The Sea Diamonds Project has been developed to explore and to mine offshore diamond deposits near the coastal town of Lüderitz, Namibia that are contained in the mining concessions held by DFI's wholly-owned subsidiary Diamond Fields Namibia (Proprietary) Limited ("DFNPL"), through Mining License ML111.

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completing a financing.
DFI participates in the DFI/Trans Hex Joint Venture through DFNPL. Trans Hex participates in the DFI/Trans Hex Joint Venture through its wholly-owned subsidiary Trans Hex Marine (Namibia) (Proprietary) Limited ("THMPL"). The purpose of the DFI/Trans Hex Joint Venture is to mine diamonds from the Joint Venture Area using airlift-type offshore diamond mining technology. The Joint Venture Area covers two square kilometres, which is approximately 0.5% of the total licensed area covered by ML111.
Windhoek, the capital of Namibia, is well
established as a regional business and financial center within the context of
the Southern African Development Community (SADC). Mining, in which diamond mining
is most significant, has and continues to form the economic back-bone of Namibia.
Annual production of gem quality diamonds averages 1.3 million carats, earning
US$450 million in revenue, and is increasingly being derived from the rich deposits
in the sea. The mining industry operates under modern, transparent and well administered
legislation, which guarantees security of tenure, protection from expropriation
and repatriation of profits.