Staff Reporter
Namibia’s offshore diamond mining industry has been augmented by the arrival of the Adamastor diamond mining vessel at Lüderitz harbour.
Lazarus Jacobs, a representative of LK Mining, in a statement on Wednesday, said the arrival of the vessel in Namibia, marks a new era for Kenzoll Capital and its local partners in the offshore mining sector.
“Acquired by Amsterdam-based private equity firm Kenzoll Capital, the vessel’s arrival heralds a transformative chapter in Namibia’s offshore mining capabilities, with operations set to begin in Hottentots Bay,” the statement reads.
The Adamastor, equipped with cutting-edge marine mining technology, is designed for offshore diamond extraction at depths of up to 32 meters.
Featuring advanced hydraulic extraction, onboard diamond processing, and x-ray final recovery technology, the vessel stands out for its precision and efficiency in underwater mining.
Built for self-sufficiency, it has already gained recognition as a flagship asset within Namibia’s growing offshore diamond industry.
“This is a landmark moment for Kenzoll Capital and our partners at LK Mininga 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,” Jacobs said.
LK Mining, a consortium spearheaded by Paragon Investment Holdings’ subsidiary Edgehill Resources, along with Epia Investments and Lazare Kaplan International Inc., collaborated with Kenzoll Capital in bringing the Adamastor to Namibia.
The investment aligns with Kenzoll Capital’s focus on frontier markets, adding to a diversified portfolio that includes ventures in Zimbabwean gold mining and Egyptian oil exploration.
Namibia’s stable political landscape and reputation for premium-quality diamonds provide a strong foundation for the Adamastor’s projected success.
Jacobs indicated that early evaluations of Hottentots Bay’s diamond reserves are encouraging, with expected yields estimated at 0.2 to 0.4 carats per cubic meter.
“This promising recovery rate further reinforces the potential impact of the Adamastor’s operations on the local and national economy,” he added.
In addition to economic benefits, Jacobs reiterated the commitment of LK Mining to community engagement and sustainable mining practices, positioning the project to bring positive social impact to Lüderitz and surrounding communities.
The vessel’s presence signifies the collaborative efforts of global investment and local expertise, setting a high standard for Namibia’s offshore mining sector and promising substantial growth for the industry.
