Debmarine Namibia to add seventh vessel
The new custom-built diamond recovery vessel Likely to begin production by 2022! Anglo American plc announces the approval by Debmarine Namibia, a 50:50 joint venture between De Beers Group and the Government of the Republic of Namibia, of the construction of a new custom-built diamond recovery vessel. At an expected total capital cost of $468 million ($234 million attributable to Anglo American), this new vessel will become the seventh in the Debmarine Namibia fleet, expected to begin production in 2022 with the capacity to add 500,000 carats of annual production, a 35% increase above Debmarine Namibia’s current levels. Mark Cutifani, Chief Executive of Anglo American, said: “The addition of this custom-built vessel for the Debmarine Namibia joint venture will bring numerous benefits – in terms of De Beers’ production profile by value and volume, the technologies that can be deployed from the outset to deliver greater efficiency and productivity, and sustained e...