Other mining ANNEXURE 1: KEY STATISTICS 1: ANNEXURE *Prior to 2000 "Uranium", "Metal Ores" and "Other Mining and Quarrying"were grouped under "Other mining" **Prior uranium to 2007, ores were included in metal ores

74 CoM Annual Review 2018 75 CoM Annual Review 2018 205 2018 no info no info no info no info no info no info no info no info no info no info no info no info no info no info no info no info 851 2017 304 25.5% 53.9% 4,126 2,918 3,001 6,380 6,380 15,528 32,804 60,804 626 100 2016 47.0% 23.2% 2,796 5,266 3,545 2,460 61,728 14,328 29,022 165 625 2015 51.3% 27.9% 1,507 1,950 4,109 4,109 3,670 14,167 ANNEXURE 1: KEY STATISTICS 1: ANNEXURE 26,028 50,694 171 829 2014 27.9% 53.4% 3,259 1,064 2,238 4,508 13,035 13,035 24,933 46,694 46,694 876 450 2013 1,721 24.1% 54.1% 1,994 1,994 6,186 6,186 2,658 24,241 10,805 10,805 44,780 44,780 768 380 2012 21.3% 1,531 54.1% 3,192 5,610 2,265 8,708 22,074 40,833 40,833 2011 700 348 19.8% 1,432 2,391 7,073 4,461 54.0% 3,208 3,208 19,264 35,648 35,648 524 592 2010 6,971 55.3% 20.2% 1,685 1,685 1,860 5,348 2,604 19,061 19,061 34,465 Minerals as % merchandise exports Total export of goods Diamonds as % of merchandise exports Total mining export (N$m current prices) Zinc Refined Diamonds Diamonds Copper Exploration expenditure Exploration expenditure by Exploration & Development Companies (N$m current prices) current (N$m Companies Development & Exploration by expenditure Exploration Source: NSA Namibia *Metal ores Exports of ores and minerals (N$m current prices) MINING AND THE ECONOMY THE AND MINING Uranium ores ores Uranium Other Minerals Source: CoM annual reports n/a n/a n/a n/a n/a n/a n/a n/a n/a 19/20 315.0 501.6 3,314.6 1,230.0 1,268.0 2,498.0 58,396.6 1% 5% 6% 18/19 283.5 403.0 405.0 300.0 3 1,103.0 1,487.0 1,623.0 2,726.0 2,687.0 2,687.0 3,270.5 1,200.0 3,534.0 56,704.1 742 106 259 2018 5% 6% 0% 2 17/18 122.3 122.3 199.2 976.2 342.7 256.0 151 174 1,653.9 584 2,857.3 1,203.4 3,353.6 3,032.2 3,032.2 2017 3,456.0 2,056.0 58,658.9 58,658.9 1 5% 6% 0% 97 91.6 16/17 142 641 977.6 977.6 210.0 390.7 490.7 490.7 625.0 2016 1,611.3 1,611.3 3,071.2 2,341.2 2,966.2 3,666.9 3,666.9 2,588.9 51,512.0 51,512.0 0 56 117 7% 6% 0% 656 2015 57.5 99.0 15/16 310.0 309.0 620.0 2,199.0 3,154.3 1,059.6 2,166.8 2,786.8 3,258.6 3,666.6 3,666.6 50,271.6 3 101 138 598 7% 2014 6% 0% 27.5 94.2 94.2 14/15 201.0 384.8 1,159.2 3,104.1 3,104.1 1,532.6 1,532.6 3,318.5 2,691.8 2,691.8 1,043.3 1,980.0 3,023.3 48,082.3 0 331 395 465 2013 2% 2% 0% 7.5 59.0 13/14 763.1 107.8 631.4 185.4 655.3 655.3 956.0 305.0 1,049.1 1,680.5 1,680.5 2,044.5 39,199.6 3 212 441 258 2012 5% 5% 0% 51.7 16.8 12/13 183.2 993.7 678.9 644.3 300.0 1,637.9 1,989.6 1,003.7 1,682.6 1,682.6 1,882.6 1,882.6 36,181.3 36,181.3 4 428 402 348 2011 5% 6% 0% 10.2 11/12 631.7 746.3 704.4 840.7 305.4 350.0 360.0 2 2,160.7 1,472.4 1,472.4 1,788.0 1,096.3 133 28,084.9 28,084.9 439 230 2010 0% 0% 0% 10/11 4 601.9 184.5 184.5 252.0 462.3 436.5 436.5 250.0 311 179 1,148.8 305 22,139.5 2009 4 61.1 10.1 4.7% 3.3% 0.3% 241 511.3 165 742.1 467 125.2 135.3 135.3 09/10 261.0 261.0 939.8 554.5 230.8 250.0 2008 1,064.2 22,734.5 7 194 223 443 2007 2.3% 3.4% 8.2% 92.8 797.5 451.8 730.9 08/09 355.0 442.5 498.8 498.8 460.5 200.0 1,774.3 1,774.3 1,458.0 21,768.7 0 135 243 104 2006 4.1% 3.9% 8.3% 42.9 821.1 271.2 521.2 779.9 07/08 220.7 228.8 228.8 250.0 350.0 600.4 600.4 1,100.0 1,643.8 19,826.2 1 96 191 316 2005 7.0 2.1% 7.3% 5.2% 45.0 361.4 06/07 316.4 841.9 359.9 350.7 368.4 482.0 1,192.6 1,192.6 16,325.2 2 75 363 328 2004 6.5 0.9 4.9% 4.9% 0.0% 48.3 242.1 199.3 05/06 296.9 604.7 290.4 603.8 404.6 12,368.0 71 12 243 363 2003 7.9 0.1% 14.9 6.3% 6.4% 52.0 301.4 694.7 694.7 04/05 552.0 566.9 566.9 385.4 385.4 686.8 500.0 8 70 231 10,853.6 10,853.6 379 2002 3.2 5.3% 5.3% 0.0% 4 175.4 477.3 301.9 150.0 03/04 480.5 450.0 1,610.0 1,160.0 1,760.0 160 583 206 9,064.8 2001 5 2.9% 19.6% 16.7% 479.1 02/03 120.0 147 155 745.0 283.9 510 420.0 420.0 1,157.4 1,165.0 1,636.5 1,636.5 1,920.4 1,285.0 2000 9,808.9 8 92 1.3% 176 518 55.0 13.7% 12.4% 01/02 286.1 1999 106.2 106.2 769.0 764.4 475.0 824.0 294.0 294.0 1,156.7 1,050.5 8,452.0 4 85 178 464 1998 Claims Registered Claims Exclusive Prospecting Licenses awarded LICENSES GRANTED ProspectingNon-Exclusive issued Licences Source: Ministry of Mines and Energy Mining LicencesMining granted Source: Ministry of Finance estimates are FY 18/19 in *Figures Notes: Diamond mining as % of revenue All mining as % of revenue Total Government revenue* Total Non –diamond mining as % of revenue Budgted Actual* Actual All mining Diamond royalties – actual*Diamond royalties – Budgeted Diamond mining – budgeted – mining Diamond –actual* mining Diamond budgeted – royalties Diamond Diamond mining Actual* Budgeted Budgeted Actual* royalties mineral –diamond Non Non –diamond mining mining –diamond Non Revenue (N$m) (N$m) Revenue TAX REVENUETAX ANNEXURE 1: KEY STATISTICS 1: ANNEXURE

