New mine developments The Navachab Gold Mine

Namibia's newest mining enterprise, the Navachab Gold Mine, was officially opened by President Sam Nujomo during June 1990. The mine is a joint venture between Erongo Mining & Exploration Company Limited, Metal Mining Corporation of Canada, and Rand Mines Windhoek (Pty) Ltd. Erongo has a 70 per cent interest in the mine, while Metal Mining and Rand Mines hold 20 per cent and 10 per cent respectively. Anglo American Corporation and its associates hold two-thirds of Erongo shares and CDM (Pty) Ltd one-third. The Mine is managed by Erongo Mining & Exploration Company. The property is located some 10 km southwest of the town of Karibib and 170 km west-northwest of the Namibian capital of Windhoek (Fig. 1), the name of the Mine being taken from the farm on which the gold deposits were discovered. Navachab is an opencast operation and was brought into production in December 1989 at a cost of around R84 milion-RS,2 million under budget. The plant is designed to treat 840 kt annually at an average gold grade of 2,6 g/t. This wil produce 1900 kg of gold per year, which at today's prices will earn Namibia more than R60 million in foreign exchange.