Marine diamond miner
Measured and indicated resources in adjoining “features” 19 and 20 tripled to 1.2 million carats. Consequently, combined inferred resources fell to 1.64 million carats from 2.36 million carats, which includes features 11, 12, 18 and 22.
Marine & Coastal Geo-Consultants carried out the reassessment, following Australian regulations and using a cutoff grade of 0.1 carat per sq. km. Most of the increase occurred as a result of upgrading all of the inferred resources in feature 19, owing to greater confidence in the geological controls on grade distribution and the inclusion of more sampling results.
Namibian Minerals began mining in the Luderitz Bay area in April 1998 and, as of November, had produced 72,900 carats. In addition to the mining licence, the company owns more than 6,400 sq. km of marine concessions off the coasts of Namibia and South Africa.
Exploration continues, with current efforts focused on the Hottentot Bay grant.
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