Debmarine to ask US for tariff exemption  Justicia Shipena Debmarine Namibia plans to request a blanket exemption from the US government on rough and polished diamonds. CEO Willy Mertens said the US does not produce diamonds and should not impose punitive tariffs on the industry. “We are going to try and seek a blanket exemption from the US government on both rough and polished diamonds,” he said. He was speaking on Wednesday at the 2025 Mining Expo and Conference in Windhoek. The event, which runs until today, features 198 exhibitors and 335 booths,the largest in its 12-year history. The conference is held under the theme, “Mining for Namibia’s Future: Job Creation, Local Empowerment, and Economic Transformation.”  Mertens said the 15% tariff on polished diamonds entering the US is making Namibian diamonds more expensive globally.  He noted that diamonds exported as rough and processed in other countries face even higher charges. “For a Namibian diamond processed and cut and polished in Namibia, that’s going to be 15% more expensive. For a Namibian diamond that goes out as rough into India, it’s going to be 25% more expensive,” he said. He described the tariffs as a source of instability. “The uncertainty surrounding tariffs is creating instability. Now you don’t know, am I going to pay 15% extra? Or I’m going to pay 30% extra, or is it going to be 20%?” Mertens explained. This follows an executive order by former US President Donald Trump titled “Further Modifying the Reciprocal Tariff Rates.”  The order reduced tariffs on goods from several African countries, including Namibia, from 21% to 15%. In June, deputy minister of industrialisation and trade Gaudentia Kröhne warned that the tariff reduction could hurt trade momentum and threaten economic opportunities under the African Growth and Opportunity Act (AGOA). By mid-2023, Debmarine’s contributions to the state dropped from nearly N$6 billion to just over N$2 billion.  The decline was linked to falling global diamond prices and competition from lab-grown diamonds. In April, Simonis Storm economists said the tariffs were part of a broader protectionist trend that could trigger inflation in Namibia.  They warned that tariffs on key exports such as diamonds, uranium, and fish could harm competitiveness in the US market, reduce export volumes, and lower foreign exchange earnings. However, with the current  tariff set at 15%, some economists believe the impact on Namibia’s export sector may be limited.

#Debmarine #Diamonds #TariffExemption #MiningExpo #EconomicTransformation

NFA-Debmarine Spat Escalates [Namibian] The Namibia Football Association (NFA) has accused the CEO of Debmarine Namibia, Willy Mertens, of tarnishing their image and defamation of character following their public spat that burst into the open this week.

#Namibia #NFA #Debmarine #Football #SportsNews

NFA-Debmarine Marriage On the Rocks [Namibian] Debmarine Namibia chief executive Willy Mertens slammed the Namibia Football Association (NFA) on Saturday, saying they do not feel respected or valued by its leadership.

