Debmarine ups exploration ante
Debmarine Namibia will provide 25% of the capital investment while Standard Bank Namibia and RMB Namibia will secure the rest of the funding, announced Debmarine Chief Executive, Otto Shikongo upon delivering his address this week. He said, “I am indeed pleased and proud that the three Namibian entities have united to make this project a reality for the long-term benefit of all our stakeholders and the nation at large.”
“Our mining conditions are unique. We have neither the visibility of nor human contact with the ocean floor. We therefore invest significantly in sampling and exploration work to ensure effective resource delivery,” said Shikongo. According to him, Debmarine has grown substantially, enabling the diamond miner to double its production output to 1.2 million carats. Debmarine currently charters the mining vessels Coral and Explorer for exploration and sampling purposes respectively. “Robust skills development and training programmes will run parallel to the construction of the vessel to ensure that the right people for the job are in the right places when the vessel is delivered,” said Shikongo in preparation for the delivery of the mv SS Nujoma.
Reiterating Shikongo’s statement, Standard Bank Namibia Chief Executive, Vetumbuavi Mungunda said, “I strongly believe that this latest addition to the Debmarine Namibia fleet will help expand deep sea diamond mining and exploration and sampling as well as off-shore mining to greater heights, ultimately contributing to our country’s core economic growth.”
The 113 metre long diamond mining and exploration vessel will be required to remain at sea for three years before returning to port for maintenance, as per ship requirements, Shikongo explained.