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RAPAPORT... The Namibian Diamond Trading Company (NDTC,) which was set up in January 2007 to handle sales and local processing of rough diamonds, has yet to distribute its gems to Namibia's diamond cutting and polishing companies, The Namibian reported.
In an interview with the newspaper, NDTC board member Daniel Kali said the company was still in the process of setting up operations, importing machinery and technology and setting a clear supply criterion.
NDTC is joint venture between the Namibia and De Beers as a means to ensure that the local cutting and polishing sector is assured of rough supply.
As the marketing arm of mining company Namdeb Diamond Corporation, also a De Beers-government partnership, NDTC undertook to supply 16 percent of Namdeb's rough production to the local market.
Kali, meanwhile, could not say when the NDTC would start functioning, according to The Namibian.
"There is a lot of work that needs to be completed before this process can commence. Not least of which is NDTC's technical readiness," the newspaper quoted Kali as saying. "We are currently installing the appropriate machinery and technology and will be commissioning soon."
"All this work is happening at the moment," he added.
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