Namibia setting up independent diamond trader

The government is setting up a company to sell part of the diamonds mined by Namdeb Diamond Corporation, the joint-venture it owns equally with De Beers, Mines and Energy Minister Isak Katali said in a telephone interview from the capital, Windhoek, yesterday. The project, emulating an initiative by neighbouring Botswana, depends on a deal with De Beers, he said.

“For the company to operate, there has to be an agreement with De Beers,” said Katali, adding that Namibia won’t initially want to market 50 percent of Namdeb’s production.