76 CoM Annual Review 2018 77 CoM Annual Review 2018 n/a n/a n/a n/a n/a n/a n/a n/a n/a 19/20 315.0 501.6 3,314.6 1,230.0 1,268.0 2,498.0 58,396.6 1% 5% 6% 18/19 283.5 403.0 405.0 300.0 3 1,103.0 1,487.0 1,623.0 2,726.0 2,687.0 2,687.0 3,270.5 1,200.0 3,534.0 56,704.1 742 106 259 2018 5% 6% 0% 2 17/18 122.3 122.3 199.2 976.2 342.7 256.0 151 174 1,653.9 584 2,857.3 1,203.4 ANNEXURE 1: KEY STATISTICS 1: ANNEXURE 3,353.6 3,032.2 3,032.2 2017 3,456.0 2,056.0 58,658.9 58,658.9 1 5% 6% 0% 97 91.6 16/17 142 641 977.6 977.6 210.0 390.7 490.7 490.7 625.0 2016 1,611.3 1,611.3 3,071.2 2,341.2 2,966.2 3,666.9 3,666.9 2,588.9 51,512.0 51,512.0 0 56 117 7% 6% 0% 656 2015 57.5 99.0 15/16 310.0 309.0 620.0 2,199.0 3,154.3 1,059.6 2,166.8 2,786.8 3,258.6 3,666.6 3,666.6 50,271.6 3 101 138 598 7% 2014 6% 0% 27.5 94.2 94.2 14/15 201.0 384.8 1,159.2 3,104.1 3,104.1 1,532.6 1,532.6 3,318.5 2,691.8 2,691.8 1,043.3 1,980.0 3,023.3 48,082.3 0 331 395 465 2013 2% 2% 0% 7.5 59.0 13/14 763.1 107.8 631.4 185.4 655.3 655.3 956.0 305.0 1,049.1 1,680.5 1,680.5 2,044.5 39,199.6 3 212 441 258 2012 5% 5% 0% 51.7 16.8 12/13 183.2 993.7 678.9 644.3 300.0 1,637.9 1,989.6 1,003.7 1,682.6 1,682.6 1,882.6 1,882.6 36,181.3 36,181.3 4 428 402 348 2011 5% 6% 0% 10.2 11/12 631.7 746.3 704.4 840.7 305.4 350.0 360.0 2 2,160.7 1,472.4 1,472.4 1,788.0 1,096.3 133 28,084.9 28,084.9 439 230 2010 0% 0% 0% 10/11 4 601.9 184.5 184.5 252.0 462.3 436.5 436.5 250.0 311 179 1,148.8 305 22,139.5 2009 4 61.1 10.1 4.7% 3.3% 0.3% 241 511.3 165 742.1 467 125.2 135.3 135.3 09/10 261.0 261.0 939.8 554.5 230.8 250.0 2008 1,064.2 22,734.5 7 194 223 443 2007 2.3% 3.4% 8.2% 92.8 797.5 451.8 730.9 08/09 355.0 442.5 498.8 498.8 460.5 200.0 1,774.3 1,774.3 1,458.0 21,768.7 0 135 243 104 2006 4.1% 3.9% 8.3% 42.9 821.1 271.2 521.2 779.9 07/08 220.7 228.8 228.8 250.0 350.0 600.4 600.4 1,100.0 1,643.8 19,826.2 1 96 191 316 2005 7.0 2.1% 7.3% 5.2% 45.0 361.4 06/07 316.4 841.9 359.9 350.7 368.4 482.0 1,192.6 1,192.6 16,325.2 2 75 363 328 2004 6.5 0.9 4.9% 4.9% 0.0% 48.3 242.1 199.3 05/06 296.9 604.7 290.4 603.8 404.6 12,368.0 71 12 243 363 2003 7.9 0.1% 14.9 6.3% 6.4% 52.0 301.4 694.7 694.7 04/05 552.0 566.9 566.9 385.4 385.4 686.8 500.0 8 70 231 10,853.6 10,853.6 379 2002 3.2 5.3% 5.3% 0.0% 4 175.4 477.3 301.9 150.0 03/04 480.5 450.0 1,610.0 1,160.0 1,760.0 160 583 206 9,064.8 2001 5 2.9% 19.6% 16.7% 479.1 02/03 