Namibia should ensure that local minerals are exported as finished products

Namibia should ensure that local minerals are exported as finished products

Namibia cannot yet produce its own fuel, but should ensure that local minerals are refined and exported as finished products, and not as raw goods.
This advice comes from Minister of Mines and Energy, Obeth Kandjoze, who says it is time to start maximising profits.
He says the construction of a fuel storage facility at Walvis Bay, will create numerous jobs, and will help make Namibia a regional and global logistics hub.
The fuel storage facility will be completed by January 2018, and Kandjoze says a range of African countries would be able to benefit from it.
The facility is being built at a cost of N$4 billion, and will replace existing storage facilities, which have become old.
The Energy Minister says the fuel storage facility will increase Namibia's oil storage from 14 days, to about 30 days' in fuel reserves.
Besides storing crude oil, the facility will also store reserves of different other fuel types - such as petrol, diesel and paraffin.
This would greatly improve the status of Namibia as a regional logistics player, Kandjoze says.
The Roads Contractor Company and China Harbour Construction Engineering Company, were awarded the tender, in March 2015.
The project, initiated by the Namibia Petroleum Corporation - NamCor - will store about 75-million litres of different fuel types.