De Beers |Namibia Reviews Terms

Namibia Reviews Terms of Venture With De Beers

 

AFP: Namibia wants to review the terms of its diamond-mining joint venture with the international giant

De Beers

to ensure more stones are cut and polished locally, a cabinet minister said Monday.

Renowned for having the world’s highest quality marine diamonds extracted from the floor of the Atlantic Ocean, Namibia is looking at capturing more of the processes that add value to the diamonds before exporting them.

“We are a little bit wiser than we were then 10 to 20 years ago,” Information Minister Tjekero Tweya told a news conference.

From the joint-venture it owns equally with De Beers, Namibia has been keeping only 10 percent of the stones for local processing, but now it wants that share increased to 30 percent.

A senior government source said the new terms had already been agreed to in principle. But Daniel Kali, the De Beers representative in Namibia, declined to comment. Diamonds are a key foreign exchange earner bringing in 30 percent of Namibia’s export earnings.
(c) 2015 Agence France-Presse

DE BEERS NAMIBIA

NAMDEB HOLDINGS

Debmarine Namibia
PO Box 1906, Windhoek, 9000

Tel:  +264 (0) 61 297  8000
Fax:  +264 (0) 61 297  8100

De Beers
Namibia wants to review the terms of its diamond-mining joint venture with the international giant De Beers to ensure more stones are cut and polished locally, a cabinet minister said Monday

NAMIBIA

DE BEERS NAMIBIA HOLDINGS

PO Box 23132, 10 Dr Frans Indongo Building

Windhoek, Namibia

The world’s leading diamond company, with unrivalled expertise in the exploration, mining and marketing of rough diamonds driving it forward since 1888

De Beers mine diamonds from the seabed at depths of 90 to 140 metres in the Atlantic Ocean off the coast of Namibia. The Orange River that carried diamonds from the centre of South Africa millions of years ago also deposited its precious cargo across the ocean floor.

Debmarine Namibia’s fleet of five specialised marine mining vessels screen material recovered from the ocean floor. These deposits are then airlifted by helicopter for further processing on shore. We use two methods for our marine operations – horizontal marine mining and vertical marine mining.

Horizontal marine mining involves a seabed crawler that uses flexible hoses along the ocean floor to bring diamond-bearing gravels to the surface.

Vertical marine mining employs a large diameter drill for the same purpose
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