120.0 147 155 745.0 283.9 510 420.0 420.0 1,157.4 1,165.0 1,636.5 1,636.5 1,920.4 1,285.0 2000 9,808.9 8 92 1.3% 176 518 55.0 13.7% 12.4% 01/02 286.1 1999 106.2 106.2 769.0 764.4 475.0 824.0 294.0 294.0 1,156.7 1,050.5 8,452.0 4 85 178 464 1998 LICENSES GRANTED ProspectingNon-Exclusive issued Licences Exclusive Prospecting Licenses awarded Registered Claims LicencesMining granted Source: Ministry of Mines and Energy All mining as % of revenue Source: Ministry of Finance estimates are FY 18/19 in *Figures Notes: Revenue (N$m) (N$m) Revenue mining –diamond Non Budgeted Actual* royalties mineral –diamond Non Budgeted Actual* Diamond mining budgeted – mining Diamond –actual* mining Diamond budgeted – royalties Diamond actual*Diamond royalties – Budgeted Actual All mining Budgted Actual* Government revenue* Total Non –diamond mining as % of revenue Diamond mining as % of revenue TAX REVENUETAX R. Burger L. Davies A. Kalili Petzel V. B. Britz B. Munro E. Alberts E. Nakale S. Januarie B. Tsauses M. Hirsch S. Muller I. Shilongo KleinJ. Snr E. Rust SherrattD. Mushimba T. O. N. Shikongo O. R. Storrie J. Sisay I. Simataa G. Botshiwe C. Horn Y. CAI M. Dawe A. Snyman Ewald W. Schütte H-W. Z. Xigang M. Tjipita Z.Kasete J. Borshoff Kullmann D. H. Mbako J. Roux Z. //Gowaseb R. Schommarz KleinJ. Jnr. ThompsonJ. de Jager J.O Wittreich F-P. Hougaard P. Kuutondokwa D. J. Coetzee Rössing UraniumLtd Weatherly Mining Namibia Class A Members Skorpion Mining Company QKR Namibia Pinah Zinc CorporationRosh (Pty) Ltd (Proprietary) Uranium Swakop Ltd B2Gold (Pty) Namibia Limited Class B Members Salt & Chemicals (Pty) Ltd Bannerman Mining Resources Namibia OHORONGO Cement (Pty) Ltd Zhonghe Development (Pty) Resources (Namibia) Ltd Imerys mine) (Pty) Gecko Ltd Holdings (Okorusu (Namibia) Dundee Precious Metals Tsumeb MineralReptile Resources and Exploration LeadNamib and Zinc Mining (Pty) Ltd Orano Mining Namibia Langer Heinrich Ltd Uranium Whale Cement Rock (Pty) Ltd Mining (Pty) Namibia Ltd AfriTin Class C Members Salt Company (Pty) Ltd Otjozondu Mining (Pty) Ltd R.E.D Graniti (Pty) Namibia Ltd MarbleNamibia & Granite (Pty) Ltd SolidRock Mining (Pty) Ltd (Pty)African Ltd Tantalum Desert Lion (Pty) Ltd CHAMBER 31 2018 DECEMBER, MEMBERS AS AT Class A Founder Members Namdeb Holdings (Pty) Limited ANNEXURE 2: CHAMBER MEMBERS & COMMITTEES CHAMBER& MEMBERS 2: ANNEXURE

