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LLD Cuts 77 Workers, 30 Left at Polishing Factory

Mar 9, 2009 5:59 AM   By Deena Talyor
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RAPAPORT... Lev Leviev Diamonds' (LLD) Namibia polishing factory is scaling back its operations and has cut 77 workers, leaving it with a staff of approximately 30 people, LLD CEO Kombadayedu Kapwanga told the Namibian Economist.   
LLD’s Namibia factory, which was established in 2002, was meant to produce 25,000 carats per month and employ 550 people at full capacity.The factory, which is one of 11 Diamond Trading Company (DTC) Namibian sightholders, has faced numerous challenges since its inception. It was originally designed to polish diamonds from its sister marine company, SAMICOR, but the diamonds proved to be too small and the current 4,000 carats per month supplied by Namdeb, a joint venture between De Beers and Namibia, is not enough to run LLD’s factory at full capacity, according to Kapwanga.
“We can only hope for the best and hope that the global economy recovers. People are losing jobs in the mining companies and also in the polishing companies,” Kapwanga remarked.

Tags: De Beers, DTC, Economy, Leviev, Mining Companies, Namdeb, Namibia, Polishing, Sightholders
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