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Government approves deal for Russian companies to develop deposits in Namibia

The Russian-Namibian inter-governmental committee for trade and economic cooperation agreed to ink the deal at its fifth meeting on February 15-16, 2012

MOSCOW, December 11. /TASS/. The Russian government has approved a deal with Namibia on partnership in geology and subsoil use which permits Russian companies to prospect and develop deposits in that country. The specific resolution was posted on a website of the government on Thursday.

“We approve an accord between the governments of Russia and Namibia on cooperation in geology and subsoil use presented by the Russian Ministry of Natural Resources and coordinated with the Russian Foreign Ministry and other executive authorities concerned and developed with Namibia beforehand,” the document said.

The Russian-Namibian inter-governmental committee for trade and economic cooperation agreed to ink the deal at its fifth meeting on February 15-16, 2012.

“The accord seeks to develop mutually beneficial bilateral cooperation in geology and subsoil use and will permit Russian companies to search for, prospect and develop Namibian deposits with natural resources needed for Russia,” the reference to the document said.

The Ministry of Natural Resources was instructed to hold talks with Namibia and sign this deal on behalf of the Russian government upon reaching agreement.

In particular, Namibia produces diamonds, uranium, arsenic, silver, lithium, stannic tin, lead, cadmium, copper, zinc and other natural resources.

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