Diamond Miner Namibian Resources Widens Loss
Post Date: 01 Dec 2010 Viewed: 481
Losses for Namibian Resources, an alluvial diamond mining company, widened in the six-month period ending August 31, 2010, and totaled £223.7 million, compared to a net loss of £192.6 million in the corresponding period of 2009, Mining Weekly reports.
Namibian Resources rough diamond production stood at 184,500 carats for the period reported and 427,770 carats up to November 6 of the current fiscal year.
Company chairman Allen Sheppard called the increase in rough diamond production between August and November encouraging, and said that the diamond company was trying to raise capital to upgrade its mining operations.
Namibian Resources is listed on the AIM exchange and its subsidiary Sonnberg Diamonds mines for Namdeb.