Namdeb's profitability plummets
Namdeb Holdings’ underlying EBITDA for its 2019 financial year came in at US$121 million, compared to US$176 million in its previous book-year.
Results released by De Beers this morning show Namdeb had to weather a drop in production and a lower realised price.
De Beers – who owns 50% of the local mining giant – warned against the impact of the coronavirus on diamond demand in 2020.
The Namibian government owns the other half of Namdeb Holdings.
Read the full report tomorrow in Market Watch.
Results released by De Beers this morning show Namdeb had to weather a drop in production and a lower realised price.
De Beers – who owns 50% of the local mining giant – warned against the impact of the coronavirus on diamond demand in 2020.
The Namibian government owns the other half of Namdeb Holdings.
Read the full report tomorrow in Market Watch.
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