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Annual review 2007

years of

diamond production

Namdeb Annual Review 2007

1

years of
Contents
Vision, mission and values 100 years of history How diamonds benefit Namibia Organisational profile Chairman’s statement Financial performance Namdeb's year in review Managing director’s review Economic performance Building a sustainable Oranjemund

diamond production

Our vision
Namdeb – the world’s leading alluvial-diamond mining company. 28 30 36 42 50 52 53 54 55 55

1 2 4 6 8 10 14 16 22 26

Preferential procurement Social performance Environmental performance Associate companies Corporate governance Board of directors Alternate directors G;ossary Statutory information Contact details

Our mission
We produce diamonds profitably, sustainably and responsibly to the benefit of our shareholders and stakeholders, whilst making a lasting contribution to Namibia.

Our values
EXcellence Care Integrity TEamwork Diversity = EXCITED
This Annual Review covers the period 1 January 2007 to 31 December 2007, and includes information on Namdeb’s operations, its subsidiaries and the contributions made to production by contractors. A separate, more detailed report, to stakeholders, that will highlight our contribution to sustainable development, will be presented later in the year. For more information on this or any other documentation on the company, please visit www.namdeb.com or contact External Affairs and Corporate Communications.

EXcellence
The quality of being very good at something

Care
To do something fairly and with great attention

Integrity
The quality of being honest and firm in your moral principles

TEamwork
The ability to work well together

Diversity
Recognising the value of including all

www.namdeb.com

2

Namdeb Annual Review 2007

Namdeb Annual Review 2007

3

years of

history

Sperrgebiet shipwreck is the find of the century for Namibia While the Namibian nation was marking the centenary since the discovery of diamonds, another fascinating discovery unfolded in April in the form of the oldest sub-saharan shipwreck yet in Namdeb’s mining area. The find yielded a wealth of objects including six bronze canons, several tons of copper, over 500 elephant tusks, navigational instruments, weapons and thousands of Spanish and Portuguese gold coins, minted in the late 1400s and early 1500s. For Namibia, it is the archaeological find of the century and a fitting way to celebrate the 100th year of diamond mining in the Sperrgebiet, where the shipwreck was found.

The harvesting of diamonds in Namibia takes shape
In 1920, Sir Ernest Oppenheimer formed Consolidated Diamond Mines of South West Africa (CDM); in 1923, CDM concluded the Halbscheid Agreement with the South West African Administration, which granted CDM the mining rights for the Sperrgebiet. Oranjemund, a unique town that owes its existence to diamond mining, was established in 1936. It adopted its name from its geographical position at the mouth of the Orange River, the national boundary between the Republics of Namibia and South Africa, and services the Mining Area 1 and Orange River mines.

A shiny treasure starts a diamond rush
Diamonds originated deep in the interior of southern Africa. Over millennia, the Orange River carried them to the Atlantic Ocean where they were deposited on ancient beaches, which in time became part of the mainland. Prior to the discovery of diamonds in the Namibian desert, some prospecting had taken place along the coast as early as 1863. David Christiaan, a Hottentot Chief, gave a Cape Town firm (De Pass, Spence and Company) a concession extending from Angra Paquena (Lüderitz) to the Orange River and 32 kilometres inland from the coast. In 1908, railway worker Zacharia Lewala stumbled on a shiny treasure that started a major diamond rush. As a result, diamond mining regulations were introduced in 1911 and the Sperrgebiet or “forbidden territory” was declared.

The...
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