Diamonds fetch higher outside De Beers

CHAMWE KAIRA The government of Namibia will be in a position to negotiate for an improved sales agreement with De Beers using Namib Desert Diamonds Pty Ltd (Namdia) price recovery system that saw Namibian diamonds sold outside the De Beers system getting as much as more than 12% compared to De Beers’ diamond prices. Namdia is a wholly owned government diamond trading company that exclusively sells diamonds outside the De Beers system. The company is entitled to 15 percent of diamonds processed by the Namibian Diamond Trading company consisting of 22.6 percent above 2 carats, 76.2 percent below 2 carats…