Our main role is to inspire consumers to consider diamonds - Jean-Marc Lieberherr

With over 25 years of experience in a variety of leadership positions across many geographies, functions and businesses, Jean-Marc Lieberherr has more than 10 years’ experience as a diamond industry leader, which includes as a Board member of the World...

09 december 2019

Training in diamond valuation is key for artisanal miners

Ian Rowe, the Executive Director of the Diamond Development Initiative (DDI) was appointed in September 2019, having joined DDI as Deputy Executive Director a year earlier. Ian managed field operations in Sierra Leone within this role and led...

02 december 2019

Kangalassi 2.0: Raising the living standards, creating new jobs

At the V Eastern Economic Forum (EEF) held in early September in Vladivostok, the Yakut company SAYBM signed a tripartite agreement with two agencies - the Far Eastern agency and the regional one - for attracting investments and providing export...

25 november 2019

We live in a new dimension of environmental responsibility carried by business

In mid-October, Moscow hosted the VIII Ecological Forum attended by representatives from the State, large industrial companies, scientific and public organizations. The forum delegates discussed the issues related to finding a balance between the socio-economic...

18 november 2019

De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Namdeb eyes tax breaks to extend land-based operations in Namibia

22 november 2019

namdeb_logo.pngNamdeb, a joint venture between the Namibian government and De Beers is engaging the government over tax breaks to extend its land-based operations beyond 2023, according to media reports.
Namdeb currently pays a 55% corporate tax on its profit and 10% royalty on its sales.
Company chief executive Riaan Burger wants the corporate tax and royalty revised, arguing they are high.
“While that may be conducive or viable for new diamond operators, it might not be conducive to an aging marginal asset like Namdeb,” he was quoted as saying by Reuters to local reporters.
“I think there is an understanding of the importance of Namdeb in the economy and in particular in terms of the jobs that are affected by the current short life of mine.”
Diamond mining generates 20% of Namibia’s export earnings making it the largest taxpayer in the country.
Land-based diamond operations are projected to end in 2023 and will be no longer economical to continue under the current tax regime.
Its output decreased by 7% to 400 000 carats in the third quarter as the Elizabeth Bay land operations were placed on care and maintenance late last year.
The Elizabeth Bay Mine was recently sold to a local consortium.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished