De Beers, Namibia Deal Delayed
October 01, 15
(IDEX Online News) – The 10-year sales deal between De Beers and the Namibian government has yet to be implemented, according to reports in the local Namibian press.
The Southern Times says that the delay is thought to be due to De Beers’ decision that the local percentage be increased to 15 percent rather than to the 25-30 percent the local industry desired.
As part of the original agreement, Namibia Diamond Trading Company (NDTC) will continue to sort and value all of Namdeb Holdings’ production.
De Beers said it would continue to support the domestic cutting and polishing industry in the country, and will increase its commitment by making more diamonds available for manufacturing businesses operating in Namibia.