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Namibian diamond company agrees Luderitz marine mining
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Diamond Fields International (DFI), the Namibian diamond miner listed on the Toronto Stock Exchange in Canada, has expanded its joint operations with the Australian-listed marine mining company, Bonaparte Diamond Mines, to include an agreement for the development of marine diamond resources within DFI sea mining concession in the Luderitz Bay area.
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DFI said in a statement that the agreement involves issuing 1,5-million Bonaparte shares to DFI and completing a N$3 million sampling programme within six months in the 1,6 million square meters seabed area which forms part of the DFI concession.
Bonaparte could also earn a 30% shareholding interest in any indicated category of marine diamond resources. The work at sea was anticipated to occur over a one-month period beginning some time in September, using a combination of Bonaparte's patented BoSS seabed sampling tool and DeBeers patented mega drill technology deployed from the chartered DeBeers vessel MV Douglas Bay.
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