Chamwe Kaira
Anglo American, through its subsidiary De Beers, revealed in its 2024 tax and economic contribution report that its total tax and economic contribution in Namibia amounted to US$545 million (N$10.2 billion), a decrease from US$611 million (N$11.4 billion) in 2023.
Taxes and royalties borne in Namibia amounted to US$63 million, compared to US$144 million the previous year. Total taxes and royalties borne and collected reached US$136 million, lower than US$234 million in 2023.
De Beers operates in Namibia through a 50:50 partnership with the government. It recovers land-based diamonds through Namdeb and offshore diamonds through Debmarine Namibia. The group employed 1,600 people in 2024.
Wages and related payments for the year were US$89 million, a slight increase from US$85 million in 2023. Community and social investments totalled US$3 million.
Total procurement stood at US$317 million, up from US$287 million in 2023. Of this, US$155 million was local procurement, down from US$162 million the previous year.
Namibia has the richest known marine diamond deposits in the world. Diamond resources are estimated at 75 million carats.
De Beers produced 2.2 million carats of diamonds in Namibia in 2024, a 4% decrease from 2.3 million carats in 2023. This was due to a 13% decline in output from Debmarine Namibia, partly balanced by higher-grade mining and better recoveries at Namdeb.
De Beers’ global rough diamond production fell by 22% to 24.7 million carats, down from 31.9 million carats in 2023. The group said the drop was a planned response to lower demand and high inventory levels in the midstream.
In Botswana, production declined by 27% to 17.9 million carats from 24.7 million in 2023, due to planned reductions at Jwaneng.
South Africa’s production rose by 8% to 2.2 million carats, up from 2.0 million in 2023. This followed progress at the Venetia underground mine and slightly better ore grades.
Production in Canada dropped by 16% to 2.4 million carats from 2.8 million in 2023. The fall was due to planned processing of lower-grade ore.
Anglo American owns 85% of De Beers, while the government of Botswana holds the remaining 15%. De Beers and its partners produce about one-third of the world’s rough diamonds in terms of value.
Anglo American is preparing to separate De Beers from its group, either through a divestment or demerger. The aim is to give both entities more strategic flexibility.
The group defines total tax and economic contribution as the combined value of taxes and royalties, wages, procurement, and community investment in each country.
