Our History
Namakwa Diamonds traces its origins through to the sales and trading business established in South Africa in 1979 by Mr. Tom Kruger.
When Heno Kruger became involved in the business back in 1999, Namakwa Diamonds adopted a process of strategic expansion and directed investment, which was initially focused on expanding the sales and trading operations. However, when Nico Kruger joined the business in 2001, the strategy was developed to encompass the acquisition of diamond mining operations to allow the business to capture supply direct from its source and integrate diamond mining with its sales and trading operations.
Between 2001 and 2006, Namakwa Diamonds began to execute its revised integrated strategy, focussing on the acquisition of high grade, alluvial resources with a short time to delivery and low capital costs for development, to increase its market share of rough diamonds. Initial focus was on South Africa’s North West Province and Namaqualand, Angola and the DRC.
The development of this integrated strategy was supported by two financing rounds: in April 2007, with a private placement of US$45m; and an IPO in December 2007, raising approximately US$190m.
