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namib times
SERVING THE COASTAL COMMUNITY SINCE 1958 NO 6809 TUESDAY 27 NOVEMBER 2018 Tel: +264 64 - 205854 / +264 64 - 461866 /Fax: +264 64 - 204813 / 064 - 461824 / Website: www.namibtimes.net
First vehicles assembled at Walvis Bay
inside App to save lives
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2018 Toy Run The first two vehicles were fully assembled at the Walvis Bay auto assembly plant (pictured) in recent days. The two vehicles are part of more than 5 000 vehicles of the Opel and Peugeot fabricates that will be assembled here towards the close of 2020. The vehicle assembly plant belongs to French car maker Groupe PSI. An official opening event is planned for early December, Peugeot South Africa confirmed yesterday.
Angry mob wants arsonist hand to them Floris Steenkamp More than hundred people convened at the Kuisebmond police station at Walvis Bay yesterday, demanding a suspected arsonist be handed over to them. The arsonist, a male Namibian, allegedly set a number of shacks alight in Kuisebmond on Sunday, leading to his arrest. An estimated five shacks burnt down. “This is really chaos and scary. There are a huge number of people at the police station at Kuisebmond and they demand the alleged arsonist be handed over to them. Continues on page 2
China takes majority control of Rössing Sharlien Tjambari China is set to become the single biggest owner of Namibia's uranium resources. This follows an announcement by Rio Tinto yesterday that it sells 68,62 % of Rössing Uranium Limited (RUL) to China National Uranium Corporation (CNUC). The sale is worth N$1,5 billion. Rio Tinto owns 69 % of Rössing Uranium Limited which in turns owns Namibia's Rössing Mine, some 75km east of Swakopmund near the mining town of Arandis. China is an already established stakeholder in Namibia's uranium sector, through Taurus Minerals which owns 90 % of Swakop Uranium and its Husab Mine. Taurus in turn is a subsidiary of China General Nuclear Power Company (CGNPC). In a statement yesterday Rio Tinto stated: “Rio Tinto has entered into a binding agreement with China National Uranium Corporation Limited ("CNUC") for the sale of its entire 68.62 per cent stake in Rössing Uranium Limited ("Rössing"), owners of the Rössing mine in Namibia, for up to $106.5 million. The total consideration comprises an initial cash payment of $6.5 million, payable at completion,
and a contingent payment of up to $100 million following completion. The contingent payment is linked to uranium spot prices and Rössing's net income during the next seven calendar years. In addition, Rio Tinto will receive a cash payment if CNUC sells the Zelda 20 Mineral Deposit during a restricted period following completion. The total consideration is subject to a maximum cap of $106.5 million. The transaction represents the culmination of an extensive assessment of strategic options considered by Rio Tinto in relation to Rössing. Rio Tinto chief executive J-S Jacques said the sale of our interest in Rössing once again demonstrates our commitment to strengthening our portfolio and focussing on our core assets, which deliver sector leading returns in the short, medium and long term.
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“Joshua na die Reen”
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Squash Coastal Open
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