Namdeb Releases 2009 Financial Results

Diamond mining company Namdeb has reported a loss before taxes of $74 million (NAD 555 million) for 2009.  This was due to the global recession where sales revenue fell 40 percent.

Namdeb Managing Director, Inge Zaamwani-Kamwi is quoted saying:

“Diamond sales revenue at N$ 3, 37 billion is 40% lower than in 2008 as a result of the lower carats sold along with a decline in the rough diamond prices, partially off-set by the increase in stone size recovered.”

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