Tempelsman In Talks to Take Over Namdeb Polishing Subsidiary

NamGem, Namdeb’s cutting and polishing factory in Okahandja, Namibia, could possibly be transferred into the hands of American diamantaire Maurice Tempelsman. 

The talks between Namdeb and Tempelsman, if successful, will bring Tempelsman’s Lazare Kaplan International as a technical and marketing partner.

Lazare Kaplan, a DTC Sightholder and diamond manufacturer, will bring its know-how and experience to NamGem with the aim of turning it around financially.

Lazare Kaplan also wants to have the option to take over the factory within two years.

Namdeb’s choice of Tempelsman, a long time business associate of De Beers, owner of the company in equal shares with the Namibian Government, makes sense to the diamond industry, however it was met with certain criticism in Namibia where calls to seek a local partner were voiced.

Under section 58 of the Namibian Diamond Act, the Government may require local producers to supply local manufacturers, but section 58 was never enforced, and the Namibian polishing industry buys its rough from the DTC or other, external, sources.