78 CoM Annual Review 2018 79 CoM Annual Review 2018 E. A. Barbour E. Mbeely K. Maiden C. Botha Verran D. H. Scheepers E. A. G. Trueman E. Akwaake AkwenyeJ. G. Isaaks Nefussy E. E. Freyer Wyk Van P. N. van der Westhuizen S. Kurz H. Duan ANNEXURE 2: CHAMBER MEMBERS & COMMITTEES CHAMBER& MEMBERS 2: ANNEXURE R.Carr C.Wium H.Scheepers R. Ellmies M. Hill M. Shikongo K. Hartmann KrappmannO. B. Corner Dr. J.Ashipala CastelynD. M. Woodbourne S. Blower J. L. Ming E. Pekema E. Hawala V. Lusse D. Matsi Lemmon P. Reddy R. V. K. Kapwanga FerreiraJ. B. Borg Stockley J. M. Hilmer S. van der Spuy CartterallD. J. Andrew P.E. Minerals P.E. (Pty) Ltd Mining (Namibia) MAWARID Earths Rare Namibia (Pty) Ltd Marenica Energy Ltd Nutam (Pty) Ltd Craton Mining & Exploration (Pty) Ltd Gecko Mining (Pty) Ltd Cheetah Minerals Exploration (Pty) Ltd Sabre Resources (Pty) Namibia Ltd Lodestone (Pty) Namibia Ltd MarineNamibian Phosphate (Pty) Ltd Pitchstone Exploration (Pty) Namibia Ltd East InvestmentNamibia China Non-Ferrous (Pty) Ltd China Africa Resources Namibia Epangelo Mining Company (Pty) Limited Manila Investment (Kombat Copper Inc.) Mining (Pty)Jindal Namibia Ltd Zander Mineral Investments (Pty) Ltd Geomin (Pty) Global Ventures Samicor Diamond Mining (Pty) Ltd Metals Namibia Votorantim Gecko Cobalt Mining (Pty) Ltd Damaran Exploration (Pty) Namibia Ltd (Pty) Uranium Ltd Valencia (Pty)Diamond Namibia Ltd Fields Kalahari Copper PtyTrans (Namibia) Ltd Onganja Mining Company (Pty) Ltd Class D Members Corp Resources Osino A. Ashby R. Wartha I. Namaseb K. Laas G. Fassbender Horak D. LawrenceJ. N. Muller M. von Dorrsen G. Dreyer T. Tjazuko Roeseman D. Hollick P. Brown W. S. Masiza L. Strauss A. Speiser E. Nandjiwa A. Palfi S. Ndjaba E. Freyer KaitungwaJ. N. Du Plooy P. Coet zee S. Jordaan C. Groenewald Schutz F. CraffordJ. G. Symons G. Mueller (Deceased)E. D. N. Stewart L. MaartensDr. H. Bamm B. Schikerling B. Muller G. Leicher A. Grobler M. Gillmann A. Kostopoulus van Niekerk D. B. van Coller A. Theissen Associate Members (Pty) Ltd Bay BulkWalvis Terminal African (Pty) Ropes Wire Ltd Alexandra Speiser Environmental Consultants cc Barloworld (Pty) Equipment Ltd Palfi, Holman & Associates (Pty) Namibia Ltd Valuations NDTC Eckhart - Geologist Freyer Evi Mining Company Ltd L. van Schalkwyk Manica Group (Pty) Namibia Ltd NOSA Namibia SecurityRubicon Services Protea Chemicals (Pty) Namibia Ltd Karibib Mining Construction Company GeophysicalTerratec Services cc Namibia InstituteNamibian Mining of & Technology Atlas CopcoNamibia LM Environmental Consulting Intertek Genalysis (Pty) Namibia Ltd International SOS (Pty) Namibia Ltd BM Earth Moving cc Knight Piesold Consulting Lithon Mining Engineers (Pty) Ltd Cargo (Pty)Transworld Ltd (Pty) Ltd Treatment Water Aveng Kraatz Marine (Pty) Ltd ExplorationRemote Services (Pty) Ltd (Pty)Cymot Ltd ANNEXURE 2: CHAMBER MEMBERS & COMMITTEES CHAMBER& MEMBERS 2: ANNEXURE

