De Beers Satisfied with New Namibian Sales Agreement
June 25, 15
(IDEX Online News) – According to reports in the Namibian press, De Beers is “satisfied” with the terms of the sales and marketing agreement that it is currently negotiating with the country’s government.
“We are happy; we are all smiling and negotiating together…” De Beers’ group executive Philipe Mellier told journalists after meeting with the Namibian president, Hage Geingob, reported newera.com.
Earlier this week, it was revealed that the new agreement would include a greater percentage of Namibian diamonds remaining in the country for cutting and polishing by local businesses. This figure would rise from the current 10 percent supplied through the Namibia Diamond Trading Company (NDTC) to between 25 and 30 percent.
The NDTC has said that the amount of diamonds that the country receives at the moment is not enough to maintain a sustainable local industry.