Diamonds

De Beers and the Government of the Republic of Namibia have signed an agreement for sorting, valuing and selling Namdeb’s diamonds.

As a result of the ten-year sales agreement, Namibia will see an increase in rough diamonds that are made available for beneficiation, and customers of Namibia Diamond Trading (NDTC) will receive $430m of rough diamonds every year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

NDTC and Namdeb are equally owned by De Beers and the Government of the Republic of Namibia.

The agreement will see the sale of all special stones of Namdeb in Namibia and also provides for 15% of the company’s run-of-mine production per annum to be made available to government-owned company Namib Desert Diamonds.

"This sales agreement ensures that Namibia’s diamonds will continue to play a key role in national socio-economic development long into the future."

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

See Also:

"De Beers and Namibia have a longstanding and successful partnership and I am pleased we will continue working together for the benefit of Namibia and the diamond industry."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

De Beers Group CEO Philippe Mellier said: "This sales agreement, the longest ever between Namibia and De Beers, not only secures long-term supply for De Beers, but also ensures that Namibia’s diamonds will continue to play a key role in national socio-economic development long into the future.

"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 in national development."

Image: Under the agreement, Namibia will see an increase in rough diamonds that are made available for beneficiation. Photo: courtesy of De Beers UK Limited.