Namdeb Diamond Corporation, a 50:50 joint venture between De Beers Group and the government of Namibia, has introduced a new long-term business plan that will extend the current life-of-mine (LoM) of its land-based operations by 20 years to 2042.
According to Mining Weekly’s report, the Namibian government has offered Namdeb “royalty relief from 2021 to 2025, with the royalty rate during this period reducing from 10% to 5%.” The new business plan is expected to add about N$40-billion for Namibia, according to the report. The new plan will also create 600 new jobs.
De Beers CEO Bruce Cleaver commented: “This new business plan […] means that Namdeb’s future is now secure and the company is positioned to continue making a significant contribution to the Namibian economy, the socioeconomic development of the Oranjemund community and the lives of Namdeb employees.”
