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Namakwa Diamonds Rises After Naming Chairman, Getting Funds

Namakwa Diamonds Ltd. (NAD), a miner of the gems in Africa, jumped the most in 2 1/2 years in London trading after naming a chairman and reaching a funding accord.

Namakwa climbed 2.75 pence, or 26 percent, to 13.25 pence at the 4:30 p.m. close, the biggest one-day gain since January 2009. The Johannesburg-based company appointed Edward Haslam as chairman and named Alex Davidson as senior independent non- executive director, it said today in a statement.

The company also said it reached an agreement with Jarvirne, the investment vehicle of industrialist Eduard Prutnik, on funding for its kimberlite mining project at Kao in Lesotho.

To contact the reporter on this story: John Viljoen in London at jviljoen@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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