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NDTC
The Namibia Diamond Trading Company (NDTC) is a 50/50 joint venture between the Republic of Namibia and the Diamond Trading Company, DTC; the mining and sorting arm of De Beers. Namibia is a known source for gem quality diamonds and is the fourth-largest exporter of nonfuel minerals in Africa. In terms of scale, impact and economic importance, diamond mining is the most prominent industrial activity in Namibia. NDTC joint venture The NDTC agreement and joint venture was reached in January 2007. According to the NDTC, the partnership was developed to promote diamond sorting, valuing, selling and marketing practices in Namibia through the exclusive use of domestically mined stones. It is estimated that 300 million in diamonds will be exported from Namibia in the calendar year 2009. NDTC environmental controversy The origins of the NDTC joint venture were initiated in 1994 with a mineral right agreement between De Beers and the government of the Republic of Namibia, resulting in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
De Beers
De Beers Group is an international corporation that specializes in diamond mining, diamond exploitation, diamond retail, diamond trading and industrial diamond manufacturing sectors. The company is active in open-pit, large-scale alluvial and coastal mining. It operates in 35 countries and mining takes place in Botswana, Namibia, South Africa, Canada and Australia. From its inception in 1888 until the start of the 21st century, De Beers controlled 80% to 85% of rough diamond distribution and was considered a monopoly. Competition has since dismantled the complete monopoly; the De Beers Group now sells approximately 29.5% of the world's rough diamond production by value through its global sightholder and auction sales businesses. The company was founded in 1888 by British businessman Cecil Rhodes, who was financed by the South African diamond magnate Alfred Beit and the London-based N M Rothschild & Sons bank. In 1926, Ernest Oppenheimer, a German immigrant to Britain and later ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
