Namibia Competition Commission Convenes Urgent Stakeholders' Conference for ACE-Lepidico Merger Review

On September 8, 2026, the Namibian Competition Commission (NaCC) issued a formal invitation to industry participants for a stakeholders' conference concerning the proposed merger between African Critical Elements Limited (ACE) and Lepidico (Canada) Inc. The hearing, scheduled for September 10, 2026, is convened in Windhoek under Section 46(1) of the Competition Act No. 2 of 2003.

Mechanism and Legislative Authority

Under Chapter 4 of the Competition Act, the NaCC exercises jurisdiction over changes in corporate control and market concentration. Section 46(1) empowers the Commission to convene a stakeholders' conference when actively reviewing a proposed merger. This statutory mechanism allows the regulator to gather oral representations, interrogate corporate claims, and assess the potential anti-competitive effects or public interest benefits of the transaction before rendering a final approval, conditional approval, or prohibition.

The consolidation of these entities triggers mandatory competition review due to the potential impact on Namibia's mining sector. Lepidico holds significant historical interests in lithium exploration and development, an asset class currently facing heightened regulatory scrutiny globally.

Compliance Implications / What This Means for Your Business

• Who must act, and what specifically changes for them: Supply chain partners, off-takers, and direct competitors of ACE and Lepidico should urgently assess how this consolidation might alter market dynamics or contract negotiations. If your business relies on competitive pricing or access in the critical minerals sector, this is the legal venue to voice market concentration concerns.

• Financial, operational, or reporting exposure: While the merging entities bear the direct legal burden of securing NaCC approval, secondary stakeholders face operational exposure. If the Commission imposes structural or behavioral conditions on the merger (such as mandated local supply quotas, price caps, or divestitures), downstream buyers may need to restructure their procurement strategies.

• Realistic timeline for compliance planning: The statutory conference takes place on September 10, 2026, from 11:00 AM to 4:00 PM at the Ministry of Industry, Mines and Energy Auditorium (with virtual integration via Teams). The NaCC typically issues a binding determination within 30 to 60 days following the conclusion of such hearings, placing a likely decision window in October 2026.

• What remains uncertain or pending: The Commission has not publicly detailed the specific anti-competitive concerns or public interest thresholds that prompted the Section 46 hearing. It remains entirely unclear whether the NaCC is signaling a potential prohibition or merely seeking stakeholder input to formulate conditions for approval.

Regulatory Snapshot

• Authority/Instrument: Namibian Competition Commission (NaCC) / Competition Act No. 2 of 2003 (Section 46).

• Status: Under regulatory review (Public Hearing phase).

• Effective Date: Hearing scheduled for September 10, 2026.

• Who Is Affected: Competitors, suppliers, and stakeholders interacting with African Critical Elements Limited (ACE) and Lepidico (Canada) Inc., as well as the broader Namibian critical minerals sector.

• Action Required By: Interested industry participants must present their representations by the September 10, 2026 hearing