Windhoek — Namibia's passive participation in harnessing her abundantly rich mineral resources could be a thing of the past after Epangelo Mining, a fully state-owned mining company, was launched here yesterday, amidst pomp and fanfare.

Namibia has struggled to make headway in actively exploiting the country's mi-nerals to the benefit of its citizens, with government owning a paltry three percent in the country's largest uranium export company, Rössing, whilst the country is ranked the world's fourth largest uranium producer.

Government owns 50 percent in the country's largest diamond mining company, Namdeb.

That is where the State's ownership of shares in active mining companies ends, despite attempts to address poverty and unemployment in the country.

But if the hype surrounding the establishment and ultimate launch of Epangelo is anything to go by, then Namibians can prepare for wholesale changes in as far as benefitting from the country's mineral riches is concerned.

The Mines and Energy Minister yesterday crossed Aviation Road from his ministry's headquarters to a hotel opposite, where he officially launched Epangelo at an event witnessed by curious corporate executives and covert business scouts.

Isak Katali, who took over the reigns at Mines and Energy in March, told those in attendance that Epangelo's core business would be, among others, to prospect for mineral rights, active acquisition of mineral assets, and financing of mining projects.

"Epangelo was introduced to the public as the main instrument by which the State would, for the first time, use to play an active, participatory role in the mining industry," Katali said.

Epangelo would, ideally, transform Namibia from being a mere observer of big foreign investors taking profits back to their home countries, to active participators in the multi-billion-dollar local mining industry.

To confirm that it means business, Epangelo has now appointed Eliphas Hawala as its managing director-designate. He will officially start work on August 9.

Hawala, a mining engineer by profession and the general manager of NamGem Diamond Manufacturing Company until recently, faces the daunting task of getting Epangelo off the ground and taking the company to envisaged greater heights.

After its inception a little over a year ago, the company initially got N$2.5 million from government as start-up capital. This year, it received a grant of N$5 million from the Minerals Development Fund of the Ministry of Mines.

Well-known business personalities witnessed the company's launch and hearing Katali urging partnerships with the company must have been music to their ears.

Advocate Ellaine Sampson, chairperson of Epangelo, told New Era yesterday that Epangelo is currently sitting with dozens of applications from investors who want to forge business partnerships with it.

"We feel honoured and privileged to attract so much attention from investors. It is an indication that we are an open and not a clandestine entity," she said.