Namibia Maintains Current Diamond Holdings, Says No Cabinet Decision on De Beers Equity
The Namibian government has clarified that no decision has been made regarding the potential acquisition of shares in De Beers.
The Ministry of Mines and Energy confirmed that the matter has not yet been considered by Cabinet.
The Ministry emphasized that the State remains fully invested in its existing 50% stakes in Namdeb and Debmarine Namibia, which continue to underpin the country’s diamond industry.
“Government has not made a decision regarding the acquisition of equity in De Beers. No proposal of this nature has been tabled before Cabinet,” the ministry said.
It added that any future changes in the sector would require careful review, given the strategic importance of diamonds to Namibia’s economy.
“Government must thoroughly consider the implications, risks, and future opportunities before taking any major decision,” the statement read.
The Ministry also highlighted that stakeholder engagements are ongoing to ensure national interests and long-term benefits are prioritised.
“Our approach is guided by the national interest, inclusive growth, and a balanced outcome for both the industry and the Namibian people.
Once formal decisions are made, accurate information will be communicated through the appropriate official channels,” it stated.
This clarification comes in response to reports that Angola has submitted a formal bid for a minority stake in De Beers as part of a proposal to form a Pan-African consortium of diamond-producing countries, including Namibia, Botswana, and South Africa, to acquire and operate the company currently being sold by Anglo American.
