Acquired by private equity firm Kezoll Capital in partnership with LK Mining, the Adamastor offshore diamond mining vessel has arrived at Lüderitz harbour and is set to commence operations in Hottentots Bay
The vessel is outfitted with state-of-the-art marine mining technology and is capable of extracting diamonds up to depths of 32 metres. Advanced systems include hydraulic extraction, onboard diamond processing and a dynamic positioning system mean that the vessel will surely become an important asset for Kenzoll Capital and its local partners in Namibia’s offshore mining sector.
“This is a landmark moment for Kenzoll Capital and our partners at LK Mining,” said Lazarus Jacobs, representative of LK Mining. “The arrival of the Adamastor represents more than just an operational achievement – it’s a testament to our dedication to Namibia’s mining industry and the economic and social development of the Lüderitz region.”
A ripe diamond market
The acquisition and deployment of the Adamastor vessel in is aimed at taking advantage of the Namibian coast being recognised as one of the richest deposits of premium-quality gem diamonds globally. This reputation, and the country’s stable political environment, has made it a favourable location for further investment, despite the instability in the international diamond sector. Initial assessments of Hottentots Bay indicate promising diamond recovery rates, with yields expected to average between 0.2 and 0.4 carats per cubic meter.
Diamond mining vessel begins operations in Namibia
The vessel has successfully reached Namibian waters and is set to commence operations in Hottentots Bay. (Image source: Kenzoll Capital)
