The Government of the Republic of Namibia and The De Beers Group have signed a new 10-year sales agreement, the longest ever signed between the two partners, according to Diamond World.
As a result of the agreement, $430 million of rough diamonds will be offered annually to Namibia Diamond Trading Company (NDTC) customers.Also, all Namdeb Holdings’ Special Stones will be made available for sale in Namibia. The agreement also provides for 15% of Namdeb Holdings’ production per annum to be made available to a Government-owned independent sales company called Namib Desert Diamonds Pty Ltd.
Namdeb Holdings is one of Namibia’s largest taxpayers and the country’s biggest foreign exchange generator, and contributes more than one in every five Namibian dollars of foreign earnings.
