Connect with us

Headlines

De Beers Plans $468M Diamond-Recovery Ship

It will be the seventh vessel in the Debmarine Namibia fleet.

mm

Published

on

De Beers Plans $468M Diamond-Recovery Ship
Shown here is a different Debmarine Namibia vessel.

Debmarine Namibia, a joint venture between the Republic of Namibia and De Beers Group, announced plans for the world’s first custom-built diamond recovery vessel.

The vessel is expected to cost $468 million and represents the “largest ever single investment in the marine diamond industry,” according to a press release from the company.

Conquering Inflation Part 4: Losing Customers
Slow Growth Business

Conquering Inflation Part 4: Losing Customers

Conquering Inflation Part 3: Cutting Costs
Slow Growth Business

Conquering Inflation Part 3: Cutting Costs

Retail Predictions for 2025: Opportunities and Challenges Ahead
Slow Growth Business

Retail Predictions for 2025: Opportunities and Challenges Ahead

The ship will become the seventh vessel in the Debmarine Namibia fleet and is scheduled to begin operations in 2022. It’s expected to add 500,000 carats annually to Debmarine Namibia’s production, an increase of about 35 percent on current production.

Damen Shipyards was selected to build the ship.

Tom Alweendo, minister of mines and energy for Namibia, said: “We note and appreciate the investment announced today by Debmarine Namibia.

“It is through investments like this we can continue to develop Namibia’s economy. As the Government we will continue to do what we can to promote and encourage investment in the mining sector.”

Advertisement

Bruce Cleaver, CEO of De Beers Group, said: “Some of the highest quality diamonds in the world are found at sea off the Namibian coast. With this investment we will be able to optimise new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe.”

The vessel is expected to create more than 160 new jobs alongside Debmarine Namibia’s current workforce of 975 employees.

Advertisement

SPONSORED VIDEO

After 139 Years, A Family Legacy Finds Its Perfect Exit With Wilkerson.

When third-generation jeweler Sam Sipe and his wife Laura decided to close Indianapolis’ historic J.C. Sipe Jewelers, they turned to Wilkerson to handle their retirement sale. “The conditions were right,” Sam explains of their decision to close the 139-year-old business. Wilkerson managed the entire going-out-of-business sale process, from marketing strategy to sales floor operations. “Our goal was to convert our paid inventory into retirement funds,” notes Sam. “The results exceeded expectations.” The Sipes’ advice for jewelers considering retirement? “Contact Wilkerson,” Laura says. “They’ll help you transition into retirement with confidence and financial security.”

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular