From Independent Online

Namibia is set to review a temporary ban on marine phosphate mining once a environmental study is completed, paving the way for investments of more than $1 billion in the industry.

The southwest African country imposed an 18-month halt last year on bulk sea-bed mining of the fertilizer material amid debate about environmental risks and commissioned the Norwegian Institute of Marine Research and Sintef to conduct a six-month study.

Leviev Group and Namibian Marine Phosphate are licensed and waiting for permission.

Leviev, based in the US, plans to invest as much $800 million to mine about 2 million metric tons of ore, tapping a resource estimated at 2 billion tons, at a depth of 300 meters, Reuters reported on March 25, citing Erez Mishal, vice president of business development and operations.

Namibia Marine Phosphate, a unit of Union Resources of Australia, will spend $326 million to mine about 3 million tons at a depth of 180 meters to 300 meters, the company says on its website.

“The study will inform us on how mining can co-exist with the marine ecosystem and other industries such as fisheries,” Chamber of Mines of Namibia chief executive Veston Malango said in a telephone interview yesterday.

Read more at Independent Online