Namibia earned about N$6 billion ($737 million) from diamond sales last year, a report has suggested.
The Namibian newspapers quoted Capricorn Investment Holdings (CIH) as saying in its latest Mineral Update Report that the southern African country had sold about 1,24 million carats, which were 250 000 carats less than the gems sold in 2010.
CIH also noted that diamonds continued to be the leading contributor to the state coffers as N$440 million ($54 million) was paid in royalties during the first ten months of 2011.
It said this figure showed that more than N$100 million ($12,2 million) more had been channeled to the state coffers by October when compared with the same period in 2010.
“This bodes well for annual royalties to be taken by Government in the remaining part of the year [2011],” CIH said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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