Anglo American subsidiary De Beers have announced a 10-year sales agreement with Namibia in order to “significantly increase” the quantity of rough diamonds made available for beneficiation.

The deal – which is the longest ever made between the pair – is for sorting, valuing and sales of diamonds from Namdeb. It will mean $430 million of diamonds will be offered to the Namibia Diamond Trading Company every year.

ANGLO American’s subsidiary De Beers and the Namibian government have signed a 10 year sales agreement, the resources group said on Monday after the market closed.

De Beers CEO Philippe Mellier said in a statement: “This sales agreement – the longest ever between Namibia and De Beers – not only secures long-term supply for De Beers, but also ensures that Namibia’s diamonds will continue to play a key role in national socio-economic development long into the future.”

17/05/2016