Diamond discoveries on land bordering the southern Atlantic coastal areas of Namibia could very well extend the country’s mining operations by another 50 years.
Namdeb Diamond Corporation – jointly owned by the Namibian government and Anglo American’s De Beers – uses the latest technology to push back the sea by creating an artificial sea wall. This has led to recent discoveries made behind the inter-tidal zone.
According to a Bloomberg report, the country’s Atlantic coast holds an estimated 80 million carats of gems – the world’s richest marine diamond deposit – which were carried to the sea by the Orange river, and could be mined beyond 2050.
To add to future growth within the sector, a decade-long deal was signed in May between the government and De Beers to obtain US$430 million of rough diamonds annually for sale through Namibia’s Diamond Trading Company.
