Key points
- The mining licence runs for 15 years and covers the full area evaluated during last year’s exploration program.
- Exploration at Koichab established a resource of 2.4 million carats of gem quality diamonds.
- The company is developing an 85 tonne subsea crawler system, NAMMSOL, in partnership with SubSea Offshore Ltd, a Dresser Industries company.
- NAMMSOL is scheduled to begin operations in the third quarter of 1997.
The Namibian Ministry of Mines and Energy has formally announced its decision to grant the company a mining licence over the Koichab prospect of its Luderitz bay grant.
The mining licence is for 15 years and encompasses all of the area which the company successfully evaluated last year. The exploration program established a resource of 2.4 million carats of gem quality diamonds in the Koichab area.
In partnership with SubSea Offshore Ltd, a Dresser Industries Co, the company is currently developing an 85 tonne subsea crawler system, the NAMMSOL, which is scheduled to start operations in third quarter 1997.
