IPC demands answers on proposed De Beers sale

Independent Patriots for Change shadow minister of international relations Rodney Cloete Rodney Cloete is demanding that the government explain Namibia’s position on the proposed sale of De Beers and its potential impact on the country’s diamond industry.

In a statement on Monday, Cloete says Botswana’s parliament was informed that Anglo American had selected the Global Diamond Consortium, led by former De Beers chief executive Gareth Penny, as its preferred bidder for its 85% stake, while Namibia’s parliament had received no similar briefing.

He says the sale matters to Namibia because De Beers owns 50% of Namdeb Holdings, which operates Namdeb and Debmarine Namibia.

“Namibia owns half of the business De Beers runs here, and our parliament deserves the same respect,” Cloete says.

He also questions whether Namibia had been approached about joining the consortium, what terms were proposed and whether the government was considering acquiring a stake.

Cloete demands clarity on Namibia’s diamond sales agreement with De Beers, which expired in May, including whether it was renewed and whether Namibia secured a larger share of production.

He urges the ministries of Industries, Mines and Energy; International Relations and Trade; and Finance to brief parliament before the sale is concluded.

Mines minister Modestus Amutse in July dismissed reports that Namibia has lost its bid to acquire a stake in global diamond producer De Beers, saying information circulating on the matter is “misleading and incorrect”.

The post IPC demands answers on proposed De Beers sale appeared first on The Namibian.