Windhoek, Oct 4-Namdeb Diamond Corporation (Proprietary) Limited (‘Namdeb’) announced that the transaction
for the sale of Elizabeth Bay Mine (‘EBay’) to Sperrgebiet Diamond Mining Proprietary (Proprietary) Limited (SDM), subsidiary of the Lewcor Group (a 100% Namibian owned Consortium), has been
Namdeb announced its intention to sell EBay and its associated marine assets as a going concern in
- 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, SDM was announced as the successful bidder in September 2019.
The closing of the transaction today paves way for SDM to take full ownership of the mine. This is an
important milestone that creates new business and job opportunities in the //Kharas region. Dr.
Martha Uumati, Deputy Chairperson of Namdeb Board stated: “With SDM now taking over the
operations, this 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
Elizabeth Bay Mine is part of the long history of diamond mining in Namibia and was originally
commenced in 1911 after the first diamond was discovered near Kolmanskop (east of Lüderitz) in
- Operations were halted in 1914, at the commencement of WW1. Operations re-commenced in
- In 1923, the licences were granted to Consolidated Diamond Mining (C.D.M.), and operations
continued until 1931 and then stopped as a result of the great depression in 1930. In 1991, under
C.D.M. (and Namdeb from 1994), EBay was again re-opened as a 10 year project but lived way past
[03/10, 16:01] Robyouthfoundation: its initial life span and continued operations until closure in 2009, following the Global Financial Crisis.
Following an additional sampling programme, the mine re-opened in November 2011, and ran until
September 2018, when it was placed under care and maintenance. Over 4 million carats in total was
produced in the period between 1991 and 2018.
Chris Lewis, Managing Director of Sperrgebiet Diamond Mining and Lewcor Group of companies,
during the closing transaction, said: “We look forward to optimize the opportunity afforded by gaining
ownership of the Elizabeth Bay Mine and its associated mining licences 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
Namdeb has a long and well-established association with Lüderitz and the operations at Elizabeth Bay,
and intends to retain a presence in the historic town. Riaan Burger, Namdeb CEO, added: “It is not an
easy decision to part ways with an asset that has made such a great contribution to both Namdeb and
the community of Lüderitz, but it was the best decision both for the business and the local community.
I am confident that SDM will give Elizabeth Bay 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
Sperrgebiet Diamond Mining all the best with their new venture and trust that they will continue to
build on the proud history of mining in the area.”