Leviev Plans To Continue Mining In Namibia
October 19, 03
Israeli diamantaire Lev Leviev’s Marine Diamonds Mining will start mining Namibian Minerals Corporation (Namco) old concessions off the Namibian coast by February of next year.
MDM is owned by LL Mining, Leviev’s mining group, and is responsible for the marine mining operations. LLD, Leviev’s diamond marketing based in Israel will market MDM’s goods. MDM, together with Sakawe Mining, has bought $13.5 million on Namco assets including 15,000 sq km of marine diamond concessions between Baker’s Bay and the Skeleton Coast, estimated to hold 12 million mineable carats.
In related news, LL Mining CEO Arye Barboy revealed that the company is planning to build a cutting and polishing plant in the country within a year or two.