Namdeb Holdings

Stock performance

History

Diamonds were discovered near Lüderitz in 1908, and De Beers' Consolidated Diamond Mines controlled the industry for most of the 20th century. In 1994, after independence, it was restructured as Namdeb, a 50-50 partnership between the Namibian government and De Beers.

Business model

Namdeb Holdings owns Namdeb, which mines diamonds on land along the coast, and Debmarine Namibia, which recovers diamonds from the seabed using specialized ships, now the main source of output.

Market position

Namibia produces some of the highest-quality gem diamonds in the world, and Debmarine Namibia is the world's leading marine diamond miner.

Country impact

Diamonds are one of Namibia's largest exports and sources of government revenue, so the downturn in the diamond market since 2023 has weighed on the economy and public finances.