Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

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The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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16 august 2021

Namdeb seeks temporary waiver from royalty payments to recoup

13 july 2009

De Beers, which has a 50 percent stake in Namibia’s leading diamond mining company, Namdeb is said to have requested the southern African government, which is also an equal shareholder to grant the gems miner a short-term exemption or waiver from royalty.

De Beers’ country (Namibia) manager, Daniel Kali was quoted as saying by The Namibian that the move would help Namdeb recoup following the global economic downturn that ravaged the diamond industry.
“Namdeb needs to be given a grace period in terms of royalties and tax, but particularly with regards to royalties,” he said.

Namdeb managing director, Inge Zaamwani-Kamwi who confirmed that an appeal had been made to the government was also quoted as saying that the diamond giant had not yet received a word on the outcome of their appeal.
Namdeb currently pays 10 per cent of its revenue to the Namibian government in royalties, and a 55 per cent corporate tax, as well as dividends as part of the government’s 50 per cent stake in Namdeb.
Production is set to begin mid-July after Namdeb had gone on a three-month production holiday but demand for diamonds remains low despite a slight recovery registered recently.

Veronica Novoselova, Rough&Polished African Bureau editor in Namibia