Diamond Fields International has engaged Gemfarm Investments (Pty.) Ltd. to carry out contract mining on Diamond Fields’ ML111 deposits near Luderitz, Namibia, using Gemfarm’s production vessel, the MV Anya, equipped with dual 24-inch airlift mining systems. The mining program is scheduled to commence on or about Nov. 15, 2002.
For more than a decade, Gemfarm has enjoyed a reputation for being an efficient, low-cost mining contractor for marine diamond deposits in southern Africa and has a client base that includes some of the leading diamond mining companies in the world. Gemfarm’s experience makes it the ideal candidate to assist DFI in restarting production. DFI looks forward to developing its relationship with Gemfarm through the course of the mining program, which is initially planned to last up to three months.
“The MV Anya’s dual 24-inch airlift systems have a capacity to cover 188 per cent more ground in the same amount of time as the single 20-inch airlift system that the MV Namakwa used in our joint venture operations. We expect that production with the MV Anya will significantly exceed that of the Namakwa and will generate considerable cash flow for DFI and lucrative contract fees for Gemfarm,” said Roger Daniel, director of operations of Diamond Fields. Production with the MV Namakwa averaged nearly 4,000 carats per month in 2002.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
