The De Beers Group says its current deals with countries, including Namibia, are fair and appropriate.
The Group's outgoing Chief Executive Officer, Bruce Cleaver, paid a courtesy call on President Hage Geingob at State House.

Cleaver also introduced the incoming Chief Executive, Al Cook, to Dr. Geingob and Mines and Energy Minister, Tom Alweendo.

Cook will also be representing De Beers Group on the board of Namdeb Holdings, which is a 50/50 venture with the government.

The visit by De Beers Group executives comes as neighboring Botswana pushes for an increase in its shares to more than 50% in the sales and marketing agreement with the mining giant.

Botswana's government currently buys 10% of the diamonds produced, while the rest are purchased by De Beers Group.

Mines and Energy Minister Tom Alweendo says in the case of Namibia, the government and De Beers are not renegotiating the current provisions of the sales and marketing agreement as it is valid until 2026.

The government purchases 15% of the local diamonds produced, while De Beers purchases the remaining 85%.

The sales and marketing agreement determines how diamonds are bought and marketed by the parties involved, which the De Beers Group says is fair.

Photo Credits
Namibian Presidency


Blanche Goreses