Government establishes Diamond Company
18 May 2016
  • By Andreas Simon

The birth of a Namibian owned Diamond Company has put Government in a better position to market and sell Namibian rough Diamonds in the industry.


The announcement of the new Diamond Company called Namib Desert Diamonds (Pty) Ltd (NAMDIA)  was made during the official signing ceremony of the Government DeBeers Diamond Sales and Marketing Agreement on 16 May 2016. The new company, which is 100% owned by the Government gives Namibia a controlling foot into the sales and marketing of local rough diamonds.


During the event, the Minister of Mines and Energy, Obeth Kandjoze mentioned in his statement, that NAMDIA will play a key role, as it will serve as a Diamond Sales and Marketing company, and it will also be used as a window on the market to discover what price the international market is prepared to pay for highly rated rough diamonds.  NAMDIA wil be distributing up to 15% of Namdeb Holdings total production.