Rosatom’s Director General, Aleksey Likhachev told the company’s gazette that talks have run since the start of the year, centred on mining uranium in Namibia’s Omaheke region. Alongside those negotiations, Namibia began looking at how to speed up an intergovernmental agreement on the peaceful use of nuclear energy, a government to government framework that would set the terms for the two countries to work together on nuclear projects.

Likhachev said the negotiations, as they now stand, are nearing completion. In remarks carried by Sputnik, he set out what Rosatom expects next. “All the necessary conclusions have been made, the findings have been sent directly to Namibia’s leadership and we expect that within the next few months a positive decision will be taken and we will be able to come to Namibia with the implementation of a concrete project,” stated Likhachev.

Rosatom’s timeline calls for uranium exploration in Namibia to be finished in 2026, with mining to begin by 2029. Separately, reports in April 2025 indicated that Namibia had opened discussions with the Russian Federation on the possible establishment of a nuclear power plant. Russia is not the only major power circling Namibia’s uranium sector, which has drawn approaches from several global players keen to become stakeholders. A few weeks ago, China’s state owned nuclear enterprise made further progress toward a $321.5 million investment in the Etango uranium project.

Under the proposed agreement, CNNC Overseas would provide $294.5 million directly to Etango and could reimburse Bannerman Energy, the Australian listed developer, for up to $27 million of earlier expenses, bringing the Chinese company’s total potential commitment to $321.5 million. Once the deal completes, Bannerman would keep a 55% majority interest in the resulting joint venture, with CNNC Overseas holding the remaining 45%. Bannerman is also raising about $82 million in additional funds to support construction efforts.

Interest in Namibia’s minerals extends beyond uranium. In April, Australian listed Askari Metals reported Phase 1 trenching results at its wholly owned Uis Project, a programme that involves digging trenches to sample rock close to surface and the results confirmed extensive polymetallic mineralisation, meaning several valuable metals occur together. The find added to Namibia’s profile as a host of high grade critical mineral sites. The moves show state backed capital from both Russia and China converging on a country that is fast becoming central to the global search for nuclear fuel and critical minerals.

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According to the company, the results validate and extend previously reported field portable X-ray fluorescence analyser (pXRF) readings, validating Cu-Ag mineralisation across several distinct mineralised styles and horizons

“This is an excellent set of results from our first systematic sampling campaign, whereby surface grab samples were collected quickly and cost-effectively during routine geological mapping.

“It is encouraging that the samples have returned grades of this quality across multiple prospects and over a significant strike length, showing us signs of a large fertile mineralised system, rather than an isolated occurrence,” said Serval Resources’ Chief Executive Officer, Robin Birchall.

Birchall said the company is fortunate to have multiple targets across licence packages and is continually working on prioritising and ranking prospects and targets.

“These results give us the data needed to establish where best to focus our follow-up work and will directly inform target selection for our maiden drilling programme, planned to commence in the fourth quarter of this year.”

The Kaoko Basin is in north-western and forms part of the Neoproterozoic Damara Orogenic Belt and is interpreted as an extension of the Central African Copperbelt, one of the world’s foremost sediment-hosted copper-silver provinces.

The mineralisation in the basin is typically controlled by redox boundaries at the contact between reduced, carbonaceous sedimentary units and oxidised red-bed sequences, a setting comparable to that of the nearby Okohongo Cu-Ag deposit and other regional discoveries.

Serval holds a four-licence, 789 km² package within this prospective trend. EPL 7081 is Serval’s priority licence within the Kaoko Basin, hosting some of Serval’s key targets, being the Omatapati, Horseshoe and Otjozongombe West and East prospects.

Over 9,000 metres of drilling was carried out on the Kaoko Basin projects by the previous owner, alahari Copper, and a number of promising drilling intercepts were made, including with 13 metres at 5.03 percent.

Six prospects on EPL 7081 were mapped and during this process, a new Cu mineralisation occurrence was discovered and mapped.

The new prospect has been named Okamborombonga and takes the number of Serval’s confirmed Cu prospects in its Kaoko Basin portfolio from 12 to 13. The location of this new prospect is of particular interest as it occurs in the Nosib Group, a stratigraphic rock unit not traditionally known for Cu mineralisation.

