• Contact
Wednesday, February 1, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Economy

New De Beers-Namibia deal shows ‘strong partnership’

TAB by TAB
25/10/2021
in Economy
0
People stand outside the main entrance of the Namibian Diamonds Trading Company on June 21, 2017 in Windhoek, Namibia.

People stand outside the main entrance of the Namibian Diamonds Trading Company on June 21, 2017 in Windhoek, Namibia.

0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

New De Beers-Namibia deal shows ‘strong partnership’

Diamond giant De Beers and the government of Namibia signed a new deal on Wednesday laying out the terms of a business agreement that will last until 2042.

People stand outside the main entrance of the Namibian Diamonds Trading Company on June 21, 2017 in Windhoek, Namibia.
People stand outside the main entrance of the Namibian Diamonds Trading Company on June 21, 2017 in Windhoek, Namibia.

The new 20-year agreement slashes royalties paid by 50:50 joint venture Namdeb to Namibia’s government to 5% from 10% for the next four years.

Related posts

Nigeria extends deadline to swap old currency notes by 10 days

Nigeria extends deadline to swap old currency notes by 10 days

30/01/2023
1
Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

28/01/2023
1

The agreement unveiled on Thursday also gives Namdeb’s crucial mines, which form the backbone of Namibia’s economy, a new lease on life. The deal effectively reversed a 2017 decision to close the company’s land-based mines by extending their operations for another 20 years, global diamond analyst Paul Zimnisky says.

“The news this week shows the health of the partnership between De Beers and Namibia, finding common ground to preserve the projects, in this case the government providing the company with a royalty holiday to help boost the economics of the project which allows for extension of the mine life.”

“But I imagine higher diamond prices as of late has certainly helped with the decision,” he says.

Diamond prices spiked 20% this year, according to the Zimnisky Global Rough Diamond Price Index, as recovering demand rekindles optimism in the industry.

In 2017, Namdeb announced plans to begin incrementally closing its on-shore Namibia operations from 2018 to 2022 as the operations were approaching the end of their economic lives.

These include Elizabeth Bay, Daberas, Senelingsdrift, and Southern Coastal, all of which are alluvial mines.

“Since then, the fundamentals of the diamond market have significantly improved, as have diamond prices, especially over the last year,” Zimnisky says.

“In addition, these alluvial mines tend to produce larger, higher-quality diamonds which have been the strongest segment of the market.”

African Business

Previous Post

Copper price surges past $11,000 on supply squeeze

Next Post

Nigerian billionaire Femi Otedola acquires significant stake in First Bank of Nigeria Holdings

Next Post
Nigerian billionaire Femi Otedola acquires significant stake in First Bank of Nigeria Holdings

Nigerian billionaire Femi Otedola acquires significant stake in First Bank of Nigeria Holdings

RECOMMENDED NEWS

Joe Biden autographed book for late son’s nurse

Joe Biden autographed book for late son’s nurse

1 week ago
1
Europe huddles down for a winter without Russian gas

Europe huddles down for a winter without Russian gas

5 months ago
2
7 Tips To Avoid Wasting Food For Smaller Households

7 Tips To Avoid Wasting Food For Smaller Households

9 months ago
2
Nigeria: Mobility fintech Moove raises $105m in series A2 round

Nigeria: Mobility fintech Moove raises $105m in series A2 round

11 months ago
6

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business – News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man
  • Nigeria launches payments card program to rival Visa and Mastercard
  • Develop enabling legislation to fuel the cannabis sector to new highs and boost the economy

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In