Namdeb Hopes To Extend Mining License By 15 Years

(IDEX Online) – Namibian national diamond miner, Namdeb, is hoping to extend the life of its alluvial diamond mines along the southern coast of the African country.

The company, a joint-venture between the Namibian government and De Beers, may be able to mine at its Elizabeth Bay, Southern Coastal and Daberasup operations until 2035 after the government extended its mining license by 15 years beyond 2020, General Manager Riaan Burger told Businessweek.

“We can easily go up to end of license period if we get the cost structures right,” he said. “With optimization of new technology, we are confident we can do more.”

Namdeb’s marine mining unit extracted 1.16 million carats from the floor of the Atlantic Ocean last year, while its land operations produced about 600,000 carats.

Namibia is also negotiating to sell some of the gems separately from an agreement it has with De Beers. That would bring it in line with Botswana which sells a proportion of its diamond production separately from its agreement with De Beers.