Mellier Commits De Beers Future to Namibia

(IDEX Online News) – De Beers Group chairman Philippe Mellier has pledged the company’s continued involvement in Namdeb and Namibia, according to a report in The Namibian.

Mellier said that despite the volatility in the global diamond market in 2015, the outlook was promising with Namibia potentially playing a key role.

The De Beers chairman highlighted the recent N$10 million ($650,000) investment that De Beers Namibia Holdings pledged to support government efforts to educate children, particularly girls, in marginalized communities as evidence of its commitment.

Mellier also referenced the 10-year sales agreement between De Beers and the Namibian government, which has been agreed in principle but has still to be finalized.

“Importantly, it also means that more of the value generated by Namibia's diamonds will remain in the country, with cutting and polishing companies among those that will realise this benefit,” he said.