By: Nghiinomenwa-vali Erastus
The Namibia Desert Diamonds (Namdia) believes the country can earn significantly more from its diamond resources if the company is granted access to a larger share of rough diamonds.
In its latest quarterly report, released last week, Namdia stated that it has consistently achieved higher prices through its price discovery approach — highlighting the untapped potential for increased national revenue.
According to the report, Namdia recorded an average selling price of US$518.28 per carat in 2024, well above Namibia’s national average of US$416.18 per carat.
This performance also exceeded the global averages, underscoring Namdia’s strategic role in identifying the true market value of Namibian diamonds.
“The price we achieved affirms our role in securing maximum benefit from every carat sold,” the company said.
Namdia added that Namibia led all top diamond-producing countries in terms of average price per carat.
The closest competitor was South Africa, with US$124, followed by Botswana at US$117 per carat.
The company argues that outperforming the national average price demonstrates the potential for greater national returns if its share of rough diamonds is increased.
Currently, Namdia is entitled to 15% of Namibia’s rough diamond production.
This allocation, referred to as a “run-of-mine,” is sold directly to vetted international clients — mainly manufacturers and diamond dealers — who meet stringent compliance and industry standards.
Namdia’s mandate is to act as a price discovery vehicle on behalf of the Namibian government, helping establish fair market value for the country’s diamonds.
Last year, Namdia handled 260,599 carats, valued at N$135.1 million, from the country’s total production of 2.3 million carats, which were valued at around N$1 billion.
Meanwhile, the company revealed it has upgraded its security infrastructure in response to a recent diamond robbery.
An independent investigation into the incident is ongoing. erastus@thevillager.com.na
