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Huge interest in NDTC new sight-holders process

Home National Huge interest in NDTC new sight-holders process

WINDHOEK – The Namibia Diamond Trading Company (NDTC) is receiving an overwhelming number of enquiries from diamond companies that wish to enter into supply contracts with the diamond sorting and valuation company. 

The NDTC is preparing to issue a public invitation to diamond polishing and cutting companies to apply to be sight-holders, a coveted status bestowed upon a select group of diamond companies that would receive preference to buy Namibia’s rough diamonds in bulk. The NDTC is the government’s joint venture diamond sorting and trading company with De Beers. The NDTC says it expects to round up the process of selecting successful applicants by September and would make the final announcement of the sight-holders in December this year. The much sought-after sight-holder status is a long-term contract of about three years that NDTC offers to a select few diamond polishing and cutting firms, who would on a regular basis be invited to buy freshly mined rough gems to cut and polish in the country. The latest round would be the third call for supply contracts since the establishment of the NDTC in 2007. The current supply contracts end in March 2015, NDTC Chief Executive Officer, Shihaleni Ndjaba has said.

The selection has in the past attracted criticism from both the unsuccessful diamond cutting firms in the country, as well as from the government unhappy over the successful diamond cutting firms who, it has been alleged, instead of cutting and polishing the diamonds locally as intended, ship the quality rough gems outside Namibian borders, while cutting and polishing inferior gems from outside. “We only consider reputable companies and reputable individuals,” said NDTC Manager for Sales and Marketing, Richard Steenkamp.

 

 

By Staff Reporter