Namdia to Invest 3.4bnUS$ in Local Diamond Industry

Namibian Mining News reports that at Mining Indaba, Namdia has unveiled plans to invest a massive 3.4bn US$ over the next ten years, expanding its operations, including through social responsiblity actions in its "Equitable Economic Empowerment Framework" and renewing its focus on exploration, aligned with more accessible and up to date exploration licenses and mining rights information via an e-platform. Namibia, ramping up its activities in green energy rapidly, is a mineral-rich country with huge potential in critical minerals such as lithium and rare earths. According to Kimberley Process statistics, in 2022 the country ranked as 6th largest diamond producer, producing in excess of 2m ct, valued at 1.2bn US$, mainly through the Namdeb marine mining joint venture with De Beers, of which 15% is marketed by Namdia and the remainder is aggregated in Botswana.