In January 2007, the Government of the Republic of Namibia (GRN) and De Beers signed a diamond sorting, valuing and marketing agreement. Under the agreement, Namdeb’s production in Namibia was to be be sold through the Diamond Trading Company (DTC) until 2013, where after the two parties would re-negotiate.

The agreement included the formation of Namibia Diamond Trading Company (NDTC), a 50:50 joint venture between the Government of Namibia and De Beers. It exists to recognise and formalise the efforts of the Government of the Republic of Namibia and De Beers to develop a sustainable local downstream diamond industry in Namibia.

The history of the NDTC in Namibia dates back to 1988 when the first sorting and valuation activities were established. DTC Valuations Namibia, a wholly owned De Beers company, continued with the sorting and valuing functions until the creation of NDTC in January 2007.

The purpose of NDTC is to make diamonds available for sale in Namibia for local manufacturing. This will support Namibia’s economic imperative to drive job creation and value creation from its diamond resources.

In Namibia, the sorting, valuing and sales of the country’s rough diamonds – as well as the development of opportunities for value creating and marketing initiatives as appropriate for Namdeb Holding’s diamond production – takes place through NDTC.

The NDTC sorts an average of over 1.3 million carats annually mined by Namdeb and Deb Marine Namibia under the Namdeb Holding Company.