The deal covers sorting, valuing and sales of all of Namdeb Holdings’ diamonds.
Namdeb Holdings is a joint venture between the Namibia government and De Beers, a unit of Anglo American.
Namibia Diamond Trading Company will sort and value all of Namdeb’s production, while De Beers will support the domestic cutting and polishing industry in Namibia.
De Beers will make more diamonds available for manufacturing businesses operating in the country.
The agreement will provide for an independent sales outlet for the Namibian government for 15% of Namdeb’s run of mine production, per year, over the duration of the sales deal.
De Beers executive head of strategy Bruce Cleaver said: "We have a long and proud partnership with Namibia, going back more than two decades.
"This longer, 10-year sales agreement demonstrates De Beers’ continued commitment to ensuring that diamonds from Namibia continue to play a key role in the socio-economic development of the country."
De Beers has mining operations in Botswana, Canada, Namibia and South Africa.
The company employs over 20,000 people across the diamond pipeline and is claimed to be the largest diamond producer globally by value.
Image: Namibia Diamond Trading Company will sort and value all of Namdeb’s production. Photo: courtesy of De Beers.
