Here’s to another 10 years: Nambia and De Beers sign Diamond sales agreement
The agreement will see the sorting, valui...
The Government of the Republic of Nambia has announced a new 10-year sales agreement with The De Beers Group.
The agreement will see the sorting, valuing and sales of Namdeb Holdings diamonds in the hands of The De Beers Group. Namdeb Holdings is a 50:50 joint venture between the Government and De Beers.
Established in 1994, Namdeb Holdings has contributed hugely to the Nambian economy and is the country’s biggest foreign exchange generator, contributing one in every five Nambian dollars of foreign earnings.
“This new agreement cements Nambia’s position as an important international diamond player and will provide further stimulus to advance our downstream industry,” said Obeth Kandjoze, Nambia’s Minister of Mines and Energy.
Philippe Mellier, CEO, De Beers Group, believes the new agreement – the longest ever between Nambia and De Beers – will play a key role in the future of Nabia’s national socio-economic development.
“Diamonds can have a powerful and transformative effect on a country’s prospects when effectively managed and I commend our partners in Government for their vision regarding the role of diamonds.” He said.
Read the May 2016 issue of Mining Global magazine
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.