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EPL 3638 covers the Namibplaas uranium deposit, which forms part of the company’s Norasa Project1, together with the adjacent Valencia uranium deposit.

The renewal enables the company to continue exploration and mineral resource work at Namibplaas, which together with the adjacent Valencia uranium deposit, forms the Norasa Project.

With the licence extension now secured, the company intends to carry out additional Mineral Resource drilling at Namibplaas, followed by a review of the data supporting the 2024 MRE.

The current Namibplaas MRE was classified as inferred based on the underlying drilling information, and the proposed drilling program is intended to address the limitation and support the potential upgrading of portions of the Mineral Resource to the Indicated category.

“This work is expected to be completed by the end of December 2026. Subject to the results of the planned drilling and data review, the Company will consider updating the original definitive feasibility study (DFS) completed in 2015.

“The 2015 DFS is considered historical as it was prepared using processes, cost and uranium price assumptions that differ materially from current conditions and accordingly, it should not be relied upon as a current indication of the Norasa Project’s economics,” said the company.

The renewal of EPL 3638 enables the company to advance exploration and mineral resource assessment work at Namibplaas, which hosts an existing mineral resource.

“Following the new management’s assessment of the Norasa Project, we believe the planned mineral resource drilling and data review will help provide a stronger understanding of the resource base at Namibplaas and establish a sound basis for planning and potentially updating the definitive feasibility study.

“With the nuclear industry undergoing a strong resurgence, and the forecast for uranium supply to tighten over the mid-term, we believe it is timely and justified to re-evaluate the potential for development of the Norasa Project,” said John Borshoff, Director, President and Chief Executive Officer.

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The fifth batch of diamond drilling results, a method that extracts solid rock cores for laboratory analysis, covers 23 holes that successfully intersected mineralisation. The cores confirm that the lithium bearing rock continues downwards and thickens in places within the targeted pegmatite swarms. Pegmatites are coarse grained rocks that can host lithium and a swarm is simply a cluster of them. The results also point to a broader commercial opportunity, because tin and tantalum are present alongside the lithium.

The Lithium Ridge Project is being advanced under a Stage 1 earn in agreement with SQM International, one of the world’s leading lithium producers. Lithium grades are reported as a percentage of lithium oxide, written as Li₂O, which is the industry’s standard yardstick. A higher percentage means richer rock. Each result below describes a stretch of rock cut by a drill hole, its length in metres, its average grade and how far down the hole it begins.

One of the strongest results came from hole LRD045, which cut through 34.90 metres of rock averaging 1.02% Li₂O, starting 184.42 metres down the hole. Within that stretch, a richer section of 6.22 metres averaged 1.67% Li₂O. Hole LRD060 returned 10.66 metres at 1.13% Li₂O starting just 0.90 metres down, which means the mineralisation begins almost at surface, and generally shallow rock is cheaper to reach. A richer 4.79 metres inside it averaged 2.04% Li₂O. Hole LRD042 intersected 9.03 metres at 1.64% Li₂O from 63.83 metres, including 5.44 metres at 1.84% Li₂O. Hole LRD066 recorded 11.35 metres at 1.16% Li₂O from 34.16 metres, including 4.64 metres at 1.79% Li₂O.

According to Andrada’s Chief Executive Officer, Anthony Viljoen, the results point to further exploration upside across the licence. “This fifth batch of results demonstrates the presence of high-grade intersections confirming that we are still uncovering the full potential of the Lithium Ridge licence. Multiple pegmatites in this batch have returned intersections exceeding 1.5% Li₂O. These results also confirm that newly identified pegmatites beyond the main mineralised trend at Lithium Ridge also contain substantial lithium mineralisation. This highlights the upside potential that remains to be explored across the licence,” said Viljoen.

