Namdia to Sell N$ 2 Billion Rough Per Year; Releases List of 16 Clients for 2019-21
Namibia Desert Diamonds (Pty) Ltd, the state-owned company set up to sell Namibian diamonds directly to manufacturers and traders has announced the list of 16 clients to whom it will sell approximately N$ 2 billion of rough diamonds in both 2019-20 and 2020-21. This is the first time that the company has made the names of its clients public.
Namdia, as it is known, was set up in 2016 following an agreement under which Namdeb, the diamond mining JV between De Beers and the Namibian government, agreed to hand over about 15% of all rough it mined valued at approximately N$ 2 billion to the 100% government-owned company for direct sales.
In the previous cycle, the names of those buying rough from Namdia was never disclosed, officially to maintain their “safety”. The decision attracted a lot of criticism in the local media, and even some allegations that the lack of transparency was aiding corruption.
The final list includes four companies each from Namibia and Antwerp, three from Dubai, two each from India and the US, and one from Israel.
The 16 selected companies are:
- IGC Group N.V
- Dev Jewels BVBA
- Diamond Trading N.V
- Diamwill BVBA
- Dhamani Jewels DMCC
- SBMH DMCC
- Samir Gems DMCC
- S Vinod Kumar
- Kapu Gems
- Levintal Diamonds LTD
- Lieber & Solow LTD
- Mellen Inc.
- Schachter & Namdar Namibia
- DYS Diamond Manufacturer Namibia
- Tate Diamonds
- Pluczenik Diamond Company
Namdia said that it had received an overwhelming response to its announcement inviting applications from prospective clients, with over 70 companies from across the globe responding.
According to media reports, Namdia made its selection based on criteria such as a company’s business reputation, financial stability, experience in the trade of natural rough diamonds, subscription to the Kimberley Process, and availability of funds.