80 CoM Annual Review 2018 81 CoM Annual Review 2018 G. Stadtherr A. MarlowDr. C. De Beer F. Silver T. MareeJ. A. Jakins Smit E. M. Kuwa S. Alex A. Friedman ANNEXURE 2: CHAMBER MEMBERS & COMMITTEES CHAMBER& MEMBERS 2: ANNEXURE J. KirstenJ. E. Lisho H.Schlag Shali W. Kuys T. F. H.Callesen J. Gaya Reiff H. P. R. Fitzpatrick I. Milanesi H. Hough J. A. Nel R. Moseme A. Neethling C. Vorster Lamboy T. R. Amster Hanghome V. Burger W. BesterD. P. Botha L. Nutt G.Holzman R. Mwanachilenga R. Maueler Desert Mining Supplies ALS Laboratory (Pty) Namibia Ltd Maintenance ProductsTaurus (Pty) Ltd Shali Group Holdings (Pty) Ltd African Bounty cc. Mincon (Pty) Namibia Ltd Quarmby & Pfeifer Fisher, MiningNamibia Industrial Solutions Minerals Pumps & Mining Solutions.Weir Line AfricaPower (Pty) Ltd Mining ServicesVerminen CC. 3M Personal Safety Namibia Basil Mining (Pty) Namibia Read Ltd Mining (Pty)BARTKO Namibia Ltd Bulk Mining Explosives Namibia ADP (Pty) Namibia Ltd GroupBMI Namibia DrillingKODO Komatsu (Pty) Namibia Ltd Eazi Access (Pty) Rental Namibia Ltd (Pty) Ltd Geo Technologies Pollution CorpsRisk Honorary Life Members Steve Galloway Mr. Oil and Gas Members (Atlantic) and Oil GasEco Ltd Chariot & Gas Oil & Gas Oil Petrobras BV Vice President, The Chamber Mines of Namibia of st Asset Management & Electrical Engineer GoldQKR Mine Namibia-Navachab General Manager - Corporate, B2Gold (Pty) Namibia Ltd. Country Managing Ernst Partner, & Young B2Gold (Pty) Namibia Ltd. Imerys (Pty) Gecko Ltd. Holdings (Namibia) QKR Namibia Namdeb Diamond Corporation (Pty) Ltd. President, The Chamber Mines of Namibia of 1 CEO, The ChamberCEO, Mines of Namibia of Acting President, Namibia of Mine Union Workers General Secretary, Namibia of Mine Union Workers Ministry Industrial Labour, of Relations and Employment Creation Ministry Mines of and Energy CHAMBER 2018 COMMITTEES DECEMBER 14 AS AT Exploration Committee Petzel (Chairperson) Volker CommitteeHR Sam Januarie (Chairperson) Health and Safety Committee Lukas Schoeman (Chairperson) Mine Surveying Committee Nel (Chairperson) Edmund Mining Consultative Forum Z. Kasete Hilifa Mbako Desley Somseb Ebben Zarondo Henri Kassen Erasmus Shivolo CommitteePower Richard Gevers (Chairperson) and SocialEnvironmental Committee Charles Loots (Chairperson) Committee Tax Cameron Kotzé (Chairperson) Veston Malango Veston ANNEXURE 2: CHAMBER MEMBERS & COMMITTEES CHAMBER& MEMBERS 2: ANNEXURE

