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Vol 1 (AAC) No 6

Published 1st April 2008

Chalo Africa

The Indians are making moves in the diamond market, but will it last forever?

Indian Commerce Minister Jairam Ramesh cut a deal with Endiama, Angola's state-owned diamond company, to facilitate the direct sale of stones to India by mid-2009. India is also expected to accept Endiama's offer for its mining companies to explore and develop Angolan diamond mines. Similarly, in neighbouring Namibia, Ramesh's discussions with various leaders including ex-President Sam Nujoma focused on directly procuring gems and precious stones, but with no agreement as yet.

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