Namdeb Agrees to Extend Talks on Diamond Deal With Anglo

(IDEX Online News) – Namibia has extended negotiations on a new diamond sales agreement with De Beers’ parent company, Anglo American Plc, to June.

Talks will continue until early next year on an agreement to replace one signed in 2007 which was originally due to expire this month, according to a Bloomberg News report.

“The extension is aimed at giving us time to have comprehensive negotiations and to make sure we cover all the angles,” said Kennedy Hamutenya, director of diamond affairs at the Ministry of Mines and Energy.

Namibia and Anglo American are equal shareholders in the Namdeb Diamond Corp mining firm. The 2007 agreement diamonds to be sold via the Diamond Trading Company until the end of this year.

Namibia has completed “internal preparations” and expects talks to start in the first quarter, according to Hamutenya.

“Our negotiating team has had to familiarize itself with various issues concerning diamonds, conducting visits to other countries and looking at best practices,” he added.