Aim-listed alluvial-diamond-mining company Namibian Resources, which mines diamonds on behalf of Namdeb, is placing its operations in Namibia on care and maintenance, while the 
outlook for diamond markets 
remains uncertain.

The cost of the Namibian 
operations will, as a consequence, be reduced to the minimum 
required to maintain the plant and equipment.

In December, Namdeb, a joint venture between the Namibian government and world number one gem-miner De Beers, imposed a quota on Namibian Resources’ production.

However, the world diamond markets have declined further since then, with large reductions in quantities of both rough and polished diamonds sold, and 
substantial declines in open-
market diamond prices.

Namibian Resources says that its directors will continue to monitor the situation, and will seek other projects which can be brought into the company.

Namibian Resources’ Namdeb concession comprises the Sperrgebiet and the Luderitz district of Namibia.

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