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NDTC to be primary vehicle for growth of diamond manufacturing industry

31 Jan '07

3 min read

It is envisaged that NDTC will be the primary vehicle for the growth of the diamond manufacturing industry in Namibia. Working together with Namibian-based diamond manufacturers, NDTC will also support local marketing initiatives. The new agreement will ensure that up to N$2billion (US$300 million) worth of diamonds will be made available locally by 2009; representing close to 5% of Namibia's GDP.

Delivering the keynote address at the occasion, Namibia's Minister of Mines and Energy Erkki Nghimtina said: "With the signing of this agreement today we have further deepened our partnership with De Beers to ensure that diamonds contribute even further to the economic success of Namibia."

Also speaking at the signing ceremony Nicky Oppenheimer, Chairman of De Beers, said "Today's agreement is further testimony to the strength of our 13 year partnership, and a demonstration of De Beers' commitment to working together with Government to ensure that the country's most valuable natural resource has been turned into sustainable wealth that touches the lives of all Namibians."

The sales agreements between DTC International, NDTC and Namdeb will next be reviewed on 31 December 2013.

The DTC is the sales and marketing arm of the De Beers Group and is the world's largest supplier of rough diamonds. With activities in sorting and valuing, sales and marketing, the DTC has representative offices in many countries including the UK, South Africa, Botswana, Namibia, Japan, Hong Kong, Italy, Dubai and India. Formed in 1934, the DTC was incorporated in 1986 and established as a stand alone company within the De Beers Group in July 2004.

De Beers

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