Mines and Energy Minister Tom Alweendo said that Namibian mining exploration licence holders would be required to retain at least a 15% stake in any mining venture effective April 1.
"For a Namibian to sell their entire stake in an exploration licence means they are not interested in mining but just want to make money," Alweendo was quoted as saying.
"I don't want Namibians to say that they have not been given opportunities."
Namibia previously required companies seeking new exploration licences to have a 20% Black Namibian representation in management.
The policy was scratched in 2018 after critics said the policy was discouraging foreign investment.
Chamber of Mines chief executive Veston Malango told Reuters that the new policy would not affect any foreign companies' exploration licences.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
