Swartbooi cautions that synthetic diamonds risk Namibia’s jobs and revenues

By: Staff Reporter

Landless People’s Movement (LPM) leader and parliamentarian, Bernadus Swartbooi, has raised questions over the impact of synthetic diamonds on Namibia’s traditional diamond sector.

Swartbooi addressed the questions to mines minister, Natangue Ithete, during the parliamentary sitting on Wednesday.

He warned that the country risks revenue losses, job cuts, and reputational harm if the issue is ignored.

“The diamond industry has long been a cornerstone of Namibia’s economy, contributing significantly to government revenue. In recent years, however, the global diamond industry has witnessed a rapid rise of synthetic or laboratory-grown diamonds,” he said.

Swartbooi asked if the ministry has assessed the impact of synthetic diamonds on Namibia’s natural diamond market and revenues.

“What approaches has the ministry put in place or intends to put in place to protect consumers in Namibia and abroad from the misrepresentation of synthetic diamonds as natural diamonds, and whether the ministry is considering a distinct certification system to preserve the integrity of Namibian diamonds,” he asked.

Swartbooi also questioned what projections the ministry has on potential revenue losses from synthetic diamonds and whether strategies are in place to mitigate the impact.

“What plans does the ministry have to protect jobs in Namibia’s diamond mining, cutting, polishing, and beneficiation industries in the event that synthetic diamonds reduce international demand for natural diamonds, and whether the ministry is pursuing diversification strategies for the sector,” he asked.

Swartbooi said the ministry should consult Namibia’s diamond partners and regional bodies to protect the competitiveness and value of natural diamonds against synthetic ones.

The minister is expected to respond during Thursday’s parliamentary session.

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The post Swartbooi cautions that synthetic diamonds risk Namibia’s jobs and revenues appeared first on Future Media News.