Substantial investment required
Diamonds and uranium production in Namibia is collapsing
Written by Editor • 31 August 2011 • Print version
The diamond production in Namibia was in the second quarter of this year, more than halved and is now only at 208 000 carats, the expert report of Capricorn Investment Holdings. On average, the production from April to late June, only 45% of the emissions of the same quarter of 2010 had amounted. This was the lowest production level since the first quarter of 2009, it said.
In the past two years is the diamond production fell substantially, mainly due to lower demand resulting from the recession of 2008. According Capricorn Namibia will also soon reach the maximum production potential. A problem for diamonds for sale in NamibiaTo prevent this significant investment in technology and infrastructure are necessary, the mining companies had not been assured.
Also, the uranium production in the country located in southern Africa has declined in the second quarter. It fell from 2.35 to 2.09 million pounds compared with the previous quarter. This was due in large part to difficult weather conditions, Capricorn explained, as some mines have been flooded due to heavy rains. Two large uranium producers are active in Namibia, Rio Tinto (WKN 855 018) and Paladin Energy (WKN 890 889).
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