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Two ministers met with captains from the Indigenous tribe, however, activists say their complaints against the environmental and social impacts of the Orinoco Mining Arc tend to fall on deaf ears.

The new government intends to look into establishing a mining tax and analyzing the possibility of taxing capital gains from the sale of mining rights.

During its operation, the Victor mine yielded roughly 8.1 million carats of diamonds.

The project is located 100 kilometres north-northwest of the Ring of Fire nickel and chromite deposits.

The announcement follows a warning by the US Federal Trade Commission regarding the misuse of the words eco-friendly’ and ‘sustainable.’

The advantage is that the diamond can be 3D printed in very complex shapes, unlike mined or manufactured diamonds.

The industry is still undecided in how to present diamonds to consumers following the wider-scale emergence of man-made stones in recent years.

De Beers’ diamond sales plunged to the lowest since 2017 in the company’s latest offering, underlining a slump in the industry worldwide.

The new vessel is expected to add about 500,000 carat a year of production capacity to Debmarine Namibia, a 50/50 joint venture between De Beers and the African nation's government.