Namdeb strikes 176-carat find
Namdeb Diamond Corporation (Namdeb) has unveiled a 176.29-carat natural diamond recovered from its Southern Coastal Mine in Oranjemund, describing it as the largest diamond of its kind found at the operation in two decades.
The stone was unveiled at a ceremony attended by President Netumbo Nandi-Ndaitwah, representatives of the Namdeb and Namdeb Holdings boards, the Namibia Diamond Trading Company (NDTC), De Beers Group, government officials and other stakeholders.
The discovery comes as the global natural diamond industry faces a difficult period, with producers under pressure from changing consumer preferences, competition from laboratory-grown diamonds and weaker demand in key markets.
Iconic Owishi discovery
Nandi-Ndaitwah named the diamond Owishi, after a rare type of honey found underground which is regarded as a prized discovery.
The name, she said, was intended to give the stone a distinctly Namibian identity as it moves through the diamond industry.
The President described the discovery as a significant milestone for Namdeb and a source of pride for Namibia, while highlighting the wider economic importance of mining to the country.
“May this discovery renew our commitment to ensuring that the wealth beneath our soil becomes a source of shared prosperity for all Namibians,” she said.
Namibia's diamond industry has historically been an important source of export earnings, government revenue and employment, with Namdeb's operations in the country's south and along the Atlantic coast forming a significant part of the sector.
Pressure of lab grown diamonds
But the industry is facing a changing market, increasing the pressure on diamond-producing countries to capture more value locally rather than relying primarily on the extraction and export of rough stones.
Nandi-Ndaitwah called for greater innovation and adaptability, including the development of cutting and polishing, jewellery manufacturing and other related activities.
She said such opportunities would need to be guided by market demand, appropriate skills and technology.
The push comes as Namibia seeks to increase the economic benefits generated from its mineral resources and develop activities further along the mining value chain.
Namdeb, a joint venture between the Namibian government and De Beers Group, said the discovery also highlighted the role of its employees in recovering the country's diamonds safely and responsibly.
Unusual discovery
The company's board chairperson, Martha Uumati said the stone represented more than an unusual mining discovery, pointing to the value of natural diamonds and the partnership between the Namibian government and De Beers.
“Behind this extraordinary discovery are the hands, expertise, discipline and dedication of the Namdeb men and women who safely recover Namibia’s diamonds every day,” Uumati said.
The company said the discovery provided an opportunity to highlight the people, communities and national development supported by Namibia's natural diamond industry.
The value of the 176.29-carat stone was not disclosed.
Its eventual destination, including whether it will be sold as a rough diamond or processed further, was also not detailed in the announcement.
The discovery nevertheless gives Namibia another high-profile natural diamond with which to promote the country's diamond heritage at a time when producers globally are reassessing how the industry can remain commercially viable.
