Namdeb,Sperrgebiet conclude buying of Elizabeth Bay
The operations create much-needed economic opportunity for the Lüderitz community and larger economy of Namibia.
Namdeb Diamond Corporation announced that the transaction for the sale of Elizabeth Bay Mine (EBay) to Sperrgebiet Diamond Mining (SDM) has been concluded.
The company said that the closing of the transaction paves the way for SDM to take full ownership of the mine and create new business and job opportunities in the ||Kharas Region.
“Namdeb announced its intention to sell EBay and its associated marine assets as a going concern in 2018. The decision by Namdeb to cease operations at EBay was made as the business sought a new owner that could continue to run the operation economically.Following a rigorous and independently advised selection process, Sperrgebiet Diamond Mining was announced as the successful bidder in September 2019,” the statement reads.
Commenting on the closing of the deal, Martha Uumati, deputy chairperson of Namdeb’s board stated that SDM taking over the operations creates much-needed economic opportunity for the Lüderitz community and larger economy of Namibia, especially during this time when employment has been negatively affected by the Covid-19 pandemic.
Opportunities
SDM managing director, Chris Lewis said, “we look forward to optimise the opportunity afforded by gaining ownership of the Elizabeth Bay Mine and its associated mining licenses and will strive to successfully recommission operations in such a way to establish a long-term plan for both onshore and offshore mining.
We strongly believe in the potential of the mine, but also know that we’ll only be able to create value through the efforts and support from our employees, service providers and government stakeholders.”
On his part, Namdeb chief executive officer Riaan Burger said, “I am confident that SDM will give EBay Mine the new investment it requires, as well as the impetus to create long-term value and to deliver an important economic contribution. I wish SDM all the best with their new venture and trust that they will continue to build on the proud history of mining in the area.” – Nampa
The company said that the closing of the transaction paves the way for SDM to take full ownership of the mine and create new business and job opportunities in the ||Kharas Region.
“Namdeb announced its intention to sell EBay and its associated marine assets as a going concern in 2018. The decision by Namdeb to cease operations at EBay was made as the business sought a new owner that could continue to run the operation economically.Following a rigorous and independently advised selection process, Sperrgebiet Diamond Mining was announced as the successful bidder in September 2019,” the statement reads.
Commenting on the closing of the deal, Martha Uumati, deputy chairperson of Namdeb’s board stated that SDM taking over the operations creates much-needed economic opportunity for the Lüderitz community and larger economy of Namibia, especially during this time when employment has been negatively affected by the Covid-19 pandemic.
Opportunities
SDM managing director, Chris Lewis said, “we look forward to optimise the opportunity afforded by gaining ownership of the Elizabeth Bay Mine and its associated mining licenses and will strive to successfully recommission operations in such a way to establish a long-term plan for both onshore and offshore mining.
We strongly believe in the potential of the mine, but also know that we’ll only be able to create value through the efforts and support from our employees, service providers and government stakeholders.”
On his part, Namdeb chief executive officer Riaan Burger said, “I am confident that SDM will give EBay Mine the new investment it requires, as well as the impetus to create long-term value and to deliver an important economic contribution. I wish SDM all the best with their new venture and trust that they will continue to build on the proud history of mining in the area.” – Nampa
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