In May this year, Debmarine Namibia announced that it will build a state of art diamond recovery ship costing US$ 468 million. The vessel is slated to be operational by the year 2022. When in operation the vessel is expected to harvest 500,000 carats per year. Debmarine, which is a joint venture between Anglo-American and the Namibian Government, has demonstrated its faith in the Ocean economy by continuing to invest in marine diamonds.
Namibia established its Exclusive Economic Zone in 1990 in accordance with the United Nations Convention on the Law of the Sea.
What is the Blue Economy? And what could it mean for Namibia, a country with a 1,500 km coastline – much of it pristine desert? The IPPR’s new publication examines these questions and suggests ways in which Namibia can harness the potential of its coastal regions in a sustainable way.