A New Diamond-Mining Boat Will Hoover Up Gems Off Namibia’s Coast
The 'crawler' tractor drops into the sea from the deck of the Mafuta diamond mining vessel.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Anglo American Plc will build a new diamond-mining boat to operate off the coast of Namibia, where it finds some of its most expensive stones, in the latest sign the company is willing to spend on growth.
Anglo’s De Beers unit already has a fleet of boats that hoover up the precious stones on the Atlantic Ocean, through a 50:50 partnership with Namibia. The southern African nation’s diamonds, which have been washed down the Orange River from South Africa over millions of years and deposited in the ocean, are key to De Beers because of their high quality.