The Northern Namibia Development Company Diamond Mine in the Kunene Region could resume operations if it secures more than N$20 million ($1.2 million) in investment, NBC News reports.
Despite completing exploration and obtaining the necessary documentation, the project stalled after failing to secure funding.
Site Manager Paulus Nghimtina said operations came to a halt during the COVID-19 pandemic when lockdown restrictions prevented people from travelling and disrupted efforts to secure investors. Nghimtina said the company kept employees on its payroll for five years in the hope of securing funding but was eventually forced to release them.
Only a few security personnel remain at the site.
Kunene Governor Vipuakuje Muharukua called on investors and policymakers to help revive the mine, promote Namibian participation, and ensure that mineral resources are processed locally.
He also proposed innovative financing mechanisms, including crowdfunding.
Mathew Nyaungwa, Editor-in-Chief, Rough & Polished
