Keeping the third quarter of 1997 as its target production date, Namco (NMR-T) has arranged for the design and construction of a marine diamond mining system, to be used at its licence areas off the coast of Namibia.
Work on the system will start immediately. The estimated cost, based on a long-term charter of one vessel (and including commissioning and sea trial costs) is US$20 million.
The mining system will enable Namco to mine its sea-floor properties at an average rate of 20 hours per day for a minimum of 300 days per year in sea swells of up to 6 metres.
Namco claims the system can deliver more than 1 million cubic metres of solids in its yearly production cycle, cleaning diamonds from the sea floor with more than 90% efficiency. Material will be processed on-board the ship through a 50-tonne-per-hour heavy media separation plant.
Mining will begin in the Luderitz Bay grant’s Koichab deposit, where the average stone size is 0.36 carat and the average value is US$200 per carat.
The company’s objective is to produce 150,000 carats annually.
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