Namibia’s Marine Diamond Wealth and Market Dynamics
Namibia is home to the world’s richest marine diamond deposits, with 75 million carats estimated in 1.0 million square kilometers of seabed. De Beers operates a joint partnership with the Namibian government, contributing significantly to diamond production and resources. A slight decrease in production has been noted in 2024, while strategic changes aim to maximize value in the evolving diamond market.
Namibia possesses the richest marine diamond deposits globally, with approximately 75 million carats of diamonds estimated over about 1.0 million square kilometers of seabed. Marine diamond resources account for approximately 80% of the total diamond production and 94% of the diamond resources within the partnership, as outlined in the Anglo American 2024 Integrated Report. De Beers, owned by Anglo American, operates together with the Namibian government under a 50:50 joint venture.
In summary, Namibia’s significant marine diamond reserves play a crucial role in the global diamond industry. Despite a slight decline in production in 2024, the partnership between Anglo American and the Namibian government continues to yield substantial contributions to diamond resources. As market dynamics shift, particularly regarding natural versus lab-grown diamonds, strategic adjustments may enhance value for both shareholders and the wider market.
Original Source: www.observer24.com.na
