Namibia’s state-owned diamond trading company, Namib Desert Diamonds (Namdia) increased the purchase of rough diamonds from De Beers’ 50%-owned Namdeb by 53% year-on-year to 222 978 carats during the 2021/2022 financial period.
The Namibian reports that the buying average carat price was $536,55, compared to the previous year’s selling average carat price of US$574,21.
The data was presented during a visit of the country’s Prime Minister Sarah Kuugongelwa-Amadhila to Namdia.
She said Namibia should add value to its diamonds than rely on the prices of rough diamonds in the global market.
“We have countries that actually do not produce diamonds, but they are wealthy countries because they are able to buy our resources in raw form for next to nothing and process them there, creating jobs and income for their countries,” said Kuugongelwa-Amadhila.
Namdia was set up following an agreement between the government and De Beers in 2016, which stipulated that Namdeb would channel 15% of its annual diamond production to Namdia.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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