WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-06-11 Time: 17:00:02 Posted By: News Poster
By Desie Heita
Windhoek – Umbrella union body, the National Union of Namibian Workers, is set for ownership in Weatherly’s copper mining operations, after Mineworkers Union of Namibia abandoned talks less than six months into negotiations.
Weatherly is about to reopen two copper mines, Matchless and Otjihase, and is exploring for an additional copper mine at Tschudi and a zinc/lead mine at Berg Aukas.
National Union of Namibian Workers, through its commercial arm Labour Investment Holdings, is now in discussions with Weatherly International for equity shareholding in all mining assets of Weatherly Namibia.
Chief Executive Officer for Labour Investment Holdings, Cleophas Mutjavikua, confirmed negotiations, saying “these are on-going and are at a very sensitive stage right now.”
Weatherly International dropped a bombshell late last month, when, in a London update to shareholders, it spoke of advanced negotiations with a Namibian black economic empowerment partner.
Surprisingly, the update did not name Nam-mic, Mineworkers Union of Namibia’s commercial arm, who since late 2009 has been in discussions with Weatherly International for partnership in local mining operations.
Seemingly, the discussions between the two started on a bad footing. Nam-mic (Namibian Mineworkers Investment Company) are said to have walked out of discussions.
“We have suspended the negotiations until at a later stage,” Nam-mic’s chief executive Josia Kaitungwa told New Era. Nevertheless, Kaitungwa says they would continue monitoring developments at Weatherly with possibility of resuming discussions at a later stage. “But for now we have suspended the discussions,” emphasised Kaitungwa.
Weatherly hinted that negotiations with new trade union partners would help curb possible industrial unrest in the future.
“The company [is] in negotiations with a black economic empowerment partner which will mitigate future industrial trouble and create greater commitment by local stakeholders in the successes of the project,” said Weatherly International in its London update to shareholders.
Trade unions have been pushing for direct ownership in Namibian mining companies, and repeated the demands when Weatherly Namibia shut down copper mines during the global financial crisis of 2008.
Weatherly International has since bounced back through a series of several asset sales and refocusing of operations.
Weatherly International told shareholders that it “is now back in business at a very opportune time”. At one point the company was knee-deep in debt and gasping for air, going as far as offering to sell half of its ownership to Chinese state-owned company East China Exploration Company. The discussions for the sale were subsequently terminated and the company opted to instead sell the Tsumeb copper smelter to Canadian mining company Dundee Precious Metals for N$44,4 million.
“The company is looking to benefit from the current copper price by reopening two of the mines and accelerating development of a third new copper mine,” says Weatherly.
The plans for reopening of Otjihase and Matchless mines are complete and the company is now working on equity structure and funding. A feasibility study is out on the possibility of mining operations at Tschudi.
Original Source: 
Original date published: 11 June 2010
Source: http://allafrica.com/stories/201006110736.html?viewall=1