Uncertainty in Namdeb diamond sale talks

[miningmx.com] – AN AGREEMENT between De Beers and Namibia’s state-owned diamond company, Namdeb, allowing the southern African country to sell a portion of diamonds was yet to be reached, said Bloomberg News.

“We are still negotiating; we hope an agreement would be reached but we don’t know when,’ Mines Ministry Commissioner for Diamond Affairs Kennedy Hamutenya told Bloomberg News.

Namibia and De Beers, equal shareholders in Namdeb, are working out a sales accord to replace a 2007 agreement that allowed Anglo to sell the stones through Diamond Trading Co., the trading arm of De Beers, until the end of 2013, said Bloomberg News.

Click here to read the full article