https://www.miningweekly.com
Construction|Diamonds|Efficiency|Technology
Construction|Diamonds|Efficiency|Technology
construction|diamonds|efficiency|technology

Debmarine Namibia to invest $468m in its seventh diamond recovery vessel

De Beers CEO Bruce Cleaver

De Beers CEO Bruce Cleaver

16th May 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Debmarine Namibia, a joint venture between diamond miner De Beers and the Namibian government, has approved the construction of a new custom-built diamond recovery vessel, which will become the seventh such vessel in Debmarine’s fleet.

The vessel, which will be built at a cost of $468-million, will start production in 2022 and is expected to add about 500 000 ct/y of production capacity to Debmarine Namibia’s output. This represents an increase of about 35% on current output levels.

De Beers parent company Anglo American’s CEO Mark Cutifani on Thursday said the addition of this custom-built vessel would bring numerous benefits in terms of De Beers’ production profile by value and volume, the technologies that can be deployed from the outset to deliver greater efficiency and productivity, as well as sustained economic benefits for Namibia.

The “highly attractive” investment offers a three-year payback, a more than 25% internal rate of return and an earnings before interest, taxes, depreciation and amortisation margin of more than 60%.

De Beers CEO Bruce Cleaver pointed out that some of the highest quality diamonds in the world are found at sea off the Namibian coast.

“With this investment, we will be able to optimise new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe.”

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.083 0.117s - 87pq - 2rq
Subscribe Now