NDTC decalres 11 companies for rough supplies

Finally Namibia Diamond Trading Company (NDTC) has created and declared the list of qualifying companies who would receive rough supplies for a contract period of three-and-a- half years (2007-2011). Eleven companies from the 18 applications have been chosen for supplies.

NDTC chairman Shihaleni Ndjaba declared that “on October 29 these companies with operational factories as of July 18, 2007 will be entitled to receive their first supplies for cutting and polishing here in Namibia, and the remainder will receive supply from March 31, 2008”. Also, $300 million (N$2 billion) worth of diamonds would be ready for local diamond manufacturing, by 2009, according to NDTC.

The successful applicants for the diamond supply contracts from NDTC include: 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.

NDTC is a 50:50 joint venture between Namibia’s government and De Beers. According to Varda Shine, the DTC managing director and NDTC board member, all the selected applications would undergo third-party verification.