It has been reported that the National Mineral Development Corporation, India’s largest producer of iron ore, is targeting areas in Namibia for exploration and production of diamonds.

Diamonds currently constitute less than 2.5% of the company’s sales but it is looking to expand overseas. NMDC is reportedly to form a wholly owned subsidiary – Nam India Mineral Development Corporation – to own and exploit the first Namibian deposit.

 

Shaun Bakamoso

Greetings. I'm Shaun Bakamoso, and I'm thrilled to be your guide through the dynamic world of business news in South Africa here at mbendi.co.za. With a passion for staying informed and a keen interest in the ever-evolving landscape of business, I've dedicated myself to providing you with timely, insightful, and comprehensive coverage of the latest developments impacting the South African economy. bakamoso@gmail.com / Instagram