Description of Activities

Description of transaction: The Commission resolved to approve without conditions the acquisition by Anneider Minerals Holdings Proprietary Limited (“Anneider Minerals”) of shares in Wepex Mining Resources Proprietary Limited (“Webex Mining”). 

Acquiring group: The primary acquiring undertaking, Anneider Minerals is a newly registered holding company, and it has not engaged in any business activities. The acquiring group is not engaged in any business activities or own any assets in Namibia.

Target undertaking: The primary target undertaking, Webex Mining is a Namibian entity with mineral exploration rights as issued by the Ministry of Mines and Energy under Exclusive Prospecting License for the exploration of dimension stones, base and rare earth metals, industrial minerals and precious metals. 

Relevant market: The Secretariat looking at the activities of the merging parties defined the product market to be the market for the exploration of Minerals.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition or result in any undertaking to acquire or strengthen a dominant position in the market and did not raise any public interest concerns.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian Laws.