Chinese-owned Huajing Investment Limited has secured approval to acquire Okorusu Holdings and its subsidiary, Okorusu Fluorspar, in a deal that could revive one of Namibia’s historic fluorspar mining assets in the Otjozondjupa region.
The Namibia Competition Commission (NaCC), under case number 2026FEB0005MER, approved the transaction subject to several conditions aimed at protecting public-interest objectives, including employment creation, skills development, and local value addition.
The transaction involves the sale of all shares and business interests of Okorusu Holdings (Pty) Ltd and, by extension, Okorusu Fluorspar (Pty) Ltd to Huajing Investment Limited.
Huajing is a British Virgin Islands-registered company owned by five individuals. However, during the merger process, the company nominated Walvis Bay Minerals (Hong Kong) Limited on 18 March 2026 to substitute it as the primary acquiring undertaking in the merger filing application.
According to the commission, neither Huajing nor Walvis Bay Minerals currently has other business interests in Namibia.
Okorusu Holdings serves as the holding company for Okorusu Fluorspar, which owns the mining land and prospecting rights located near Otjiwarongo in the Otjozondjupa region.
The project is centred on fluorspar, also known as fluorite, an industrial mineral used in steelmaking and aluminium production as a flux, and as the main source of fluorine for hydrofluoric acid production for the chemical, battery, refrigerant, pharmaceutical, and electronics industries.
The commission classified the transaction as a conglomerate merger and defined the relevant market as the global extraction, processing, and export of fluorspar.
NaCC said its investigation found that the proposed transaction was unlikely to lessen competition or strengthen a dominant market position substantially.
However, the regulator noted that the merger raised public-interest considerations, leading to approval conditions focused on employment protection, training, and beneficiation.
“The Commission approved the merger subject to the following conditions: employment creation and protection, skills development and training and local value addition conditions,” the ruling stated.
The approval also carries a major land-related requirement.
NaCC said the merged entity must first secure approval from the Minister of Agriculture, Fisheries, Water and Land Reform, authorising the acquisition of agricultural land under Section 58 of the Agricultural (Commercial) Land Reform Act of 1995, before the transaction can be implemented.
The Okorusu mine was historically one of Namibia’s best-known fluorspar operations before operations ceased years ago amid weak global market conditions and operational challenges.
The approval now raises the possibility of renewed activity at the site at a time when global demand for fluorine-related products is increasingly linked to battery technologies, refrigerants, chemicals and industrial manufacturing.
