12 °c
London
Monday, May 16, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Namibia to build US$468M world’s largest diamond mining vessel

FurtherAfrica by FurtherAfrica
June 26, 2019
in Africa, Commodities, Construction, Diamond, Logistics, Mining, Namibia
Reading Time: 2 mins read
848 26
0
Namibia to build US$468M world’s largest diamond mining vessel
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Nedbank Namibia, RMB Namibia, Standard Bank, ABSA and Bank Windhoek have partnered to support the construction of the world’s largest diamond mining vessel for diamond firm De Beers.

Debmarine Namibia, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers Group, announced that its Board of Directors have approved the construction of the world’s first ever custom-built diamond recovery vessel.

The new vessel is expected to cost US$468 million (N$7 billion) and represents the largest ever single investment in the marine diamond industry.

The ship will become the seventh vessel in the Debmarine Namibia fleet and is scheduled to commence operations in 2022. On completion, the vessel is expected to add 500,000 carats annually to Debmarine Namibia’s production, an increase of approximately 35 per cent on current production.

Following an extensive global tendering process, Damen Shipyards were selected to build the ship based on their strong track record for delivering quality vessels and their advanced technological capabilities. The new vessel will incorporate the latest marine technologies that will drive improved safety performance while optimising efficiency and utilisation rates.

Tom Alweendo, Minister of Mines and Energy, the Government of the Republic of Namibia, said: “We note and appreciate the investment announced today 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.”

Bruce Cleaver, CEO, De Beers Group, said: “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.”

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

Source: CCE News

Related

Tags: absaBank WindhoekBruce CleaverDamen ShipyardsDe Beers GroupDebmarine Namibiadiamonddiamond recovery vesselmining vesselNamibiaNamibia Minister of Mines and EnergyNedbank NamibiaRMB NamibiaStandard BankTom Alweendoнамибияناميبياナミビア纳米比亚
ScanSendShare350Tweet219Share61Pin79Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Mining

MRG applies for rare earth and uranium exploration in Mozambique

by Club of Mozambique
May 16, 2022
BP production in Angola is in decline since 2017
Energy

SOMOIL’s defies predictions and contributes to Angola’s oil growth

by Energy Capital & Power
May 16, 2022
The Forbes Billionaires’ list: Africa’s richest people 2022
Private Equity

LeapFrog and Tana co-invest in Interswitch

by Africa Global Funds
May 16, 2022
Economy

South Africa recovery efforts for sport and creative sectors

by FurtherAfrica
May 16, 2022
Reviewing the challenges of 2020 for the African aviation sector
Business

South Africa sets plans to cash in on revived national carrier

by FurtherAfrica
May 16, 2022
Great Limpopo Transfrontier Park
 
AFSIC 2022
 
MozParks

Translate this page

Read the Latest

Mining

MRG applies for rare earth and uranium exploration in Mozambique

by Club of Mozambique
May 16, 2022
0

The Australian based mining company MRG Metals announced on Wednesday that it has applied for three exploration licences for Rare...

Read more
BP production in Angola is in decline since 2017

SOMOIL’s defies predictions and contributes to Angola’s oil growth

May 16, 2022
The Forbes Billionaires’ list: Africa’s richest people 2022

LeapFrog and Tana co-invest in Interswitch

May 16, 2022

South Africa recovery efforts for sport and creative sectors

May 16, 2022
Reviewing the challenges of 2020 for the African aviation sector

South Africa sets plans to cash in on revived national carrier

May 16, 2022

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?