Alpha Petroleum secures Namibia’s largest diamond mining contract, worth $200 million, commencing on 1st October 2024. The project aims to extract 30,000 to 60,000 carats of diamonds annually, enhancing Namibia’s mining industry while generating significant economic benefits for the region. The contract highlights Alpha’s mining expertise and positive impact on Africa’s mining landscape.
Alpha Petroleum, a Nigerian firm, has procured the largest diamond mining contract in Namibia, set to commence on 1st October 2024. Awarded by NAMDEB—a joint venture of the Namibian government and De Beers Group—the contract, valued at $200 million, permits Alpha to mine specific areas of NAMDEB’s offshore diamond licence. Using a specialised shallow water mining vessel, they aim to extract between 30,000 and 60,000 carats of diamonds annually, enhancing Namibia’s reputation as a leading diamond producer and positively impacting the local economy. Dr Babajide Agunbiade, CEO of Alpha Energy Resources, expressed pride in winning the competitive bid and looks forward to the project’s significant contributions and the positive publicity for the company.
Nigerian-based Alpha Petroleum has secured a landmark $200 million diamond mining contract in Namibia, marking its first major venture in the country. The mining operations will be conducted offshore in areas identified for their diamond-bearing potential. NAMDEB, the awarding body, is a partnership between the Namibian government and De Beers Group, emphasising the significant opportunity this contract presents for both Alpha Petroleum and Namibia’s economy.
The successful acquisition of the diamond mining contract by Alpha Petroleum underscores the company’s commitment to responsible mining and enhances Nigeria’s presence in the global mining sector. With its advanced technology and planned annual diamond output, Alpha Petroleum is poised to significantly contribute to Namibia’s economic landscape and diamond production capabilities.
Original Source: africanminingmarket.com