[miningmx.com] – DE BEERS is to sell more of diamonds it mines in Namibia to local cutters and polishers rather than abroad, said Reuters citing an statement from the Anglo American-owned company.
“De Beers will continue to support the domestic cutting and polishing industry in Namibia, and will increase its commitment by making more diamonds available for manufacturing businesses operating in the country,” De Beers said.
The agreement provides further evidence of how African governments are seeking to take a bigger share of the money earned from their natural resources, said Reuters.
As part of a 10-year sales agreement, Namibia will have control over 15% of the gems produced each year by Namdeb Holdings, a joint venture between the government and De Beers, the world’s largest diamond producer by value.
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