Namibia Diamond Trading Company Announces First Namibian Sightholders
November 05, 07
The NDTC (Namibia Diamond Trading Company), the 50/50 joint venture between the government of the Republic of Namibia (GRN) and the De Beers Group, announced that 11 companies, out of 18 applicants qualified to receive supplies of rough diamonds for the three and a half year contract period (2007-2011).
The companies that had operational factories as of 18 July 2007 received their first rough supply at the end of October; the remainder will receive their supply from 31 March 2008.
The 11 companies are:
- Almod Diamonds Ltd
- AMC/GemXel Diamonds (Pty) Ltd
- Finesse Diamond Corporation
- Hardstone Processing (Pty) Ltd
- JKD Namibia (Pty) Ltd
- Namcot
- Namgem
- LLD Diamonds Namibia (Pty) Ltd
- Laurelton-Reign Diamonds (Pty) Ltd
- NU Diamond Manufacturing (Pty) Ltd
- Trau Bros Diamonds Namibia (Pty) Ltd
“This is an historic day for the Namibian diamond industry,” said Shihaleni Ndjaba, NDTC chairman. “This marks a new chapter in what the government and De Beers Group believe will be a long and successful diamond manufacturing industry in our country.”
According to Ndjaba, N$2 billion ($300 million) worth of diamonds will be available for local diamond manufacturing by 2009. This represents almost 5 percent of Namibia’s GDP.
“The establishment of NDTC is of significant value to the global diamond industry and is a clear demonstration of beneficiation in action. It will enhance Namibia’s competitive supply advantage through skills and intellectual property transfer, building national capacity to meet the needs of a growing cutting and polishing industry,” said Varda Shine, NDTC board nember and managing director of the DTC.