Royalty remission enables Namdeb’s future
N$1,2 billion traded for 20 more years of Mining for Good, more jobs and big capital investments.
A key enabler which has paved the way for Namdeb’s long term plan was the approval of the application for theremission of royalties by the Minister of Mines and Energy. The remission allowed for Namdeb to invest in its long term plan, allowing for the extension of the mining operations from 2022 to 2042; a 20 year extension, according to Maria Namupala, Namdeb Financial Reporting Manager. Namdeb Diamond Corporation mines rough diamonds in Oranjemund on behalf of Namdeb Holdings; which holds a mining license for rough and uncut minerals of the precious stone group as governed by the Minerals (Prospecting and Mining) Act 33 of 1992. This revenue is based on the carats that are mined on Holdings behalf by Namdeb Diamond Corporation.
