20-5-2019
De Beers and the Namibian government will build a US$468 million vessel for diamond mining operation off the Namibian coast with US$234 million attributable to its parent company, Anglo American.
The vessel is a 50:50 joint venture between De Beers and the government of Namibia. It will be the seventh ship for the miner’s Debmarine Namibia fleet is slated to operate in 2022 with an expectation to add 500,000 carats annually to the fleet, a 35 percent increase on the current output.
Diamond mining contributed 14 percent of Namibia’s GDP in 2018, the same as the accounted percentage for Anglo American’s core profit last year. Mark Cutifani, Chief Executive of Anglo American said: “The Debmarine Namibia joint venture will 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, and sustained economic benefits for Namibia.
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