31 Jan 2023
DiamondWorld Directory
Home |
DIL strikes a deal to directly procure diamonds from Namibia
The deal will enable cost reduction
By: Diamond World News Service
Jul 13 2009 4:43PM
Reference: 3992  


Diamond India (DIL) recently struck a deal with a miner in Namibia, to directly source diamonds, establishing the first ever such deal in India. DIL is the Indian consortium made up of 60 large and medium sized diamond exporters of the country, who would previously buy diamonds from Antwerp; Antwerp would source the diamonds from Russia, Africa and Canada

The direct deal with the Namibian miner will decrease cost by about 5 to 7 percent, freight charges and eliminate traders’ commissions. This comes as a boon to the local diamond exporters who operate on margins of 3 percent and have been bearing a 20 to 25 percent increase in rough diamond prices since November 2008. Media reports say that DIL has been the only other company apart from Diamond Trading Company, to directly obtain roughs from Namibia or an African miner. DIL has in the past also sourced roughs from Alrosa in Russia.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32408
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 10086
GJEPC Chairman Interview
Views: 28495
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39970
Promo for IJ Awards 2012 at NDTV Profit
Views: 57546
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 69152
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 22168
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 51344
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53702
Member of:
Supporter of: