{"id":251546,"date":"2019-03-01T11:15:55","date_gmt":"2019-03-01T09:15:55","guid":{"rendered":"https:\/\/informante.web.na\/?p=251546"},"modified":"2019-03-01T11:15:55","modified_gmt":"2019-03-01T09:15:55","slug":"debmarine-increases-profits-and-production","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=251546","title":{"rendered":"Debmarine increases profits and production"},"content":{"rendered":"
\"Debmarine<\/a>
Profit: Debmarine CEO, Otto Shikongo. _Photo: Contributed<\/figcaption><\/figure>\n

Business Reporter<\/p>\n

NAMIBIA\u2019S premier Offshore Diamond mining company, Debmarine Namibia, has delivered stellar results for the year 2018, albeit the recession, with its revenue increasing by 11% to N$8.9 billion.<\/p>\n

The increase was driven by increased production, improved consumer demand, prices and the weakening of the Namibia dollar against the US dollar.<\/p>\n

Speaking at a media engagement last week, Debmarine CEO, Otto Shikongo, stated that Debmarine Namibia\u2019s 2018 production of 1.44 million carats constitutes 72 % of the total Namdeb Holdings production of 2 million carats.<\/p>\n

The 4% increase from 1.38 million in 2017 was driven by fewer import maintenance days for the Mafuta crawler vessel and the use of a technology-led approach for optimising the performance of the drill fleet.<\/p>\n

In addition, the company stated that EBITDA (Earnings before interest, tax, depreciation and amortisation) increased by 6% to N$4.6bn. The EBITDA increase is slightly lower due to cost pressures led by fuel prices and increased maintenance, but still maintaining a healthy 52% EBITDA margin.<\/p>\n

\u201cWe are entering a period of significant capital investment, which is evidenced by the increase in capital expenditure and lower dividend payments,\u201d Shikongo stated.<\/p>\n

Effective 1 Oct 2011, Debmarine Namibia became a 50\/50 joint venture between the Government of the Republic of Namibia and De Beers Group.<\/p>\n

The CFO of the company further noted that the company\u2019s safety record took a knock in 2018 when it recorded the highest number of lost time injuries. The company\u2019s Atlantic 1 mining license is valid until 2035 and is located in the South West of Namibia, covering approximately 6 000km\u00b2.<\/p>\n

The company further outlined that considering the size of the ecosystem, mining impacts a very small area (1.2%) of the ecosystem and is deemed to be of low significance at a regional scale.<\/p>\n

Apart from DBM South Africa, the company \u2018Namibianised\u2019 its top 5 strategic contracts – Helicopter operations, Fixed wing operations, Fuel supply, L\u00fcderitz support, Catering & Tug support. The L\u00fcderitz Logistics and supply base was established in 2015 in order to service the fleet of vessels and support local business. A total N$137m was invested in L\u00fcderitz during 2018 through procurement of goods & services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Business Reporter NAMIBIA\u2019S premier Offshore Diamond mining company, Debmarine Namibia, has delivered stellar results for the year 2018, albeit the recession, with its revenue increasing by 11% to N$8.9 billion. The increase was driven by increased production, improved consumer demand, prices and the weakening of the Namibia dollar against the US dollar. Speaking at a …<\/p>\n","protected":false},"author":10,"featured_media":251588,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-251546","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nDebmarine increases profits and production - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"NAMIBIA\u2019S premier Offshore Diamond mining company, Debmarine Namibia, has delivered stellar results for the year 2018, albeit the recession, with its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=251546\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debmarine increases profits and production - 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