Kenzoll Capital enters Namibian diamond industry
Kenzoll Capital, an Amsterdam-based private equity firm, has acquired the offshore mining vessel Adamastor. This acquisition marks a significant expansion into Namibia, with a focus on diamond mining in Hottentot Bay.
This venture, in partnership with LK Mining - a joint venture involving Paragon Investment Holdings through its subsidiary Edgehill Resources, Epia Investments and Lazare Kaplan International Inc. - positions Kenzoll Capital as a key player in Namibia's mining sector.
The Adamastor, equipped with state-of-the-art marine mining technology, will operate at depths of 90 to 150 metres, utilising remotely operated vehicles (ROVs) and hydraulic systems for efficient diamond extraction.
The vessel's on-board processing facilities, dynamic positioning system and self-sufficiency capabilities make it well-suited for deep-sea mining operations.
This investment aligns with Kenzoll Capital's strategy of targeting frontier markets, complementing its existing interests in gold mining in Zimbabwe and oil exploration in Egypt. Despite challenges in the global diamond market, Namibia's stable political environment and its reputation for producing high-quality gem diamonds offer promising opportunities.
The Adamastor is expected to arrive in Namibian waters in October. Lazarus Jacobs of Paragon Investments and Tjeripo Hijarunguru of Epia Investments expressed optimism about the Hottentot Bay concession, highlighting the area's high diamond recovery rates and the potential positive impact on local communities. The expected yield of 0.2 to 0.4 carats per cubic metre underscores the region's rich diamond deposits and favourable marine conditions for preservation.
This venture, in partnership with LK Mining - a joint venture involving Paragon Investment Holdings through its subsidiary Edgehill Resources, Epia Investments and Lazare Kaplan International Inc. - positions Kenzoll Capital as a key player in Namibia's mining sector.
The Adamastor, equipped with state-of-the-art marine mining technology, will operate at depths of 90 to 150 metres, utilising remotely operated vehicles (ROVs) and hydraulic systems for efficient diamond extraction.
The vessel's on-board processing facilities, dynamic positioning system and self-sufficiency capabilities make it well-suited for deep-sea mining operations.
This investment aligns with Kenzoll Capital's strategy of targeting frontier markets, complementing its existing interests in gold mining in Zimbabwe and oil exploration in Egypt. Despite challenges in the global diamond market, Namibia's stable political environment and its reputation for producing high-quality gem diamonds offer promising opportunities.
The Adamastor is expected to arrive in Namibian waters in October. Lazarus Jacobs of Paragon Investments and Tjeripo Hijarunguru of Epia Investments expressed optimism about the Hottentot Bay concession, highlighting the area's high diamond recovery rates and the potential positive impact on local communities. The expected yield of 0.2 to 0.4 carats per cubic metre underscores the region's rich diamond deposits and favourable marine conditions for preservation.
Kommentaar
Republikein
Geen kommentaar is op hierdie artikel gelaat nie