Dutch private equity investor Kenzoll Capital has partnered with MSF Commercials to restart operations at the Sperrgebiet Diamond Mine, formerly known as the Elizabeth Bay mine, near Lüderitz.
Kenzoll has committed more than US$10 million (about N$170 million) to Namibia previously, with the latest partnership expected to bring the mine back into production after being largely inactive for the past eight years.
The mine’s licences cover 245 364 hectares of the Sperrgebiet and hold estimated onshore diamond resources of 6.3 million carats and offshore resources of 4.2 million carats.
The partnership will initially focus on restarting diamond operations, while also exploring opportunities to extract heavy mineral sands and critical metals from the mining licences.
Following regulatory approvals, the total investment is expected to reach US$50 million (about N$850 million) as exploration and production of other minerals expand.
“This partnership is part of our long-term commitment and investment in Namibia, with diamonds as the starting point and critical minerals to follow,” says Kenzoll Capital chief executive Corné Melissen.
