Namibian experts hail Chinese investment for keeping 2,000 old mine workers employed

Namibia's mine experts have hailed a Chinese firm for putting investment into one of the oldest mines in the country and keeping 2,000 mine workers employed.

At an official handover event on Thursday near the coastal town of Swakopmund, Chief Executive Officer of the Chamber of Mines of Namibia Veston Malango told Xinhua that the acquisition of Rio Tinto's 68.62 percent shares in Namibia's Rossing Uranium by Chinese National Nuclear Corporation (CNNC) is a welcome move to the mining industry.

"We needed a choice and we wanted to see operations at the mine continue and not shut down. Following the official conclusion of the transaction, I can say a right choice was made," he added.

If the mine had not got investors, what was the country going to do with 2,000 unemployed people? Malango asked, highlighting the fact that the country currently is plagued by unemployment issues.

"The new Chinese investors are breathing a new future and we should all embrace and welcome their presence and work together," he said.

Chairperson of Rossing Board of Directors Foibe Namene said "the grand old lady of the uranium sector has once again defied the odds."

"Over the years and many times we wondered, is this finally the end? Is it time to say goodbye? But instead of saying our farewells, we now stand before what is possibly the biggest and most exciting transformation of the long and illustrious life of this world-class operation in the nuclear power industry," she added.

Namene said she believes that CNNC will bring with them best scientific and technological practices as leaders in the nuclear power industry.

Representing the Mining Union of Namibia, Johannes Hamutenya said the transaction is a historic event not only for Rossing but for the surrounding communities and the uranium sector.

"The departure of Rio Tinto is bittersweet as it had been operating in the country before independence, but as our mandate states, we will continue to play a pivotal role in maintaining job security," he added.

Chinese Ambassador to Namibia Zhang Yiming said the new partnership signifies another important achievement of China-Namibia cooperation in the mining industry.

"It is a vivid manifestation of the flourishing development of mutually beneficial economic and trade cooperation between Namibia and China," he added.