Namibia to promote natural diamonds use in Las Vegas
By: Eric N Mhunduru
Namibia is set to take part at the Las Vegas Diamond conference, scheduled for 29 May to 01 June, in solidarity with other nations supporting the use of natural diamonds as opposed to synthetic ones.
Industries, Mines and Energy Minister, Modestus Amutse said Namibia’s attendance is meant to strengthen efforts to promote the quality, use and marketing of natural diamonds, that are produced locally.
The event is expected to bring together global industry leaders in the diamond production, as well as gem and jewellery bodies from around the globe.
Amutse said the Las Vegas conference’s main objective is to discourage the use of synthetic diamonds as a collective unit.
“Namibia will be represented and I believe many countries will be present. I anticipate Botswana and Angola will be part of the panellists’ including other diamond producing African countries.
“It means that we are in together and we feel the pinch together of the use of synthetic diamonds. So we therefore want to fight it together as one collective team, as opposed to the use of natural diamonds.
“So, it simply strengthens ourselves not only as a country but as a unit, one unit with common concern and the common objective and that is to achieve the strengthening and the marketing of natural diamonds over any other fake diamonds,” he said.
Amutse said, as a measure to strengthen the fight against synthetic diamonds, Namibia has signed the Luanda Accord, which governs the aspirations to promote the successful use of natural diamonds.
Signatories to the Luanda Accord include Angola, Botswana, Namibia, Sierra Leone and the Democratic Republic of Congo, along with industry leaders in the diamond production.
He said synthetic diamonds use has also impacted on the local mining sector, which has faced sharp declines in export revenues, which has affected the GDP contribution, while also threatening to shrink the diamond mining job market.
“The market has not been good and as a result it has impacted negatively on even the operations of our mines that are dealing in diamonds, not only in Namibia but it is a worldwide crisis now.
“We anticipate that the trend will change to better in the coming three years and we expect a better situation when it comes to the diamond market going forward.
“We have signed as a country the Luanda Accord, which is governing our aspirations to see the successful promotion of the natural diamonds,” said Amutse.
He also touched on the value addition initiative that the Namibian government has embarked on.
“We have site-holders in Namibia, and these are the people who we allow to have access to our diamonds and they add value to them.
“This is a program that we have established as a government, to ensure that we add value to our natural resources instead of exporting them raw as the situation has been.
“This is not only with diamonds but also with other minerals, that is the way we are focusing and going,” Amutse said.
At its peak, the diamond sector accounted for roughly 10% of GDP, which represented a substantial portion of export earnings.
The diamond sector provides direct employment through Namdeb and Debmarine, through their parent company, De Beers, while also sustaining countless indirect jobs in local communities, transport, logistics, and support services.
A downturn in this sector threatens to ripple across the economy, impacting both public finances and private enterprises that depend on the mining sector.
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