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Namibia seeks to review diamond joint venture terms with De Beers

Namibia wants to review the terms of its diamond mining joint venture with the international giant De Beers to ensure more stones are cut and polished locallyNamibia wants to review the terms of its diamond mining joint venture with the international giant De Beers to ensure more stones are cut and polished locally, a cabinet minister said Monday. Renowned for having the world’s highest quality marine diamonds extracted from the floor of the Atlantic Ocean, Namibia is looking at capturing more of the processes that add value to the diamonds before exporting them. “We are a little bit wiser than we were then 10 to 20 years ago,” Information Minister Tjekero Tweya told a news conference.

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