Debmarine Namibia aims to produce 1.5 million carats of diamonds in 2025—approximately 75% of Namibia’s total output—despite global market headwinds.
The target follows a 2023 peak of 1.8 million carats, boosted by the Benguela Gem’s first full year in operation.
The company, a 50/50 joint venture between the Namibian government and De Beers Group, operates seven vessels in the Atlantic, mining at depths of 90–140 meters within its extensive southwestern license area. Crawler vessels, which contribute roughly 65% of total production, are at the heart of Debmarine’s marine recovery system.
CEO Willy Mertens told the 2025 Mining Expo that future growth will hinge on high-grade resources located near the Orange River, which are buried beneath up to six metres of mud.
Unlocking these deposits will require advanced technology and targeted investment.
Investing in people and skills
Debmarine’s workforce has transformed from 14% Namibian in 2001 to 92% today, with the company investing N$130 million annually in training.
While onshore gender parity is nearly 50/50, offshore operations still face challenges due to the 28-day-on, 28-day-off roster system.
Each vessel carries 60–80 crew members working 12-hour shifts and remains at sea for up to three years between major maintenance stops.
Environmental oversight
Operating in the Benguela Current Large Marine Ecosystem, Debmarine suspends mining for 20 days each October–November to conduct benthic sampling. Studies show seabed recovery takes between three and ten years, with oversight from an independent Marine Scientific Advisory Committee of experts from Namibia, South Africa, the UK, and Australia.
Market dynamics
The US remains the largest consumer of diamond jewellery, accounting for 50–55% of global demand. China’s market share has dropped from 15% to around 7–8%, while India has moved into second place, favouring gold-heavy jewellery.
China has also emerged as a major exporter of polished stones, despite producing no rough diamonds.
A public–private model
Debmarine’s corporate structure links it to Namdeb for land-based mining and NDTC for diamond sorting and valuation.
Its board is evenly split between government and De Beers representatives, supported by an executive committee managing both marine and onshore operations.
With market conditions evolving, Debmarine is focusing on resource expansion, technological innovation, and a skilled local workforce to maintain its position as a cornerstone of Namibia’s diamond industry.
De Beers’ broader fortunes
The parent company of Debmarine, De Beers Group, has faced growing financial headwinds amid slumping diamond demand.
In 2024, rough diamond production dropped 22%, and revenue fell 23% to around US$3.3 billion, while underlying EBITDA swung from a US$72 million profit in 2023 to a US$25 million loss.
In the first half of 2025, the company reported a loss of US$189 million, with sales and production both down significantly.
These challenges prompted Anglo American to take a US$2.9 billion impairment charge on De Beers, reflecting weakened demand, especially in China, and rising competition from lab-grown diamonds.
Despite these headwinds, De Beers is repositioning itself through its “Origins” strategy—streamlining operations, prioritising natural diamond markets, and introducing innovations like the DiamondProof™ device to distinguish natural from synthetic stones.
This broader context underscores the challenges facing Debmarine’s parent company—and highlights the importance of Debmarine’s ongoing investments in technology, local capability, and resource development to stay resilient amidst industry volatility.
