Now we know why EXT appointed her to the board. I think this was...

Now we know why EXT appointed her to the board. I think this was a very strategic move.........

A PARTNERSHIP between Government and a private mining company can be challenging, but also to the benefit of Namibia, Inge Zaamwani-Kamwi, managing director of Namdeb, said yesterday.
?Often the two partners have different primary objectives ? the one?s is purely social, while the other one?s is purely commercial,? Zaamwani-Kamwi said about the joint venture between Government and De Beers. Since 1994, Government and De Beers have held 50 per cent each of the shares in Namibia?s diamond giant.

Zaamwani-Kamwi?s comments came as Mines and Energy Minister Isak Katali?s announcement that Government is pushing to give state-owned Epangelo Mining Company exclusive exploration and mining rights of strategic minerals is causing an uproar among the investor community locally and internationally.

Speaking at the release of Namdeb?s financial results, the MD said such a partnership can be ?quite a complex business to manage?, but that Namdeb has proved to be a ?very good model?.

Negotiations between Government and De Beers Marine, in which the State is looking to up its shareholding from 30 per cent to 50 per cent, have concluded, Daniel Kali, group country director of De Beers, said at the same occasion. He wouldn?t elaborate on the details of the deal, saying that an announcement will be made ?in due course?.

Zaamwani-Kamwi said the synergies of a joint venture between Government and a private mining company can be advantageous, as one has the natural resources and the other the technical know-how.
In Namdeb?s case, the benefits have been ?self-evident?, she said. Namdeb is ?out of the woods? after slumping during the global financial crisis, reaping net profits of N$419 million in 2010 compared to the N$414 million loss it suffered in 2009.

A capital investment of N$5 billion over the next ten years, combined with a high-tech approach to mining, will ensure that Namdeb will be able to continue mining just under one million carats until 2050, Zaamwani-Kamwi said.
Both Government and De Beers will have to come to the party, though, as far as the company?s massive financing needs are concerned, she said.

Both parties have equal representation on board level and both have input in the decisions and strategies taken at the highest level. Government has had ?quite a big peek into the global expectations? of a company like De Beers, while the latter has learnt to appreciate what the State wants in terms of Vision 2030, Zaamwani-Kamwi said.
Commenting about the potential loggerhead resulting from Government?s social drive and De Beers? commercial agenda, she said: ?What is the best for Namdeb, should be the best for the shareholders.?