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AMZN 239.26-1.0%3:59 PM EST
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To: H James Morris who wrote (146057)8/23/2002 4:36:37 PM
From: Glenn D. Rudolph  Read Replies (2) of 164685
 
De Beers still trying to maintain a monopoly. Some of these smaller governments may be bought relatively cheaply.

"--- Namibia Postpones Decision to Expand Market Beyond De Beers

The Namibian Cabinet has postponed a decision to sell diamonds on the
open market without the involvement of De Beers. The postponement
follows a loan of $45.7 million offered to the Namibian government by
De Beers sightholder Maurice Tempelsman, according to AllAfrica.com.

Tempelsman proposed the loan in a letter to Namibian President Sam
Nujomo upon hearing of government plans to allow locals direct
participation in the sale of diamonds. The loan was offered to help
cover the Government's projected national budget deficit.

Four months ago, the Cabinet had authorized the Ministry of Mines and
Energy to use a dormant section of the government's diamond law to
open up the country's diamond market. The sales were supposed to begin
in May or June, but never occurred."
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