82 CoM Annual Review 2018 83 CoM Annual Review 2018

ANNEXURE 3: ABBREVIATIONS 3: ANNEXURE

Restricted Work Day Injury Day Work Restricted Technology and Mining of Institute Namibian National Occupation Safety Association Namibia Students Financial Assistance Fund Exchange Stock Namibia AuthorityNamibia Training Namibian Uranium Association Namibia Investment Promotion Act Namibian Uranium Institute Namibia University of Science and Technology Strategic Environmental Assessment Previously Disadvantaged Namibian Rotary Airblast Drilling Reverse Circulation Non-Governmental Organisation Southern Coastal Mine University of Namibia troy ounce (equivalent to 31.104 g) 31.104 to (equivalent ounce troy Education Training and Vocational short ton (equivalent to 0.907 tonnes) 0.907 to (equivalent short ton New Equitable Economic Forth National Development Plan Namibian Chamber of Environment Fifth National Development Plan Vessel Motor ...... SEA NIMT NOSA NSX NTA NUA NUST SCM PDN RAB RC RWDI NSFAF NIPA NUI st UNAM VET troy oz Empowerment Framework/Bill NGO NEEEF/B Mv NDP5 NDP4 NCE

Disabling injury frequency rate Study Feasibility Bankable Namibia of Mines of Chamber Corporate Social Responsibility Study Feasibility Definitive Board Control Electricity Association of Chamber of Mines Mines of Chamber of Association All Frequency Injuries Rate Exchange Stock Australian Environmental Clearance Certificate Environmental Impact Assessment Environmental Management Plan Government of the Republic of Namibia Health, Safety, Environment Lost Time Injury Frequency Rate Rate Frequency Injury Time Lost Southern Africa Industry of Association Mining Ministry of Environment and Tourism Mineral Deposit Retention Licence International Standard Organisation Joint Venture Joint Venture Rate Frequency Injury Day Lost Injury Time Lost Mining Licence (MME) Energy and Mines Ministry of Injury Treatment Medical Namibia of Union Workers Mine

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...... ANNUAL REVIEW 2018 ANNUAL ECB CoM...... CSR ECC DIFR and other Mining Associations in Africa in Associations Mining other and AFIR ASX BFS DFS EIA ...... EMP ACMMAA GRN HSE MET

