Debmarine Namibia on Friday officially inaugurated its latest diamond recovery vessel, Benguela Gem, previously the AMV#3 (Additional Mining Vessel 3), which will commence operations from next week, well ahead of its original schedule.
The vessel, which will create 160 highly skilled jobs, is expected to boost Debmarine’s annual diamond production by an additional 500 000 carats of diamonds.
The additional carats are expected to boost revenue that the partnership between De Beers Group and the Namibian Government generates in Namibia each year by more than N$10 billion.
Otto Shikongo, Debmarine Namibia CEO speaking during the event at Walvis Bay, said the N$7 billion investment by the diamond company was driven by its forward-thinking approach when it comes to its operations.
“The Benguela Gem is a culmination of a dream, a realization of a vision. A dream that started about 10 years ago,” he said.
Taking two years to construct, the Benguela Gem was designed in Norway and Poland, built in Romania and fitted out with its proprietary mission equipment by De Beers Marine South Africa, making it , according to the company, the most technically advanced diamond recovery vessel in the world, underpinned by high standards of sustainability and safety performance.
“In a world where there is global competition for capital – and where capital has become increasingly mobile – it is most pleasing to see that we are able to witness the fruits of this fantastic investment. The investment in this vessel is not just an investment in a diamond recovery vessel. It is an investment in the future of Namibia,” Mines minister Tom Alweendo said.
“The Benguela Gem is the first of its kind and represents an outstanding feat of engineering design, technology innovation and sustainability performance. Despite significant challenges presented by Covid-19, the project was delivered ahead of time and budget – a testament to the world-leading skill and expertise of all involved. The investment in this vessel will support a long term, sustainable future for Namibia’s diamond sector, which is home to some of the most sought-after diamonds in the world,” De Beers Group CEO, Bruce Cleaver said.
The Benguela Gem is expected to operate for at least 30 years and will form part of the fleet operated by Debmarine which recovers diamonds at 90 to 150 metres below sea level.
The vessel was constructed through co-funding from five banks, namely Nedbank, RMB, Standard Bank, Bank Windhoek and ABSA, with Debmarine Namibia covering 25% of the total project cost.
Debmarine Namibia is a 50/50 joint venture between De Beers Group and the Government of Namibia.
