De Beers Expands Namibian Mining Fleet

(IDEX Online News) – De Beers is enlarging its fleet of diamond mining vessels, unveiling mv Mafuta a ceremony in Windhoek, Namibia on Monday April 8. The mining vessel is expected to produce approximately 350,000 carats annually.

The mv Mafuta will be the largest mining vessel in Debmarine's fleet, planned to produce approximately 30 percent of Debmarine's annual production of about 1 million carats.

It is joining four other diamond-mining ships operated by Debmarine, a 50/50 joint venture between De Beers and the government of Namibia.

Debmarine mines offshore on the southwestern coast of Namibia, at water depths of up to 140 meters.

Debmarine Namibia purchased Mafuta for $72.8 million from De Beers Consolidated Mines in November 2012.

According to CEO Otto Shikongo, Debmarine is currently the largest diamond producer in Namibia. In 2012, Debmarine's turnover neared $447 million, accounting for around $145 million to the Namibian treasury in taxes and royalties, as well as $60 million in dividends to its shareholding company.