Mining: De Beers softens deals.(BUSINESS BRIEFS)(Brief Article)

African Business | June 1, 2005 | Copyright

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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