Namibia’s Debmarine diamond company is making strides in its battle against lab-grown diamonds, according to CEO Willy Mertens. In a recent meeting with President Nangolo Mbumba, Mertens highlighted the progress of their Natural Diamonds brand in competing with less expensive lab-grown alternatives.
“We’re on track to make significant gains by late 2025 and early 2026,” Mertens stated, as reported by VOA.
Debmarine, known for its marine diamond operations, saw an 8% increase in diamond recoveries in 2023 compared to the previous year, amounting to 1.86 million carats. This production comes primarily from diamonds harvested offshore using a fleet of six vessels.
Established as a joint venture between De Beers Group and the Namibian government, Debmarine launched its state-of-the-art diamond recovery vessel, the Benguela Gem, in 2022, costing $420 million.
