SA’s De Beers Targets 1.16million Carats in Namibia

DEB Marine Namibia, the 50-50 venture between the government and De Beers, has maintained a production target of more than 1.16 million carats in the ongoing financial year, Chief Executive Officer, Otto Shikongo, said.

The production target for this year is expected to be in the same margin with last year’s production.

ldquoWe are not yet certain of the production targets but our projections are that it should more in the range of about 1.16 million carats like last year.

“It is important to note that we can only produce according to what the resource gives us and also according to ability of the company,rdquo Shikongo said.

However he could not give the detailed financials of the company wing saying, ldquoThe Company’s financials are a joint responsibility of with the government so they have not been published as yet so we will not be able to publish them as yet.rdquo

Deb Marine’s projections come at a time the diamond industry is recovering after taking a heavy knock in the 2008 to 2009 because of the global economic crisis.

Diamonds are among the country’s major foreign currency earners and contribute significantly to treasury through royalties and taxes.

Shikongo meanwhile revealed DEB Marine had managed to invest in skills development of the local population but bemoaned the growing skills deficit in the highly-technical industry.

ldquoWith the other three or four mines coming up soon in the country it will be difficult to keep skills as we have to share the available skills with everyone in the industry,rdquo he said.

Source : CAJ News Agency