Namibia has decided to scrap an old policy that requires that only companies partly owned by blacks can apply for mining licences.
AFP reports that the mines minister Tom Alweendo made the disclosure on Saturday. He said the move was to expand investment into the sector.
Alweendo is quoted by AFP as saying that “Our objective is to grow the mining sector where it can continue to meaningfully contribute to our socio-economic development.
This can only happen when more minerals are discovered and it is important that we make the progress of mineral discovery as effective as possible.”
Namibia is struggling economically although it produces diamonds, uranium and other mineral resources.
The government is hoping relaxing its mining rules could open up the sector for others to move in and invest.
Previous policy which started in 2006 was meant to empower the black Namibians.
According to the Namibia Statistics Agency the mining sector contributes significantly to the country’s gross domestic product (GDP).
In 2017, the sector contributed 12% to Namibia’s GDP.