The drilling shows that mineralisation runs from near the surface to depths of up to 275 metres. Importantly, holes LRD064, LRD066 and LRD072 confirmed consistent high grade mineralisation within a newly identified pegmatite outside the established Lithium Ridge trendline. Earlier grab sampling, which involves collecting selected rock samples from the surface, had given only an initial hint of lithium potential at these targets. Drilling has now shown that the pegmatites continue underground and retain significant lithium grades. The company will investigate these additional targets during the next stage of development, which could widen the area it explores well beyond its current understanding of the system.

The programme is also helping Andrada refine its detailed digital model of the geology and establish the limits of the mineralised pegmatite swarm. Six holes, namely LRD058, LRD065, LRD076, LRD082, LRD095 and LRD101, either missed significant pegmatite or returned results below the company’s minimum reporting threshold. These holes still add value, because knowing where the mineralisation stops sharpens the boundaries of the deposit and builds the geological confidence needed for any future resource estimate.

Lithium may not be the only source of revenue. Tin and tantalum mineralisation is widespread across the pegmatite bodies, although the intersections so far are narrow. Hole LRD061 returned 0.25 metres at 1.03% tin and 227 parts per million of tantalum, which equates to roughly 0.02%. Hole LRD074 returned 0.95 metres at 0.57% tin, and hole LRD045 returned 0.36 metres at 604 parts per million of tantalum or roughly 0.06%. The three metals could strengthen the project’s economics by giving it several commodities to sell, although further metallurgical testwork and economic evaluation will be needed to establish how much each would contribute. Spodumene, a lithium bearing mineral, remains the primary source of lithium in the reported intersections and the mixed metal profile gives Andrada a chance to draw on its existing processing expertise as it considers how best to maximise recovery.

Investors should note how the figures are measured. The holes were drilled at inclined angles of between 45 and 75 degrees so that they cut the pegmatites as close to square on as practicable. Even so, the reported lengths are apparent widths rather than true thicknesses, so the actual thickness of the rock bodies will differ. The drilling, logging and sampling programme was supported by independent laboratory analysis and comprehensive quality assurance and quality control procedures. As exploration progresses, the combination of rich lithium intersections, continuity at depth and mineralisation beyond the main trend could give the company a broader basis for judging the project’s resource potential. The immediate focus for Andrada is on defining these mineralised systems further, deepening its metallurgical understanding and determining how lithium, tin and tantalum can be turned into a commercially viable development.

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The Paratus customer management solution gives users greater visibility and control over their data usage.

In addition, the launch builds on the established and long-standing partnership between Paratus and Eutelsat in Africa.

“We are bringing more than just another satellite connectivity option to Namibia. Paratus has considerable LEO experience across the continent, and we can now deliver that scale and technical expertise to our customers here, together with competitive packages with much greater control over how they manage their connectivity,” said Paratus Namibia Managing Director, Andrew Hall.

Paratus offers competitive capped and uncapped packages to give customers greater flexibility, control and value from their connectivity.

The Paratus Eutelsat OneWeb LEO service delivers high-speed, low-latency connectivity across Namibia, extending reliable connectivity to locations where traditional terrestrial services may be limited or unavailable.

Customers will also benefit from the resilience and support of the wider Paratus network, together with greater visibility and control over their data usage through the Paratus customer management platform. For businesses, the service can also provide a reliable secondary or backup connection, strengthening network redundancy and business continuity without the cost or complexity of installing a second fixed line.

“For customers anywhere in the country and particularly those operating in areas where terrestrial connectivity is limited, they will have a reliable, high-performance alternative backed by a team that already understands how to deploy and support LEO connectivity across Africa. It also gives businesses an excellent option for network redundancy and business continuity,” said Hall.

Philippe Baudrier, Vice President for Africa at Eutelsat, added: “This launch means more customers in Namibia can access the connectivity that supports everyday life and economic activity. Our OneWeb LEO network combines high speeds and low latency with the ability to reach locations beyond terrestrial coverage and strengthen the resilience of existing networks. Paratus has already brought these benefits to customers in other African markets, and we look forward to building on that success together in Namibia.”

The Namibia rollout forms part of Paratus Group’s broader strategy to expand resilient, high-performance connectivity across Africa and follows the multi-year agreement signed with Eutelsat in November 2025 to extend OneWeb LEO services in Southern Africa.

