South Africa Urges Diamond-Sector Transformation

RAPAPORT... The South African government is calling for change in thediamond industry after expressing concern about the slow pace of localbeneficiation. The Portfolio Committee on Mineral Resources and Energy hasappointed a regulator to monitor the transformation after a weeklong review andoversight of the South African Diamond and Precious Metals Regulator (SADPMR),mineral research and development entity Mintek and the State Diamond Trader. While the country produced881,072 carats in the 2017 to 2018 financial year, only revenue from the saleof 284,212 carats was used to benefit the local economy, according to data from SADPMR. "Although we applaud the regulator for a clean bill ofhealth with regard to its finances, its effort to transform the sectors stillremains a major concern for us," committee chairman Sahlulele Luzipo said lastweek. Image: Rough diamonds. (De Beers)