By Emma Kakololo
WINDHOEK
The names of companies to be supplied with rough diamonds by the Namibia Diamond Trading Company (NDTC) – the sole agent selling Namdeb diamonds – were revealed yesterday.
The successful companies that have been selected from an application process out of 18 applicants to become NDTC first clients until 2011 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; and Trau Bros Diamonds Namibia (Pty) Ltd.
Before the establishment of NDTC in January this year, DTC International had an exclusive agreement to sell Namdeb diamonds. The Namibian DTC will sell 10 percent of the total Namdeb diamond production per year to local cutting and polishing factories.
It is envisaged that a total sale of N$2 billion worth of diamonds will be made inside Namibia by 2009, which constitutes five percent of the Gross National Product of the country.
NDTC at a press conference yesterday said the number of companies it has chosen was optimum and believed would help the country to create a diversified and successful diamond industry.
“These companies will help us drive a more diversified and profitable diamond industry in Namibia and deliver a sustainable and economically efficient diamond industry that will benefit the whole country,” said NDTC Board Member Varda Shine.
According to the company’s Chairman Shihaleni Ndjaba, the company had a tough job of assessing those that have demonstrated the strongest ability to both drive demand for diamonds and promote diamond cutting and polishing in the country.
“This is an historic day for the Namibian diamond industry.”
“On 29 October, these companies with operational factories as of 18 July 2007 will be entitled to receive their first supplies for cutting and polishing here in Namibia and the remainder will receive supply from 31 March 2008,” said Ndjaba.
“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.”
NDTC is a 50/50 joint venture between Government and De Beers Group.
Ndjaba was optimistic that the new contract awards would create more employment opportunities – about 1 000 jobs next year to increase to over 1 500 by the end of 2009.
The four mandatory selection criteria were: good financial standing and reliability; general business reputation; compliance with Best Practice Principals (BPP) and its associated Assurance Programme; and a minimum turnover of U$$5 million (N$33,8 million).