The Namibian Diamond Trading Company (NDTC) has received 18 applications from companies who are vying to be its exclusive client for purchasing roughs. NDTC plans to select its final list and announce it in early October. Those on NDTC list will receive a three-and-a-half year contract to purchase roughs.
NTDC has outlined a transparent selection criteria and an ombudsperson has been appointed to help NDTC in the same. The selected companies need to hold a diamond cutting and polishing license.
Paulus Shituna, Sales and Marketing Manager of NDTC, mentioned that the applicants were mainly joint ventures in Namibia's local cutting and polishing factories. The NDTC holds the exclusive rights to sell Namdeb diamonds. It would allocate 10 percent of the Namdeb production valued at US$296 million (N$2.1 billion), to local cutting and polishing factories on an annual basis.
Be the first to comment