Paratus Group CEO, Schalk Erasmus says: “The agreement builds on the long-standing partnership between Paratus and Eutelsat.  It supports our deployment of LEO connectivity in South Africa, Angola, Namibia, Botswana and Zambia, and complements the Paratus Group’s existing terrestrial and satellite infrastructure throughout Africa.”

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The Belmont Prospect, part of the Khorixas Gold Project, is a large-scale greenfields surface gold discovery made by Ongwe.

The Khorixas Gold Project is situated just 50km west of Osino’s Eureka gold project, adjacent to the northern margin of the Damara Orogenic Belt. Khorixas hosts two large-scale surface discoveries called Belmont and K17.

“The recent RC scout drilling at the Belmont BK2 target has confirmed that there is high-grade gold associated with complex folding and a late-stage influx of sulphides including pyrrhotite, pyrite and arsenopyrite,” said Dave Underwood, Ongwe’s Chief Executive Officer.

The discovery comprises 19 individual gold anomalies, including BK2, defined through soil, calcrete, rock-chip and bedrock sampling.

In addition, most of the prospect is covered by up to 15 m of calcrete, adding complexity to the exploration program. Recent drilling, including the results reported in this press release, indicates that Belmont has the potential to host multiple high-grade deposits within its existing gold footprint.

The mineralisation style is comparable to that of Osino Resources’ Eureka gold discovery, located 50 km east of Belmont.

According to the company the results further strengthen belief that the licence portfolio contains multiple prospective targets, each with the potential to host commercial deposits.

“We are also ramping up activity at the K17 prospect with two phases of geophysics designed to produce copper-gold intrusion related drill targets for testing in the second quarter of 2027. The Phase 1 deep looking MT and gravity program kicks off in October and should take about two months to complete,” said Underwood.

Ongwe’s current focus is on three promising gold projects in the emerging Northwest Damara gold belt with a focus on the Omatjete and Khorixas Gold Projects.

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Founded in 2022, KKLM Enterprise built its initial footprint providing integrated water treatment solutions and supplying personal protective equipment (PPE) to commercial and industrial operations. Under the leadership of Chief Executive Officer Lucílio Mondlane, the company has pivoted toward high-value industrial services, leveraging domestic market expertise to attract international technical capabilities.

The trajectory of the business shifted through its participation in the Linkar Project an initiative executed by national oil company Empresa Nacional de Hidrocarbonetos (ENH). The program sponsored KKLM’s presence at the Mozambique Mining, Energy & Oil & Gas Conference and Exhibition (MMEC), where company executives met Dubi Energies’ Global Director, Malobi Ogbechie.

Dubi Energies brings 36 years of operational experience in Nigeria’s complex energy and waste management sectors. The resulting alliance merges Dubi’s deep technical track record with KKLM Enterprise’s local regulatory knowledge and established regional corporate network.

“Our vision has always been grounded in practical, reliable, and locally responsive solutions tailored specifically to Mozambican operational realities,” said Lucílio Mondlane, CEO of KKLM Enterprise. “By pairing our domestic market insights with proven international expertise, we are positioning Mozambican enterprise at the center of the country’s industrial growth while building a platform for regional expansion.”

As part of the joint rollout, Dubi Energies has completed its corporate registration in Mozambique and is finalizing operational facilities in Cabo Delgado province, establishing Pemba as its primary operating base. The location places the partnership in proximity to Mozambique’s emerging liquefied natural gas (LNG) developments and offshore supply chains.

Beyond domestic projects, the two firms are targeting broader regional opportunities across Southern Africa, beginning with industrial waste contracts in Mozambique and Namibia.

“To build a sustainable industrial service model in high-growth markets, international experience must align seamlessly with ground-level market intelligence,” stated Malobi Ogbechie, Global Director of Dubi Energies. “This collaboration establishes a robust operational springboard from Pemba, allowing us to deliver compliant, environmentally responsible waste management solutions directly to tier-one mining and energy operators.”

The venture underscores a broader trend in Southern Africa’s energy sector, where local content initiatives and strategic joint ventures are increasingly enabling domestic firms to scale into competitive regional service providers.

