The new Namibian State diamond company Namib Desert Diamonds (Namdia), which intends to produce diamonds worth $ 150 million annually, is reported to have started work in April of this year, local media reported, but we know about it was only recently.
Minister for Mines and Energy of Namibia vow Kandzhoze (Obeth Kandjoze) said in an interview with the Namibian newspaper that Namdia operations were started April 18, 2016, and the current Diamond Commissioner Kennedy Hamutenya Namibia (Kennedy Hamutenya) became its CEO.
Namdia, fully owned by the state, was established as a joint venture between the official Windhoek and De Beers at the beginning of 2016.
The company will be a public authority for the sale and marketing of diamonds.
Kandzhoze noted that Hamutenya eating experience in the diamond industry. He negotiated Namibia and De Beers on a ten-year contract for the sale of rough diamonds.
"Given the above, the Minister supported Hamutenya, allowing it temporarily to perform tasks in Namdia Then the board will form the requirements for a new permanent director of the company.", - the newspaper said.
Kandzhoze also said that in September Namdia received the first right to buy diamonds from Namibia Diamond Trading Company (NDTC).
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United Diamond Company of Zimbabwe (Zimbabwe Consolidated Diamond Company, ZCDC) , established by the government to consolidate the entire diamond production in the country under one roof, will receive a $ 30 million "as a long-term financing and working capital," according to The Herald.
It is reported that the Government of Zimbabwe plans to increase diamond production this year to 6 million carats, and is considering the allocation of $ 30 million to fund ZCDC as an essential condition to achieve this goal. Managing Reserve Bank, Dr. John Mangqut (John Mangudya), reportedly confirmed that the negotiations with the institutions that provide finance for development.
"To achieve the goal of diamond mining in the amount of 6 million carats, according to the task of the national budget in 2016 for the consolidated company, the bank, in close cooperation with Zimbabwe Consolidated Diamond Company, the Ministry of Mines and the development of the mining industry and MMCZ, takes special measures ... ( to) expand access to long-term financing and working capital of $ 30 million ", - quotes Mangqut news source.
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