May 17, 2011 / 3:38 PM / 8 years ago

Namibia seeks mineral windfall tax -minister

WINDHOEK, May 17 (Reuters) - Namibia is looking to introduce a minerals windfall tax for the state to benefit more from its vast mineral resources, Mines and Energy minister Isak Katali said on Tuesday.

The move would be the latest by a government in the region seeking to benefit from profits made by mining companies. Namibia is home to some of the world’s largest uranium reserves. “It is my view that as the custodian of the mineral resources, the state should also benefit in good times beyond normal taxes and royalties,” Katali told in his opening speech at the annual general meeting of the Namibian Chamber of Mines. (Reporting by Servaas van den Bosch, writing by Agnieszka Flak)

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