Lazare Kaplan Signs NamGem Deal
January 12, 04
Lazare Kaplan International has signed a strategic cooperation agreement with NamGem Diamond Manufacturing for the cutting and polishing of diamonds in Namibia.
NamGem is Namibia's flagship venture in the international diamond polishing industry and a wholly owned subsidiary of Namdeb, which in turn is equally owned by De Beers and the Namibian government.
Under the agreement LKI will provide marketing and technical manufacturing assistance to NamGem. LKI will also purchase rough diamonds and supervise the manufacturing of those stones it deemed suitable to cut and polish.
LKI will pay NamGem for manufacturing on a ‘fee for service basis’. All rough and polished diamonds will be bought and sold by LKI for its account.
“LKI understands the strategic importance of NamGem to the people and the government of Namibia and looks forward to a close and successful cooperation," says Leon Tempelsman, LKI’s President.