#Namibia #NFA #Debmarine #Football #Leadership

​​Debmarine opens exhibition at Lüderitz Maritime Museum Hertta-Maria Amutenja  Debmarine Namibia has opened its first permanent exhibition at the Lüderitz Maritime Museum.  The exhibition marks the company’s entry into public educational spaces focused on Namibia’s marine diamond industry. The launch follows the official opening of the museum by former president Nangolo Mbumba in September 2024.  The museum is housed in the old Lüderitz Power Station and forms part of the second phase of the Lüderitz Waterfront Development Company (LWDC) initiative. Speaking at the event, Debmarine Namibia Chief Executive Officer Willy Mertens said the exhibition aims to support education and promote awareness of the country’s marine resources.  He said the goal is to give young people a chance to learn about the diamond recovery process. “This space is not just about showcasing our achievements. It is about inspiring the next generation, especially the youth, to understand the value of sustainability, responsible sourcing and the importance of defending our natural heritage,” said Mertens. He said Debmarine’s operations show how innovation and sustainability are central to modern resource extraction.  The exhibition is designed to inform and educate Namibians, especially school learners. “We believe that the future of the maritime industry depends on the bright young minds in this room and beyond,” he said. The exhibition displays information about Debmarine’s offshore diamond recovery methods and its efforts to work in an environmentally responsible way.  Mertens also spoke about the global challenges facing the natural diamond industry, including trade restrictions and the rise of synthetic diamonds. “Our mission is to educate and advocate for the authenticity and enduring worth of natural diamonds, emphasising their importance not just as gemstones but as symbols of history, craftsmanship and natural wonder,” he said. LWDC Chief Executive Officer Fluksman Samuehl said the exhibition fits into the museum’s goal of promoting marine awareness and education. “This exhibition is meant to attract visitors and tourists and to provide education to the Namibian youth. There are people across all corners of Namibia who have never seen or been to an ocean. It is also meant to raise awareness, particularly among the young people,” said Samuehl. He said the museum was created to preserve the country’s maritime heritage and make it accessible to all Namibians. The Lüderitz Maritime Museum cost N$450 million to build.  It spans three floors and includes historical artefacts, ship models, fossils, maps, and a library with publications on navigation and seafaring. It is one of the largest maritime museums in Africa. The late Dr Abraham Iyambo first proposed the idea for the museum in 2004. Cabinet endorsed the plan in 2009. According to earlier statements from the Office of the President, the museum is meant to serve as a centre for education, culture and marine research. Debmarine’s exhibition is open to the public and will remain a permanent feature of the museum.

#Debmarine #LuderitzMaritimeMuseum #Namibia #MarineDiamondIndustry #Education

Debmarine faces turbulent times CHAMWE KAIRA  Debmarine Namibia, the country’s largest taxpayer, faced a difficult year in 2024 due to falling international diamond prices and weak economic conditions in major markets such as the US, China, and India. The market instability forced the company to reduce its diamond production and shorten its market forecast window from two years to just two months. Debmarine presented the global outlook and its impact on natural diamond demand to stakeholders in Windhoek recently. Chief executive officer Willy Mertens said the global growth outlook remains stable but noted that US tariffs continue to create uncertainty.  He said there was a slight improvement in growth forecasts following Donald Trump’s election win. “There is uncertainty relating to US trade tariffs weighing on the economic outlook,” said Mertens. According to him, the US economy is performing well, but tariffs are a risk to 2025 growth. Mertens disclosed that US growth was stable and the holiday season was reasonable and that there was record Valentine’s Day jewellery spending expected. Mertens noted that there is steady real income growth and a resilient labour market with a low risk of recession. But he noted that tariffs pose a risk to 2025 growth. He went on to say that the outlook for China remains weak for the near and medium term and added that there is a high downside risk stemming from US tariffs. Mertens added that consumer confidence remains low, despite stimulus, and said no near- or medium-term consumer demand recovery is expected. He disclosed that the Indian economy is expected to see growth pick up in 2025. The Indian economy saw a slowdown in the second half of 2024, but growth is expected to pick up in 2025. When it comes to China, Mertens says destocking resulted in growing inventories and low demand. He said lower rough supply has supported midstream to reduce inventory levels in absolute terms. “Despite a positive holiday season, retailers are reportedly delaying restocking, slowing the normalisation of midstream inventory levels,” Mertens said. Regarding the impact of Russia (Alrosa) and Sodiam (Angola), Mertens said Alrosa saw a 10% price reduction in December 2024. Sodiam saw price reductions of 30% to 55%. Debmarine Namibia remains the single largest contributor to government revenue (excluding SACU receipts). Debmarine has contributed N$15 billion to Namibia from the period 2020 to 2024. The impact of challenging market conditions on earnings before interest, tax, depreciation, and amortisation (EBITDA) over the past two years has cost Debmarine N$7.1 billion. In 2022, the company paid N$5.9 billion in taxes and royalties, while in 2023, N$6.2 billion was paid, and in 2024, N$1.5 billion was paid.

#Debmarine #Namibia #DiamondMarket #EconomicImpact #TradeTariffs