MIASA MDRL Abbreviations ISO JV LDIF LTI ...... LTIFR ML MME ...... MTI ...... MUN ...... Executive Director: Dr. Gabi Schneider Gabi Dr. Director: Executive Cottage Avenue 2747 Box P.O. Swakopmund 393 402 (64) +264 Tel: 394 402 (64) +264 Fax: [email protected] E-mail: www.namibianuranium.orgWebsite: NAMIBIAN NAMIBIAN URANIUM ASSOCIATION Argus Metals https://metals.argusmedia.com/ Fraser Institute on download for available 2018, Companies Mining Survey of Annual Institute Fraser https://www.fraserinstitute.org/studies/annual-survey-of-mining-companies-2018 President: Mr Zebra Kasete Mr Zebra President: Mbako Mr Hilifa President: Vice 1st Simataa Mr Irvinne President: Vice 2nd Malango Veston Officer: Executive Mr Chief Chamber of Mines Namibia 2895 PO Box Street 3 Schutzen No. Central Windhoek Namibia 925 237 61 +264 Tel: 222 638 61 +264 Fax: [email protected] Email: www.chamberofmines.org.na Website:

FRASER INSTITUTE SURVEY MINING OF COMPANIES COMMODITY COMMODITY PRICES

CHAMBER OF MINES NAMIBIA ANNUAL REVIEW 2018 ANNUAL

ANNEXURE 4: ANNEXUREREFERENCES 4: References

84 CoM Annual Review 2018 85 CoM Annual Review 2018 ANNEXURE 4: ANNEXUREREFERENCES 4: Ministry of Mines and Energy: Energy: and Mines Ministry of www.mme.gov.na Act 1992 Minerals 1992) 33 of (Act No. of Fund Development Minerals Namibia Act 1996 1996) of 19 (Act No. Diamond Act 1999 1999) of 13 (Act No. Namibia of Policy Minerals Energy) and Mines of (Ministry Act 2008 Amendment Minerals 2008) 8 of (Act No. Ministry of Environment and Tourism: www.met.gov.na National Planning Commission: www.npc.gov.na Bank ofNamibia annual and quarterly reports: www.bon.com.na Ministry of Finance https://mof.gov.na USEFUL USEFUL DOCUMENTS AND WEBSITES

[email protected] [email protected] [email protected] Statistician General: Alex Shimuafeni Namibia Statistics Agency FGI House Streetmall Post 2133 Box P.O. Windhoek 3200 431 61 +264 Tel: 3253 431 61 +264 Fax: http://www.nsa.org.na Website: Mining Commissioner: Mr Erasmus Shivolo Mr Erasmus Commissioner: Mining 284 8111 61 +264 Tel. 8366 238 61 +264 Fax. Email: [email protected] Chirchir Ms Isabella Mines: of Director Mr Mathews Amunghete Mines: of Inspector Chief E-mail: National Statistics Agency Namibia (NSA) Deputy Executive Director: Ms Gloria Simubali Simubali Ms Gloria Director: Deputy Executive Email: Directorate of Mines / Director Deputy Executive Ministry of Mines and Energy and Mines of Ministry Mines and Energy Building Road 1 Aviation Bag 13297 Private Windhoek Minister and Deputy Minister Alweendo Tom Honourable Minister: Shilunga Kornelia Honourable Deputy Minister: 284 8111 61 +264 Tel: 284 220 386 8363/ 61 +264 Fax: Director Executive Negumbo Mr Simeon 284 8312 61 +264 Tel: 220 386 61 +264 Fax: DiamondDirectorate: Affairs Auene-Gahutu Ms Miina Director: 284 8261 61 +264 Tel: 284 8380 61 +264 Fax: Email: GeologicalDirectorate: Survey KEY IN CONTACTS GOVERNMENT ANNUAL REVIEW 2018 Notes

P.O. Box 2895 Windhoek Namibia

Number 3 Schutzen Street Windhoek Central

Tel: +264 61 237 925 Fax: +264 61 222 638 [email protected] www.chamberofmines.org.na