Namdeb produced diamonds worth N$ 41 billion

WINDHOEK: The Namibian diamond mining company, Namdeb has for the last two decades produced more than 15 million carats worth N.dollars 41 billion on land operations.

Namdeb’s Chief Executive Officer Inge Zaamuani said N.dollars 12 billion were distributed to shareholders, of which 80 per cent went to the government.

She was speaking at the information-sharing session with the company’s stakeholders which took place in Windhoek on Thursday.

The session was aimed to give perspective of the contribution that diamond mining has made to Namibia’s economy over the last 20 years.

Stakeholders were also given insight to the marketing of diamonds worldwide.

Zaamuani-Kamwi said more than 70 per cent of Namdeb’s procurement spend is from Namibian producers and services providers.

“These milestones are testimony of our mission which is to produce diamonds profitably, sustainably and responsibly, for the benefit of our shareholders and other stakeholders whilst making a lasting contribution to Namibia,” he said.

In total, she said, from land operations, Namdeb has contributed more than N.dollars 9 billion to the Namibian economy through royalties, taxes and dividends over the past 20 years.

Namdeb employs over 1 800 permanent employees, a multitude of contractors and through the supply chain, the company is connected to many lives, Zaamuani-Kamwi boasted.

As recent as six years ago, the ‘life-of-mine plan’ showed that the company would have closed down the operation in 2012.

However, she said, through innovation, Namdeb continue to play a significant role in the Namibian economy.

She said, Namdeb geologists have added more than 13 million carats to the resource since 1994, a staggering 670 000 carats per year.

“By seeking out these opportunities, we were able to create new mines, build new processing plants and develop new technology and mining methods,” she said.

“Our mine’s plan now goes to 2031, and we continue to work on our vision of taking Namdeb’s life-of-mine to 2050 and beyond,” she said.

Two weeks ago, Namdeb inaugurated its Sendelingsdrif mine as well as the state of art recovery and sorting facility, the Red Area Complex, built at a combined cost of N.dollars 528 million, as part of 2050 Project.

The mine is second Namdeb’s largest mine in Orange River licence area.

“These development are a marker to our commitment of ensuring that Namibia will continue to hold its place as a world leader and centre of excellence in alluvial diamond prospecting and mining,” she said.

SOURCE: NAMPA