Afri-Can Marine Minerals raised its interest in the Block J marine diamond concession in Namibia to 70 per cent for a cash payment of $825,000 Namibian ($125,000 Canadian).
Afri-Can Marine Minerals has signed an agreement with Gemfarm Investments to conduct a 30-day follow-up sampling program on its Block J diamond concession off Namibia starting around Oct. 15.
Diamond Fields International filed a damages claim against Trans Hex Group in the Cape Town High Court over the 2002 suspension of Marshall Fork mining.
Diamond Fields International has concluded a purchase agreement for a 3,887-gross-ton vessel that will become its first fully owned and operated diamond mining vessel.
Namibian Minerals Corporation reported a second-quarter 2002 net loss of $24,954,000 (25 US cents per share), including a $15,685,000 goodwill impairment provision.
Namibian Minerals Corporation's mining vessel MV Ya Toivo recovered 16,417.55 carats on July 23 while mining Hottentot Bay Grant feature 22, a new single-vessel daily record.
Diamond Fields recovered more than 23,000 carats, including a 17.42-carat stone, from six months of mining at the MF5 portion of Marshall Fork off Luderitz, Namibia.