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Namaqualand Data

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Nearby Location News

  • Teck Announces Acquisition of Securities of Jet Gold 2016-08-31

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 30, 2016) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it acquired 8,333,333 common shares, and a $389,117 principal amount convertible debenture of Jet Gold Corp. ("Jet Gold"). Jet Gold issued the securities in satisfaction of $889,117 of indebtedness owing to a Teck subsidiary. Jet Gold had assumed the indebtedness in connection with its indirect acquisition of control over a 30% interest in Haib Minerals (PTY) Ltd., in which Teck indirectly holds a 70% interest. The common shares were issued for an aggregate price of $500,000, and the convertible debenture was issued for a price of $389,117. No cash consideration was paid by Teck and the purchase price was fully satisfied by set-off against the assumed indebtedness.

  • Xtract gets major discount on O’Kiep acquisition 2015-05-20
    Aim-listed Xtract Resources has successfully renegotiated the deed of assignment for the acquisition of the O'Kiep copper sulphide tailings project, in the Northern Cape, which would result in a reduced cash payment of $2.88-million, a 28% reduction from the initial $4-million payment. Xtract would pay resource- and technology-based growth company Mineral Technologies International an immediate $250 000 in cash and a further $125 000 cash payment by May 26, as part of the acquisition.
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    Market News alert Xtract Resources plc

Namaqualand Information

  • General 2015-05-10
    The diamond deposit in Namaqualand is concentrated in alluvial or “placer” deposits comprising old gravel beaches and river channels. The diamonds are found up to 100 metres below surface, although mining has to date only ventured some 40 metres down. The nature of the remaining ore reserve at Namaqualand Mines requires a different approach to the mining method traditionally applied if it is to be extracted profitably. For this reason, production at Namaqualand Mines was suspended after the first quarter of 2010 with the objective of developing and introducing an ore extraction and processing methodology suitable to the reserve once operations are resumed. In the meantime, the focus on rehabilitation and restoration of disturbed areas, and on introducing economic development initiatives in other sectors of the economy on such land, has been intensified with the objective of leaving a lasting legacy by contributing to the economic development of the Namaqualand Region. The Namaqualand mines started operating in 1928 and currently consist of: The Koingnaas Complex between Mitchell's and Somnaas bays The Buffels Inland Complex on terraces of the Buffels River inland of Kleinzee The Buffels Marine Complex on the raised beaches north of the mouth of the Buffels River All of the diamonds found here are of gem quality and were extracted by open-cast and surf zone mining. Some 31 million carats had been produced by the turn of the 20th century.

Related News

  • Major diamond mine open for business 2016-09-22
  • De Beers sells $630m of diamonds in seventh sales cycle 2016-09-06
    De Beers has sold $630-million of diamonds in the seventh sales cycle of this year. “We saw healthy demand for our rough diamonds in Cycle 7, as manufacturers brought forward some of their demand in order to cut and polish rough diamonds in time for the important retail selling season,” CEO Bruce Cleaver said on Tuesday.
  • Venetia underground project may deliver first carats ahead of 2022 target 2016-08-26
    The construction of the R29-billion ($2.1-billion) underground development at the Venetia mine by diamond miner De Beers Consolidated Mines (DBCM) is within budget and developing on schedule, with the potential to see underground opera- tions deliver the first ore before the targeted start of production in 2022, De Beers confirms. The Limpopo-based Venetia mine – a large openpit operation and leading producer of diamonds in South Africa – accounts for about 40% of the country’s yearly diamond production. De Beers expects 133-million tons of ore to be treated over the life of the Venetia underground project (VUP), yielding an estimated 94-million carats.
  • Debmarine’s new offshore diamond exploration vessel reaches final construction phase 2016-08-22
    The final phase in the construction of marine diamond mining giant Debmarine Namibia’s new diamond exploration and sampling vessel is now under way after its arrival in Cape Town last week. The critical integration phase is now under way to have the purpose-designed, 113-m-long offshore SS Nujoma delivered and commissioned in Namibia’s Atlantic 1 diamond mining licence area in early 2017.
  • De Beers sells $520m of diamonds in sixth sales cycle 2016-08-02
    The sixth rough diamond sales cycle of 2016 has netted diamond giant De Beers about $520-million. This is lower than the $564-million of sales recorded in the fifth sales cycle of the year.

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