Namibia’s Mines and Energy ministry has called on small and medium enterprises (SMEs) to capitalize on opportunities in the country’s diamond sector, emphasizing that involvement goes beyond direct mining activities.
Namibia, ranked as the world’s eighth-largest diamond producer, has opened doors for broader participation through the Diamond Act of 1999. The legislation allows Namibian entrepreneurs, businesses, and researchers to engage in multiple facets of the diamond value chain.
“Participating directly in diamond mining requires significant capital investment,” the Ministry said.
“However, there are numerous opportunities for Namibian individuals, SMEs, and businesses to contribute to the economy without being involved in upstream mining.”
The Ministry outlined several avenues for participation, including diamond trading, cutting and polishing, toolmaking, and research, all facilitated under the Diamond Act.
This regulatory framework aims to expand access to the sector and empower Namibians to harness the country’s resources for economic growth.
Licenses available under the act include:Dealer’s License: For buying, selling, and exporting rough diamonds, Cutter’s License: For cutting and polishing diamonds, Tool Making License: For creating tools and implements using diamonds and a Research License: For conducting diamond-related studies.
The Ministry assured a transparent and fair application process for Namibians who meet the requirements.
“This Act provides a regulatory framework that enables broader participation in the diamond value chain, opening doors to those outside the traditional mining industry,” the Ministry said.