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According to the company, the early works construction activities continue to advance in line with overall budget and schedule expectations. The company says the bulk earthworks package is now approximately 99 percent complete, with Phase 4 completion expected during December.

“Construction work on site has continued in line with expectation, with our four Namibian contractors performing consistently well and aligned to both schedule and cost.

“The final phase of the large-scale bulk earthworks package is expected to be complete before year end, representing a key milestone in our early work activities and the overall development of Etango,” said Bannerman Managing Director and Chief Executive Officer, Gavin Chamberlain.

Chamberlain said the early works programme, and particularly the bulk earthworks contract has been a seminal workstream in maintaining the critical path timeline for Etango.

Meanwhile, with the completion of the CNOL strategic investment and joint venture transaction last week, the company is making final preparations towards a targeted Final Investment Decision (FID) on Etango during quarter four of 2026.

“I am delighted to say that FID is set to be followed promptly by the commencement of full-scale construction at Etango – which we are rapidly gearing up for across site, within the owner’s team and across our key contractor partners,” said Chamberlain.

He however beamoned the company’s first LTI after achieving 16 years without a lost time injury.

“This has been a re-set for the site team with continued focus on making safety personal.”

So far, the company’s production of heap leach drainage aggregate has reached approximately 50 percent of total requirement, with produced aggregate being stockpiled ahead of placement

In addition, Phase 1 and Phase 2A concrete works continue across the primary crusher and dry plant infrastructure with approx. 14,700m³ of total concrete cast, representing approximately 86 percent of the total volume for these phases.

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The global economy is entering a period in which geopolitical fragmentation, energy security, technology investment and changing trade relationships are increasingly intertwined, creating both new risks and strategic opportunities for African economies, according to KPMG’s latest Global Economic and Geopolitical Outlook.

The quarterly outlook examined how interconnected global conflicts are influencing economic conditions and business decisions, with discussion spanning geopolitical developments, oil and energy markets, inflation, monetary policy and the accelerating investment in artificial intelligence (AI).

For Africa, the implications extend beyond the immediate effects of global volatility. As major economies increase investment in AI infrastructure, digital technologies, renewable energy and electric vehicles, demand for the minerals and resources required to support these industries is creating a potentially significant opportunity for the continent.

According to KPMG’s Global Economic and Geopolitical Outlook, the changing composition of global growth could have important implications for African economies. Investment is increasingly taking the lead over consumer spending as a driver of growth, particularly in AI infrastructure, data centres, digital technologies, and the industries supporting the energy transition.

While these trends are supporting growth and investment in developed economies, they also have important implications for Africa. Many of the critical minerals required for electric vehicles, renewable energy technologies and AI-related infrastructure are concentrated on the continent. As demand for these technologies continues to expand, demand for these minerals is likely to remain strong, supporting exports and attracting foreign direct investment into African economies.

The shift towards a more fragmented global economy is changing the way businesses and governments think about supply chains, investment, and strategic resources.

Rather than viewing geopolitical developments solely through the lens of risk, KPMG’s outlook highlights the need to consider how changing global relationships are reshaping where investment flows, where supply chains are located and which resources become strategically important.

For Africa, this could place greater attention on its role in global critical mineral supply chains. The continent has significant deposits of minerals that are important to the energy transition and technology industries. The analysis of critical minerals notes that geopolitical risks, supply-chain stability, capital access, regulation and infrastructure are among the issues shaping investment decisions across the sector.

This creates a potential opportunity for African economies to move beyond being sources of raw materials and capture more value through processing, beneficiation, infrastructure development, and participation in downstream supply chains.

The opportunity, however, is not automatic. The ability to attract sustainable investment will depend on factors including infrastructure, energy availability, regulatory certainty, skills, logistics and the capacity to develop reliable value chains.

The global AI investment boom is also creating an unexpected connection between technology and energy. During the webcast, insights revealed that AI is increasingly becoming an electricity story, with the energy required to power data centres emerging as a potential determinant of where AI infrastructure can be developed at scale.

The International Energy Agency estimates that global data-centre electricity consumption could almost double from 2025 levels by 2030. This means access to reliable and affordable electricity will increasingly influence the geography of digital infrastructure and AI investment.

