Namibia to restrict export of unprocessed essential minerals

  • World
  • Friday, 09 Jun 2023

WINDHOEK, June 8 (Xinhua) -- Namibia has decided to put restriction on the export of unprocessed lithium, rare earth elements and some other minerals as it seeks to maximise the value of its mining resources.

The Namibian government said Thursday in a statement that the cabinet had authorised a restriction on the export of unprocessed crushed lithium ore, cobalt manganese, graphite and rare earth minerals.

It added that limited quantities of the banned minerals may be shipped abroad for research purposes following approval by the government.

However, spokesperson of the Mines and Energy Ministry Andreas Simon did not reveal when the export ban will take effect.

The Namibian government announced last week that it may demand a minimum stake in enterprises which need any mineral or petroleum licences in the future.

It, however, said it has no intention of seizing any stake from existing mineral or petroleum licence holders.

The Southwest African country has considerable quantities of rare earth minerals such as dysprosium and terbium, which are essential for manufacturing electric vehicles and wind turbine batteries. It is also one of the world's largest uranium producers.

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