Post #78

🇳🇦Namibia Clings On To Diamonds 🌏 Namibia's Central Bank head Johannes !Gawaxablobbiedon Wednesday (October 15) for an extension of a royalty discount granted to the coutry's largest diamond miner Namdeb in 2021. ❓ Namdeb - JV of De Beers and Namibia's Govt - had planned to wrap up its operations in Namibia by 2023, but with the help of the royalty discount (royalty rate was reduced from 10% to 5% until 2025) the government managed to talk De Beers into extension of operations to 2042. 🔨 Now, in 2025, with the diamond prices lower than ever, De Beers' current owner Anglo Amercian is trying to dispose of its share and Windhoek along with Gaborone are trying to keep their pivotal diamond indutries alive one way or another. In the communiqué of the Second Session of Namibia-Botswana Bi-National Comission of October 10, both countries expressed their concerns over declining diamond revenues and plans to develop joint strategies to keep afloat natural diamonds. Devils Below