By: Nghiinomenwa-vali Erastus
Namdeb non-diamond exploration is continuing in the south, with rare earth elements deposits showing promising results.
This was revealed in the Chamber of Mines 2024 Annual Review, released earlier this month.
The Annual Review revealed Namdeb is also considering future steps that include processing development and funding for said development.
The company has indicated that it will add portfolios of two base metals, with greenfields planned this year.
“A ranked portfolio of non-diamond prospects has been established, with Greenfields exploration planned for 2025 for two base metal prospects,” read the report.
According Namdeb’s Southern Coastal Mine (SCM), exploration in 2024 focused on marine surveys, geophysics, drilling, and bulk sampling to support resource development, with work continuing into 2025.
In May 2024, the company reported that an airborne magnetic gradiometer survey was completed, but further marine geophysical data collection will continue as part of a 5-year project. Notably, a beach electromagnetic survey in the Northern U Blocks was also conducted in late 2024, with data interpretation ongoing in the first quarter of 2025.
Moreover, offshore echosounder surveys supported geological model updates and environmental monitoring.
As for the Orange River deposits, modelling and financial evaluations progressed, with additional reverse circulation (RC) drilling and bulk sampling planned.
Namdeb, a 50:50 joint venture between De Beers Group and the government of the Republic of Namibia, got the approval of a new long-term business plan that will extend the current life of mine (LOM) for Namibia’s land-based operations as far as 2042.
Under the previous business plan, the land-based Namdeb operations would have come to their end towards the end of 2022 due to unsustainable economics.
However, a series of engagements between the Namdeb’s management team and the Namibian government has enabled the creation of a new, mutually beneficial business plan that extends the life of mine by up to 20 years.
As part of the plan, the Namibian government has offered Namdeb royalty relief from 2021 to 2025, with the royalty rate during this period reducing from 10% to 5%. erastus@thevillager.com.na
