View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
October 19, 2009

De Beer’s JV Restarts Diamond Mining in Africa

Namibian Resources plans to resume production work on a limited scale at its projects in Namibia. Namibian’s subsidiary Sonnberg Diamonds, which conducts diamond drilling work on behalf of the Namibian Government and De Beers’ joint venture NAMDEB, stopped work late last year following

By cms admin

Namibian Resources plans to resume production work on a limited scale at its projects in Namibia.

Namibian’s subsidiary Sonnberg Diamonds, which conducts diamond drilling work on behalf of the Namibian Government and De Beers’ joint venture NAMDEB, stopped work late last year following the collapse of the global diamond market.

The company, however, maintained its machinery and conducted geological studies to improve the model of its Pomona mine and its diamond deposits.

Unsecured loans from the company directors have ensured it has been able to stay afloat.

Namibian is also planning to buy additional equipment for Sonnberg to increase earlier production levels and to allow mining and sampling simultaneously.

New funding, through a share placing, is being sought from investors and institutions to finance increased output.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology