Namibian diamonds contributed N.dollars 2.5 billion in royalties, taxes and dividends to State Revenue Fund in 2013

WINDHOEK: Namibian diamonds contributed N.dollars 2.5 billion in royalties, taxes and dividends to the State Revenue Fund in 2013, and similar levels of contributions are expected in 2014.

Mines and Energy Minister Isak Katali announced this in the National Assembly (NA) yesterday whilst introducing his ministry’s budget allocation of N.dollars 869 453 000 million.

He said separately, the Namibia Diamond Trading Company (NDTC) contributed N.dollars 120 million in dividends to the State as a result of the local sales of diamonds to local cutting and polishing factories.

The country’s main diamond mining company Namdeb Holdings contributed N.dollars 74 million in dividends.

Katali said it is imperative that diamond inspectors remain vigilant whenever diamonds are being handled or transported.

The minister further informed his fellow legislators that the beneficiation of diamonds continues to be one of the key objectives aligned with Vision 2030 and the National Development Plan (NDP) goals.

SOURCE: NAMPA