For Africa, this presents a dual challenge and opportunity. Countries able to combine reliable energy, digital connectivity and access to strategic resources could position themselves to attract investment linked to data centres, digital infrastructure, manufacturing, and technology-enabled industries. At the same time, persistent infrastructure gaps could constrain the continent’s ability to capture these opportunities.

The outlook comes against a backdrop of growing geopolitical and economic fragmentation. KPMG’s global analysis has highlighted how geopolitical developments are affecting supply chains, investment decisions, energy markets and the cost of doing business.

For African markets, this means global economic developments cannot be considered in isolation from the continent’s own structural opportunities.

Changing patterns of global investment could create greater demand for African commodities, infrastructure, and energy. At the same time, more fragmented trade relationships could increase pressure on countries and businesses to diversify markets, strengthen regional supply chains and improve resilience. This makes Africa’s ability to build stronger intra-African trade and regional value chains increasingly important.

For businesses operating across the continent, the challenge will therefore be to navigate a world where geopolitical uncertainty is becoming a structural feature of the operating environment, while identifying where changing global investment patterns create new opportunities.

Africa’s strategic importance in the global economy is likely to increasingly extend beyond its traditional role as a source of commodities.

The convergence of AI, energy transition, critical minerals and geopolitical competition creates the potential for the continent to play a more significant role in global supply chains and investment flows.

Realising that potential will require investment not only in extraction, but in the broader ecosystem needed to support competitive industries – including reliable energy, transport and digital infrastructure, skills development, processing capacity and predictable regulatory environments.

For African economies, the emerging global environment therefore presents a more complex picture than simply managing external shocks. It also raises the prospect of Africa becoming an increasingly important part of the infrastructure, technology and resource systems underpinning the next phase of global economic growth.

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Mike Salawou, Bank Group Director for Infrastructure and Urban Development signed on behalf of the institution during the inaugural African European Industry Dialogue on Railways. Michael Krake, BMZ’s Deputy Director General for Economic Cooperation also signed.

The African European Industry Dialogue on Railways, part of the International Trade Fair for Transport Technology, InnoTrans, was jointly organised by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Deutsche Bahn, and the EU Global Gateway initiative.

The two entities will work together to reduce Africa’s transport costs, improve cross-border interoperability, promote low-carbon transport solutions, promote and embed sustainable transport policies and actively promote the establishment of a robust local labour market in the railway sector through skills transfer, vocational training, and the creation of sustainable employment opportunities.

Cooperation between the Bank Group and BMZ will start with a joint feasibility study for an African Rail Competence Center, implemented by GIZ and expected to launch by October 2026, bringing together innovation and training to modernise and expand Africa’s railways.

Director Salawou pointed to Bank-supported investments in the Lobito Corridor, the Standard Gauge Railway program in East Africa, the Nacala Corridor, Algeria’s North-South Rail Corridor, Morocco’s high-speed rail system, and urban rail projects in Senegal and Nigeria.

Africa’s rail network currently represents only eight to ten percent of the world’s total, but the African Continental Free Trade Area is driving growing demand for cross-border freight and passenger movement across a market of over 1.4 billion people.

The Bank Director also set out five priorities for the sector: a continental market driven by the African Continental Free Trade Area, modal-shift reforms, interoperable standards, financing that crowds in private capital, and the competencies needed to operate the networks once built. “Building a railway is half the job,” he said.

“Running it is the harder half.”

Deputy Director General Michael Krake emphasised BMZ’s long-standing commitment to supporting Africa’s development.

“BMZ is committed to working with our African partners to strengthen regional connectivity and support sustainable economic development. Together with the African Development Bank, we will advance practical cooperation on interoperability, skills development and other priorities that help build a stronger railway sector,” he said.

Salawou ended with calls to action to critical stakeholders: African governments and railway authorities should set a clear vision, commission credible feasibility studies, reform early and give investors regulatory certainty. European industry should offer long-term partnership, local content and skills transfer, not just equipment. Financiers should get involved at the preparation stage. He added that the Bank Group would support them with guarantees, blended finance and technical assistance.

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