Lewcor acquires Elizabeth Bay mine

Namdeb has announced the sale of its Elizabeth Bay mine to the Lewcor Group, a local company, for N$120 million.
Announcing the sale of the mine to Lewcor, Namdeb board chairperson Chris Nghaamwa said it had sought to create the best circumstances for the re-opening of the Elizabeth Bay mine which had gone into care and maintenance in September 2018.
“Throughout this process, our objective has been to create the best possible circumstances for re-opening the operations, re-creating jobs and growing empowered participation in Namibia’s diamond industry,” said Nghaamwa of the sale of the Elizabeth Bay mine to Lewcor.
In the longer term, this value could increase significantly, as Namdeb will share in the revenue earned in the sale of diamonds recovered from certain marine mining areas associated with the Elizabeth Bay Mine, and which Lewcor has indicated it will bring into production in the near term. In addition the transaction creates employment opportunities for those affected by the closure of the Elizabeth Bay Mine, and for the larger community and economy of Lüderitz and Namibia, Namdeb said.
OGONE TLHAGE