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De Beers yet to sign sales agreement with Namibian Govt
As a result of the delays in finalising the agreement, the NDTC has extended existing Sight- holder contracts until March 30, 2016
By: Diamond World News Service
Dec 15 2015 10:32AM
Reference: 12413  


The Namibian government is yet to finalise its sales agreement with diamond miner company De Beers, despite of the fact that announcement had already been made in this regard. According to The Namibian, the delay is due to certain finer issues that the office of the Attorney General, Sackey Shanghala, has been looking into the final draft of the agreement, awaiting his signature. 

However, both the parties are hopeful of an early solution to the vexed issue as per The Namibian. It quoted Helena Mootseng, manager of public and corporate affairs at the Namibia Diamond Trading Company, saying that the process was ongoing and unfortunately they were unable to specify a timeline for it. There are also rumours that the 10-year sales agreement that was mooted in July has undergone some changes and that is the reason for its delay.

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