Coronavirus: Demand for Marine Diamonds is Down
March 10, 21
(IDEX Online) - Debmarine Namibia, the world's largest largest marine diamond mining company, has reported a 13 per cent drop in production.
The company, a joint venture between De Beers and the Namibian government, produced 1.125m carats as the global pandemic hit demand.
Debmarine's existing fleet dredges thousands of tonnes of sediment from 150 meters below the seabed, 12 miles off Namibia's south western coast.
The company reported revenue down five per cent to $427m, according to a Reuters report.
The miner's new $468m crawler ship, due to take to the seas early next year will add a half a million carat to its annual capacity, a 35 per cent increase on Debmarine's current potential production.
Pic shows one of Debmarine's current diamond ships