Diamond Fields International has concluded a purchase agreement for a vessel which, after conversion, will become the company’s first fully owned and operated diamond mining vessel.
The 3,887-gross-ton vessel, with principal dimensions of length 91.95 metres, beam 18.02 m and loaded draught of 4.21 m, was sourced in Europe and is expected to be delivered to Cape Town, South Africa, where a major program of conversion will take place, including the installation of a diamond processing plant, enhanced dual air lift mining system and ancillary equipment. The company has conducted extensive physical checks and inspections as well as technical planning and research with respect to its suitability for conversion for the diamond mining function. Preparations for the conversion program are well advanced.
Roger Daniel, operations director of DFI, commented: “This is an historic event in the stated development program for our vast marine diamond resources. We gained considerable mining knowledge and experience during our joint venture operations and we are now very confident that the new vessel, as reconfigured, will prove to be a highly effective unit that will contribute significantly to the profitability of Diamond Fields International.”
Commissioning and commencement of diamond mining operations with this vessel is scheduled for mid-2003. A photograph of the mining vessel can be viewed at the company’s Web site at www.diamondfields.com under Investor Relations/Press Releases.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
