Marine and land-based mining company Diamond Fields International has reaffirmed its commitment to its Namibian operations, announcing at the start of November an initial mining programme for its ML111 licence in offshore Namibia in 2018.
The initial mining programme for the licence area will extend over a seafloor area of about 55 ha. The programme is to be carried out using the 9 111 t Ya Toivo mining vessel.
The vessel is equipped with a four-point mooring system-integrated anchor-assist, as well as a dynamic positioning system, which ensures that it remains stable during turbulent sea conditions. In addition, the vessel is equipped with a remotely operated subsea tractor, capable of highly efficient and selective mining on the seafloor.
Diamond Fields International has further concluded discussions with International Mining & Dredging Holdings (IMDH) regarding its share of the 2016 bulk sampling programme. All costs associated with the multimillion-dollar programme were paid for by IMDH. Both parties have agreed that Diamond Fields International will be paid $670 000 within 30 days, Diamond Fields International said on November 20.
The results from the bulk sampling programme were encouraging, with an unexpectedly high frequency of large, high-value stones. Diamonds recovered from the company’s ML111 licence are typically of the highest gem quality, but recent bulk sampling results have exceeded expectations, Diamond Fields International says.
Diamond Fields International CEO Sybrand van der Spuy expressed his enthusiasm at finding such high-value diamonds. “We are extremely excited at the prospect of being back in production in the very near future. “Our product is recognised throughout the world for its exceptional quality . . . and we look forward to bringing this niche product back to the market again. This programme will provide our company with the opportunity to generate significant cash flow in short order.”