Diamond Fields restarts marine mining

Vancouver – Mining operations have commenced on Diamond Fields International’s (DFI-T) marine diamond concessions off the southern coast of Namibia.

Diamond Fields has a 50/50 joint venture with Samicor Mining Services, owned by the LL Mining division of the Leviev Group, who are conducting the operations on marine diamond licence ML 111 near Luderitz.

Samicor’s mv Kovambo, a 104 metre, 3,300-ton vessel, has commenced operations on the licence utilizing its high capacity Seabed crawler, a remote controlled tracked mining vehicle. It is anticipated this latest generation technology will significantly increase production over previous air-lift operations.

Diamond Fields has previously produced over 65,000 carats of diamonds in the area with 95% being of gem quality.

Investors jumped on the news, pushing the share price up 5% to 64, at presstime, on volume of 340,800 shares.