• Future prospects

    Future prospects

    Diamond discoveries on land bordering the southern Atlantic coastal areas of Namibia could very well extend the country’s mining operations by another 50 years.

    Namdeb Diamond Corporation – jointly owned by the Namibian government and Anglo American’s De Beers – uses the latest technology to push back the sea by creating an artificial sea wall. This has led to recent discoveries made behind the inter-tidal zone.

    According to a Bloomberg report, the country’s Atlantic coast holds an estimated 80 million carats of gems – the world’s richest marine diamond deposit – which were carried to the sea by the Orange river, and could be mined beyond 2050.

    To add to future growth within the sector, a decade-long deal was signed in May between the government and De Beers to obtain US$430 million of rough diamonds annually for sale through Namibia’s Diamond Trading Company.

    26 July 2016
    Image: Gallo/Getty Images