NDTC markets over 2.3 million carats in 2023

WINDHOEK: The Namibia Diamond Trading Company (NDTC), has sorted, valued and marketed in excess of 2.3 million carats during the 2023 financial year despite the significant increase in carat intake from the Namibia De Beers (Namdeb) holdings.

This was announced by NDTC Chief Executive Officer (CEO) Brent Eiseb during a media briefing on the successes and business performance of the company for the 2023 financial year, here on Tuesday.

Eiseb said despite the significant increase in carat intake from Namdeb holdings, driven largely by the commissioning of the Benguela Gem diamond recovery vessels in 2022, NDTC has increased its staff complement by 13 per cent particularly, in the diamond sorting and valuation mandate.

‘This concept has expanded its technological footprint with the successful adoption of a world-class sorting technology that enables efficient and effective methods of facilitating its sorting and valuation mandate,’ said Eiseb.

NDTC sold approximately 77 per cent of its total offering to NDTC
sightholders despite the challenging market conditions in 2023 and employs 91 Namibians to undertake the sorting, valuation and sale of Namibia’s rough diamond production.

‘I am pleased to inform you that 88 per cent of the total sales to NDTC sightholders during 2023 was fully processed in Namibia, while the industry was averaging 38 per cent a few years ago,’ Eiseb said.

Other notable achievements according to Eiseb include the N.dollars 100 million dividends paid to NDTC shareholders, N.dollars 84 million corporate taxes paid, N.dollars 197 million export levy paid, and N.dollars 1.05 million contribution to the Namibia Training Authority (NTA) Training Levy.

Despite these successes, NDTC still has to deal with the impact of the introduction of the G7 restrictive measures against Russian diamonds.

‘NDTC remains committed to facilitating beneficiation within the sector as beneficiation remains a fundamental component in our supply strategy and is a key objective of our business strategy,’ said Eiseb.

he event also presented NDTC’s first Diamantaire Enterprise development programme graduates.

Source: The Namibia Press Agency