Namibia yesterday signed its longest agreement yet with long-term diamond partner, the De Beers Group of Companies, securing a 10-year sales and distribution deal for rough diamonds from Namdeb Holdings.
The contract should effectively improve the supply of rough diamonds made available to customers of the Namibia Diamond Trading Company (NDTC) for in-country beneficiation to about US$430 million (N$6.5 billion) annually, Mines and Energy Minister Obeth Kandjoze said at the official signing ceremony, held yesterday in the Constitution Room of the Office of the Prime Minister.
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