Namibia’s Economic Growth Driven by Jump in Mining Production

Bloomberg reported that Namibia’s economy grew by 4.6% last year, in part due to a significant growth in the mining industry.

The market news is quoted as saying:

Diamond production leaped 56.6 percent to 1.47 million carats last year and will probably remain at that level in 2011, the central bank said. Namibia’s diamonds are the world’s best quality, averaging about $321 a carat, according to the Windhoek-based Institute for Public Policy Research.

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