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Lüderitz, Namibia – A new chapter in Namibia’s diamond mining history unfolded today as the Adamastor, a state-of-the-art offshore diamond mining vessel, arrived at Lüderitz harbour. Owned by a consortium led by Paragon Investment Holdings through its subsidiary, Edgehill Resources, alongside Epia Investments and Lazare Kaplan International Inc, the vessel is set to commence operations in Hottentots Bay.
The Adamastor, a technological marvel capable of operating in depths of up to 32 meters, is equipped with advanced hydraulic extraction and on-board diamond processing systems. This cutting-edge technology will enable efficient and precise underwater mining operations, unlocking the potential of Namibia’s rich offshore diamond deposits.
“This is a significant milestone for Namibia’s mining industry,” said Lazarus Jacobs, Representative of LK Mining. “The Adamastor’s arrival signifies our commitment to sustainable and responsible mining practices, and we are confident that this project will contribute to the economic growth and development of the Lüderitz region.”
Initial assessments of the Hottentots Bay mining area have been encouraging, with estimated diamond recovery rates ranging from 0.2 to 0.4 carats per cubic meter. The vessel’s operations are expected to generate substantial revenue for the Namibian economy and create employment opportunities for local communities.
The Adamastor’s arrival comes at a time when the global diamond industry is facing challenges. However, Namibia’s unique geological formations and the increasing demand for premium-quality diamonds continue to attract significant investment. This project underscores the enduring appeal of Namibia’s mining sector and its potential to drive economic growth and social development.
