De Beers chairman Nicky Oppenheimer said that De Beers’ talks with Namibia were going “extremely well,” but didn’t know when a new sales agreement would be signed.
De Beers’ last agreement with Namibia expired last year but new negotiations have been drawn out through this year.
“I think whatever happens in the end will be in the interest of both parties,” Oppenheimer said. He has been personally holding talks with Namibian President Hifikepunye Pohamba.
Namdeb produces about 9 million carats per year and aims to lift that to 10 million by 2010. Its government has been trying to increase the amount of rough polished locally.