Namibia’s Mining Fiscal Regime: H1 2014

The mining industry in Namibia is governed by the Ministry of Mines and Energy (MME) and the Ministry of Environment and Tourism (MET). The Directorate of Mines, a part of MME, is responsible for the promotion of the exploitation of Namibia's mineral resources, as well as the integration of the mining industry into the rest of the economy.

The Mineral (Prospecting and Mining) Act, 1992, Environmental Management Act, 2007, and Diamond Act, 1999, are the main acts that consolidate and amend laws related to mining and minerals.

Scope

The report outlines Namibian’s governing bodies, governing laws, licenses, rights and obligations and key fiscal terms which includes Royalty, Corporate Income Tax, Capital Gains Tax, Branch Profit Tax, Withholding Tax, Loss Carry Forward and Value Added Tax, VAT.

Key Highlights

• The MME is the custodian of minerals and energy resources in Namibia. It facilitates and regulates the development and sustainable utilization of resources in the interests of Namibian welfare.

• The Directorate of Mines forming a part of MME is responsible to promote the optimal exploitation of Namibia's mineral resources and integrate the mining industry with other sectors of the economy for the socio-economic development of the country.

• The Ministry of Environment and Tourism (MET) was established in 1990 and is responsible for protecting environmental resources of the country.

• The Minerals (Prospecting and Mining) Act 1992 law governs and controls all mining activities in Namibia.

Reasons to buy

Gain an overview of Namibia's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The Namibian Mining Industry – Governing Bodies 7

2.1 Ministry of Mines and Energy (MME) 7

2.2 Ministry of Environment and Tourism (MET) 7

3 The Namibian Mining Industry – Governing Laws 8

3.1 Mineral (Prospecting and Mining) Act, 1992 (Act No.33 of 1992) 8

3.2 Environment Management Act, 2007 8

3.3 Diamond Act, 1999 8

4 The Namibian Mining Industry – Licenses 9

4.1 Reconnaissance License 9

4.1.1 Rights 9

4.1.2 Duration 9

4.2 Non-Exclusive Prospecting Licenses 9

4.2.1 Rights 9

4.2.2 Obligations 9

4.2.3 Duration 9

4.3 Exclusive Prospecting Licenses 9

4.3.1 Rights 9

4.3.2 Obligations 9

4.3.3 Duration 10

4.4 Mineral License 10

4.4.1 Rights 10

4.4.2 Obligation 10

4.5 Mining License 10

4.5.1 Rights 10

4.5.2 Obligation 10

4.5.3 Duration 10

4.6 Mining Claim 10

4.6.1 Rights 10

4.6.2 Obligation 11

4.6.3 Duration 11

5 The Namibian Mining Industry – Key Fiscal Terms 12

5.1 Royalty 12

5.2 Corporate Income Tax 12

5.3 Capital Gains Tax 12

5.4 Branch Profit Tax 12

5.5 Withholding Taxes 12

5.6 Loss Carry Forward 12

5.7 Value Added Tax (VAT) 12

6 Appendix 13

6.1 What is this Report About? 13

6.2 Methodology 13

6.3 Secondary Research 13

6.4 Primary Research 13

6.5 Contact GlobalData 14

6.6 About GlobalData 14

6.7 GlobalData’s Services 15

6.8 Disclaimer 16

List of Tables

Table 1: The Mining Industry in Namibia – Fiscal Regime Terms and Other Taxes (%), 2014 1

Table 2: The Mining Industry Namibia – Withholding Rates (%), 2014 12

List of Figures

Figure 1: The Mining Industry in Namibia – Commodity Mines at Different Stages (Number of mines), 2014 2

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