Key points
- Diamond Fields Namibia (Pty.) Ltd. received renewal of exclusive prospecting licence EPL 1607, covering approximately 540 square kilometres offshore near Luderitz, Namibia.
- The two-year renewal is the maximum period allowable under the Namibian Minerals Act, though the act does not limit the number of renewals granted.
- The licence has been held by the company and its predecessor, Diamond Fields Resources, since 1993.
- Diamond Fields holds four exclusive prospecting licences and one mining licence offshore near Luderitz in total.
Diamond Fields’ wholly owned Namibian subsidiary, Diamond Fields Namibia (Pty.) Ltd., has formally been granted renewal of its exclusive prospecting licence EPL 1607, covering the company’s prime prospective offshore area near Luderitz, Namibia. The licence area is approximately 540 square kilometres in extent and contains most of the diamond bearing features thus far identified by the company. The two-year renewal of the licence, which has been held by the company and its predecessor Diamond Fields Resources since 1993, is the maximum period allowable under the Namibian Minerals Act for any renewal period. However, the act does not limit the number of renewal periods that may be granted to complete exploration and development. In total, the company holds four exclusive prospecting licences and one mining licence offshore in the vicinity of Luderitz.
Diamond Fields International is pleased to have the Namibian government’s continued confidence in, and support of, its activities in Namibia. The company continues to be most favourably encouraged by the stable fiscal,
regulatory and political regimes of the country.
Based on initial results received, the company believes that exclusive prospecting licence EPL 1607 potentially contains some of the most profitable marine diamond deposits known. The company’s current key focus is on the continued sampling and development of its marine diamond concessions in Namibia. Diamond Fields International is a Canadian based international diamond mining and exploration company.
