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Oppenheimer says Namibian diamond talks are progressing well
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De Beers' chairman, Nicky Oppenheimer said that negotiations for a new sales agreement with the Namibian government are progressing very well. Oppenheimer, together with managing director Gareth Penny, was in Windhoek to meet Namibian leader, President Hifikepunye Pohamba. The agreement expired last year and talks have been going on since November last year. Oppenheimer expressed confidence that the new agreement will be to the benefit of both parties involved in Namdeb.
Namdeb is a joint venture between the Namibian government and De Beers. "I believe in evolution, we need to sit together, talk together, and need to understand each other's point of view. I think whatever happens in the end will be in the interest of both parties," Oppenheimer said on NBC.
He said the talks are still on going but was hopeful that the agreement will be signed soon. Namdeb sells its diamonds to the Diamond Trading Company but the government wants some of the diamonds to be made available to diamond polishing companies too.
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