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Article: Mining: De Beers softens deals.(BUSINESS BRIEFS)(Brief Article)
- Article from:
- African Business
- Article date:
- June 1, 2005
CopyrightCOPYRIGHT 2005 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In a rare turnaround, De Beers has made major concessions to the Angola and Namibia governments for exploration and mining rights in the diamond-wealthy countries. In Angola the most significant concession is that Endiama, the state-owned diamond company, will have the majority interest in diamond mines developed by De Beers, while in Namibia De Beers' profit share will reportedly be reduced by 20%. De Beers traditionally takes ...
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