NDTC Selects 11 Sightholders

The Namibia Diamond Trading Company, the 50/50 joint venture between the Government of the Republic of Namibia and the De Beers Group, on Thursday announced the outcome of the first application process for the supply of rough diamonds to manufacturers in Namibia. Eleven companies have qualified to receive supplies of rough diamonds for the three-and-a-half-year contract period (2007-2011).

A total of 18 companies applied for sightholder status. The successful applicants for the diamond supply contracts from NDTC 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

Companies with operational facilities as of July 18 will receive their first supplies for cutting and polishing on Oct. 29, said Shihaleni Ndjaba, NDTC chairman. The remainder will receive their first supplies on March 28, 2008.

“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,” Ndjaba said.

“The establishment of NDTC is of significant value to the global diamond industry and is a clear demonstration of beneficiation in action,” said Varda Shine, NDTC board member and managing director of DTC Intl. “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.”