Diamond Fields International Ltd.’s mining
ship, the DF Discoverer, has arrived at the Marshall Forks East region of
DFI’s exclusive licence area and will begin mining immediately. Commenting on
the move, Wayne Malouf, Diamond Field’s chief executive officer, said: “DFI has been excited about
the resource in Marshall Forks. With the completion of the current phase of
mining in the Dias Reef joint operations area of DFI’s ML 111 licence, the
marine team believes it the right time to shift focus to Marshall Forks, where
the company has exclusive rights.”
Diamond Fields and Bonaparte Diamond Mines NL have jointly completed the current phase of joint mining operations
in the Dias Reef joint operations area within DFI’s MIL111 mining licence.
Despite record sales prices and some recent vessel operating improvements
achieved by the marine team, sharp increases in fuel and certain other
supplies have led the parties to conclude that the economic return of mining
the resources so far identified within the joint operation area does not
warrant moving into the next phase of joint operations. Additional resources
in the joint operations area will be available for future mining should the
economics warrant.
Diamond Fields’ offshore Namibian mining licences cover an area of
approximately 719 square kilometres, of which approximately 708.8 square
kilometres, or 98.5 per cent, is outside the ML 111 joint-venture area
