Natural Diamonds - Sustainability | Debmarine Namibia

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Natural Diamonds

Natural Diamonds
Natural Diamonds

Natural Diamonds are a pivotal contributor to the Namibian economy. A landmark partnership agreement between the Government of the Republic of Namibia (GRN) and De Beers, concluded in 1994, ushered in a new era of unprecedented value creation for Namibia and its people. No other commercial enterprise creates as much value for Namibia and its people as does the GRN / De Beers partnership. Diamonds are sourced ethically with the highest regard for environmental and community well-being.

In 2021 Debmarine Namibia received three awards from the Namibia Revenue Agency (NAMRA), in recognition of being the highest contributor to VAT, Corporate Income tax and Overall Top Revenue Contributor in 2021. In 2021, Debmarine Namibia contributed N$1.6bn to the Namibian fiscus in royalties, income tax and dividends. This contribution is estimated to increase to around N$4.7bn in 2022. The increase is mainly due to the introduction of our new state of the art diamond recovery vessel, MV Benguela Gem.

Diamond royalty is paid at 10% of the value, while diamond mining tax is paid at 55%. This makes the diamond industry rank highest in terms of return of value to the stakeholder/shareholders (the people of Namibia. Roughly 80c of every 1$ earned from Namibian diamonds is paid to the Government by way of royalty, taxes and dividends.

Namibia leading in Marine Diamond Recovery

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