Alpha Petroleum, a Nigerian-based company, has secured a landmark USD$200 million (about N$3.4 billion) diamond mining contract in Namibia.
The contract, awarded by NAMDEB—a joint venture between the Namibian government and De Beers Group—marks Alpha Petroleum’s first major contract in the country. Operations are set to begin on October 1, 2024, with mining focused on Namibia’s offshore diamondiferous gravels.
The project involves the use of a state-of-the-art shallow water mining vessel to extract, process, and recover diamonds from specified areas of NAMDEB’s sea mining licence. Alpha Petroleum aims to deliver between 30,000 to 60,000 carats of diamonds annually, reinforcing Namibia’s status as a significant player in the global diamond industry. The recovered diamonds will be processed at the Contractors Treatment Facility in Luderitz, Namibia.
This venture is expected to have a substantial economic impact, particularly in the Halifax Island and Kerbehuk mining zones. Dr. Babajide Agunbiade, Founder and CEO of Alpha Energy Resources, expressed pride in winning the competitive bid and highlighted the project’s significance for both the company and Namibia. The contract further cements Alpha Petroleum’s reputation in marine mining and demonstrates Nigeria’s growing presence in the global mining sector.
Source: African Mining Market