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Debmarine invests N$7 billion in new exploration vessel – eyes 500,000 more carats annually

Debmarine invests N$7 billion in new exploration vessel – eyes 500,000 more carats annually

The Board of marine diamond prospecting and mining company, Debmarine Namibia on Thursday announced that it will invest around N$7 billion for the construction of the world’s first-ever custom-built diamond recovery vessel.

At a media brief, Chief Executive Officer at Debmarine Namibia, Otto Shikongo said the vessel named, AMV3, is the largest ever single investment in the marine diamond industry and is scheduled to commence operations in 2022.

According to Shikongo on completion the vessel is expected to add 500,000 carats annually to Debmarine Namibia’s production, an increase of approximately 35% on current production.

“Following an extensive global process, Damen Shipyards were selected to build the ship based on their strong track record. The new vessel will incorporate the latest marine technologies that will drive improved performance while optimizing efficiency and utilization rates,” he added.

The Minister of Mines and Energy, Tom Alweendo, in absentia noted and appreciated the investment announced by Debmarine Namibia.

“It is through investments like this we can continue to develop Namibia’s economy. As the Government we will continue to do what we can to promote and encourage investment in the mining sector,” he added.

According to the miner, the new vessel is expected to create more than 160 new jobs alongside Debmarine Namibia’s current workforce of 975 employees.

Debmarine Namiia is a joint venture marine diamond prospecting and mining company owned in equal shares by the Namibian Government and De Beers Group and commenced operations in January 2002. It mining operations are all offshore along the southern Namib coastline.


 

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