Diamond Fields International to resume Namibian diamond mining activities
Vancouver-based Diamond Fields International (TSXV:DFI) is set to resume diamond mining activities off the coast of Namibia in 2018 following a stoppage caused by weather conditions and executives’ need to devote time to build a new partnership structure and mining plans.
Diamond Fields had formed an alliance with International Mining and Dredging Holdings, within which the Canadian miner ran a bulk sampling program whose results officials say “were extremely encouraging, with an unexpected high frequency of large, high-value stones.” According to Diamond Field’s CEO Sybrand Van Der Spuy, “Diamonds recovered from the Company’s ML 111 in Namibia are typically of the highest gem quality, but recent bulk sampling results have exceeded our expectations. “
Work will resume with a focus on targeting a seafloor area of approximately 55 hectares. The plan will be executed through using the Ya Toivo mining vessel, which is equipped with a 4 point-mooring-system integrated anchor-assist and a dynamic positioning system which ensures vessel stability during turbulent sea conditions. The vessel is further equipped with a Remotely Operated Subsea Tractor which, the company says, is “capable of highly efficient and selective mining on the sea floor.”
The company’s key Mining License, ML111 will be renewed for a period of 10 years by Namibian Ministry of Mines and Energy. It is expected that the license will be re-issued on or before December 20, 2017.
In order for the mining license to be renewed, Diamond Fields is required to undertake a renewed environmental impact assessment and have an Environmental Management Plan Report prepared and approved. As well, the Company must ensure that at least 5% of its local subsidiary is under ownership of Namibian persons.
Diamond Fields is pleased to reaffirm its ongoing commitment to its Namibian operations with this announcement. Van Der Spuy further says “”We are extremely excited at the prospect of being back in production in the very near future. Our product is recognized throughout the world for its exceptional quality, being 98% gem and we look forward to bringing this niche product back to the market again. This program will provide our Company with the opportunity to generate significant cash-flow in short order.”
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