Diamond Fields to resume mining off Namibian coast next year -

Diamond Fields to resume mining off Namibian coast next year

Credit: mining.com

  • Dec 05 2017 18:10About: 9 days ago
  • 11 views

Canada’s Diamond Fields International (TSX-V:DFI) will resume mining off the coast of Namibia in 2018, as the country’s Ministry of Mines and Energy has renewed the company's licence for a period of ten years.

The Vancouver-based company had signed an agreement with International Mining and Dredging (IMDH) to kick off an initial mining program on its ML 111 licence, but was waiting for the permit to arrive before moving forward.

Marine diamond production has outperformed land-based mining in Namibia as of late. In 2016, the country produced 1,7 million carats of marine diamond compared to 403,000 carats recovered on land.

The initial mining program, which will extend over a sea floor area of about 55 hectares, is to be executed using the state of the art Ya Toivo mining vessel. The ship is equipped with a four-point-mooring-system integrated anchor-assist and a dynamic positioning (DP2) system that ensures vessel stability during turbulent sea conditions.

Ya Toivo is further equipped with a Remotely Operated Subsea Tractor, capable of highly efficient and selective mining on the sea floor.

Namibia has over 3,700 square miles of marine diamond concession along its south-west coast, which is expected to support the industry for the next 50 years.

Marine diamond production has outperformed land-based mining in the last few years. In 2016, Namibia produced 1,7 million carats of marine diamond compared to 403,000 carats recovered on land.

The country’s main diamond miner — Debmarine Namibia — has been mining sea diamonds off the southern coast since its inception in 2002. It is a 50/50 joint venture between the Namibian Government and Anglo American’s De Beers Group.

Diamonds are key to Namibia as they account for about 20% of its foreign export earnings. The country gets 80 cents of every Namibian dollar generated by its joint venture with De Beers, which is equivalent to more than N$10 billion in revenue a year.

The post Diamond Fields to resume mining off Namibian coast next year appeared first on MINING.com.



Follow Us on Twitter

country’s Ministry Mines Energy renewed Canadian miners licence years. The post Diamond Fields resume mining Namibian coast next year appeared first MINING.com.

Related stories with Diamond Fields to resume mining off Namibian coast next year

Man masturbates in a clothing store in front of the female clerk -World News
Man masturbates in a clothing store in front of the female clerk 9 days ago
in a store, a man in blue clothes in the selection of goods, facing the female saleswoman exposing the lower body to do indecent action. During the female salesperson did not perceive the man perverted move, after a period of time, the man finishing clo
Institutional Investors See 'Dramatic Changes' In 2018 -World News
Institutional Investors See 'Dramatic Changes' In 2018 9 days ago
A Natixis survey of hundreds of institutional fund managers shows that most are not taking defensive measures as easy money subsides next year.
Quebec Tries to Say Au Revoir to ‘Hi,’ and Hello to ‘Bonjour’ -World News
Quebec Tries to Say Au Revoir to ‘Hi,’ and Hello to ‘Bonjour’ 9 days ago
Quebec’s legislature has passed a motion calling for merchants to greet customers with “Bonjour” rather than the unofficial “Bonjour Hi.”
Toblerone vs. Poundland: A Food Fight With Peaks and Troughs -World News
Toblerone vs. Poundland: A Food Fight With Peaks and Troughs 9 days ago
After the Swiss company reconfigured its iconic Matterhorn-shaped chocolate bar, the British discount chain released a rival, Twin Peaks. (Lawyers were called.)
Blue Sky Uranium wants to be the first domestic supplier in Argentina -World News
Blue Sky Uranium wants to be the first domestic supplier in Argentina 9 days ago
Hannah Bernard speaks with Niko Cacos, President and CEO of Blue Sky Uranium, about the company’s potential in southern Argentina.
Starbucks is about to open the biggest cafe in the world in China. It’s the size of half a soccer pitch -World News
Starbucks is about to open the biggest cafe in the world in China. It’s the size of half a soccer pitch 9 days ago
Starbucks is counting on China's affluent consumers to offset stagnant growth in the rest of the world
Trump tells Abbas of intention to move embassy to Jerusalem - Palestinian spokesman -World News
Trump tells Abbas of intention to move embassy to Jerusalem - Palestinian spokesman 9 days ago
WASHINGTON/GAZA (Reuters) - President Donald Trump told Palestinian President Mahmoud Abbas on Tuesday that he intends to move the U.S. Embassy in Israel to Jerusalem, a Palestinian spokesman said, amid a growing outcry across the Middle East against any
Autosport F1 driver ratings - Ben Anderson answers reader questions -World News
Autosport F1 driver ratings - Ben Anderson answers reader questions 9 days ago
Autosport's Grand Prix Editor Ben Anderson dropped into the Autosport Forums to answer Formula 1 fans' questions about his driver ratings collated after every grand prix
John Mayer Hospitalized for Emergency Appendectomy -World News
John Mayer Hospitalized for Emergency Appendectomy 9 days ago
John Mayer attends the 57th Grammy Awards at Staples Center in Los Angeles on February 8, 2015. Jason Merritt/Getty Images John Mayer was hospitalized in New Orleans early Tuesday, December 5, for an emergency appendectomy. Celebrity Health Scar
Vauxhall Insignia GSi to start from £33,375 -World News
Vauxhall Insignia GSi to start from £33,375 9 days ago
News 5 Dec, 2017 Performance-based Vauxhall Insignia GSi was first shown at Frankfurt, and is available to buy in showrooms from March
Amazon and Facebook to compete for live sports supremacy in 2018, new report predicts -World News
Amazon and Facebook to compete for live sports supremacy in 2018, new report predicts 9 days ago
Amazon is poised to become a live sports powerhouse as soon as next year, a new report predicts, as more tech companies are seeking out streaming rights for top leagues in the U.S. and abroad. The report from Juniper Research covers 10 tech trends for 201
German tourist killed in attack in northern Ethiopia -World News
German tourist killed in attack in northern Ethiopia 9 days ago
The German Foreign Office has confirmed that a German national has been killed in an attack in northeastern Ethiopia.