Key points
- Diamond Fields International received formal documentation for mining licence ML111 from Namibia’s minister of mines and energy.
- The licence, granted to DFI’s wholly owned Namibian subsidiary, covers approximately 310 square kilometres and has an initial tenure period of 15 years.
- ML111 covers all resource areas identified by Diamond Fields to date, including the Sea Diamond project areas.
- A feasibility study completed in August 2000 outlined an indicated and inferred resource of 1.1 million carats, over 95 per cent of gem quality.
Diamond Fields International has received from the Namibian minister of mines and energy, formal documentation for mining licence ML111, offshore Luderitz, Namibia, granted to DFI’s wholly owned Namibian subsidiary. The licence area, covering approximately 310 square kilometres, has been granted for an initial tenure period of 15 years. ML111 covers all identified resource areas outlined to date by Diamond Fields, including the Sea Diamond project areas which were part of the positive feasibility study completed in August, 2000.
Francis J. Waldron, chief executive officer, stated: “The company expresses its sincere appreciation to the government of Namibia, the minister of mines and energy, and his staff for their help and support working with Allan Walden, Diamond Fields manager of Namibia, through this process. This is an important step in moving the project forward and the management team is working aggressively to take the project into the mining phase. Diamond Fields is continuing to negotiate with several international financial and strategic partners to fund and implement the project.”
The feasibility study completed in August, 2000, outlined an indicated and inferred resource totalling 1.1 million carats with over 95 per cent of these diamonds being of gem quality.
