Debmarine Namibia, a joint venture between De Beers and the Namibian government increased its contribution to the government by 147% to N$4.7 billion in 2022.
Company chief executive Willy Mertens was quoted by New Era as saying that the contributions were made through royalties, tax and dividends.
Debmarine Namibia registered revenue of N$13.2 billion in 2022 with a free cash flow of N$3.6 billion.
Mertens also said that the company produced 1.725 million carats of diamonds last year, which was about 80% of the total diamond production in Namibia.
The new Benguela Gem vessel recovered 480 000 carats of diamonds in 2022 and contributed 28% of Debmarine Namibia’s 2022 output.
“Production increased by 52% primarily due to the new purpose-built vessel, the MV Benguela Gem, inaugurated in March 2022,” said Mertens.
“Consumer demand for diamond jewellery over 2022 performed quite well, resulting in 168% earnings increase before interest, taxes, depreciation and amortisation (EBITDA), with sight holders taking a cautious approach to restock after Christmas.”
Debmarine Namibia began operations in January 2002, and it mines off the southern coast of Namibia.
Namibia’s diamond mining contributed about N$30 billion over the last five years.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Exclusive
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
Vladimir Pilyushin: The jewelry market is not stand-alone and moves by the same laws as other markets
Vladimir Pilyushin is editor-in-chief of Russian Jeweler, a leading magazine about the jewelry industry in Russia. He told Rough&Polished about his view on the evolution of the jewelry industry in Russia and touched upon some of its problems.
16 september 2024
