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Here’s to another 10 years: Nambia and De Beers sign Diamond sales agreement

The Government of the Republic of Nambia has announced a new 10-year sales agreement with The De Beers Group. The agreement will see the sorting, valui...

Dale Benton
|May 17|magazine3 min read

The Government of the Republic of Nambia has announced a new 10-year sales agreement with The De Beers Group.

The agreement will see the sorting, valuing and sales of Namdeb Holdings diamonds in the hands of The De Beers Group. Namdeb Holdings is a 50:50 joint venture between the Government and De Beers.

Established in 1994, Namdeb Holdings has contributed hugely to the Nambian economy and is the country’s biggest foreign exchange generator, contributing one in every five Nambian dollars of foreign earnings.

“This new agreement cements Nambia’s position as an important international diamond player and will provide further stimulus to advance our downstream industry,” said Obeth Kandjoze, Nambia’s Minister of Mines and Energy.

Philippe Mellier, CEO, De Beers Group, believes the new agreement – the longest ever between Nambia and De Beers – will play a key role in the future of Nabia’s national socio-economic development.

“Diamonds can have a powerful and transformative effect on a country’s prospects when effectively managed and I commend our partners in Government for their vision regarding the role of diamonds.” He said.

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