The government of the Republic of Namibia (GRN) has increased its stake in De Beers Marine Namibia (DBMN) from 15% to 50%, by signing an agreement with the De Beers Group.

A new 0/50 joint venture holding company will be established for Namdeb and DBMN.

Namdeb Diamond is owned in equal shares by the GRN and De Beers Centenary.

The new JV will hold licences of all land and sea operations, which are currently held by Namdeb, and will own the diamonds mined from those areas.

Namibia Diamond Trading (NDTC), a 50/50 joint venture between the GRN and De Beers, will sort, value and market the diamonds produced by Namdeb and DBMN.