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The deal is Kenzoll’s first venture in Namibia and is based upon a partnership to mine diamonds in Hottentots Bay with LK Mining, a joint venture led by prominent Namibian entrepreneurs and Lazare Kaplan International Inc
Kenzoll Capital, a leading private equity firm has acquired the “Adamastor,” an offshore mining vessel in Cape Town, as a first step toward establishing a new operating company in Namibia.
The deal is Kenzoll’s first venture in Namibia and is based upon a partnership to mine diamonds in Hottentots Bay with LK Mining, a joint venture led by prominent Namibian entrepreneurs and Lazare Kaplan International Inc.
Founded by Corné Melissen, a former partner at Ramphastos Investments, Kenzoll Capital, was founded in 2021 and is based in Amsterdam, specializing in frontier investment opportunities. It currently has active interests and operations in, among others, gold mining in Zimbabwe and oil in Egypt.
Namibia’s coast is known to hold one of the richest deposits of premium-quality gem diamonds globally, and the investment is a testament to the future of the local industry despite current instability in the international diamond sector.
Mining these deposits involves extracting ore from the seabed by the use of either vessel-mounted drills or high-powered suction crawlers, such as the one recently acquired by Kenzoll Capital.
This project represents a strategic decision by Kenzoll Capital to enter the Namibian market, recognizing the country as an emerging African market with a unique combination of political stability, commitment to democracy and the rule of law, and attractiveness as an investment destination. Kenzoll hopes to use the project as an initial step toward further investments across a broad range of Namibian economic sectors.
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Upon completion of the mobilization program in Cape Town, the Adamastor is expected in Namibian waters from October 2024.
