AMV3 diamond recovery vessel, Namibia
Name of the Project
AMV3 diamond recovery vessel.
Location
Namibia.
Project Owner/s
Debmarine Namibia, a 50:50 joint venture between De Beers Group and the Namibia government.
Project Description
The project involves the construction of a new custom-built diamond recovery vessel, to be known as the AMV3, which will become the seventh in the Debmarine Namibia fleet, with the capacity to add 500 000 ct/y to production, a 35% increase on Debmarine Namibia’s current levels.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an internal rate of return of more than 25% and a payback of three years.
Capital Expenditure
The project is estimated at $468-million.
Planned Start/End Date
Production is expected to begin in 2022.
Latest Developments
Five African commercial banks have partnered in a $375-million financing deal to build the new diamond recovery vessel.
Nedbank Namibia, RMB Namibia, Standard Bank, ABSA and Bank Windhoek have agreed to provide 80% of the funding for the ship, which will be the world's largest of its type.
Debmarine Namibia will provide the balance of $94-million.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Too early to state.
Contact Details for Project Information
De Beers Group (South Africa), Pranill Ramchander, tel +27 11638 2592 or email pranill.ramchander@angloamerican.com.
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