SA still world’s fourth diamond producer

CAPE TOWN – South Africa maintained its position last year as the world’s fourth-largest diamond producer, with an output of about 13 million carats, valued at R7,8 billion, says the SA Diamond Board.

In its 2003/04 annual report, tabled at Parliament on Thursday, the board said the industry employed 28 000 people around the country: 13 000 in mining; 9 000 in jewellery retail; 3 000 in jewellery manufacturing; 2 100 in cutting and polishing; and 900 in sorting and valuing diamonds. Country’s producing more diamonds than South Africa were Botswana, Russia, and Canada.The board said South Africa was “a solid diamond trading country with a complex value chain”.”However, (it) still exports rough diamonds.The challenge is to add value to our goods by creating a high-value chain.”Our major challenge is to grow and advance South Africa’s cutting, polishing and jewellery manufacturing capacity in such a manner that it positions South Africa as a globally competitive diamond-producing country.”The world’s rough diamond market commanded high prices during the year under review.”There was, on average, a 20 per cent increase in rough diamond prices.Recently, De Beers Diamond Trading Company announced increases of about eight percent.”A long-term shortage of diamonds is forecast, and prices are expected to rise,” the board said.-Nampa-SapaCountry’s producing more diamonds than South Africa were Botswana, Russia, and Canada.The board said South Africa was “a solid diamond trading country with a complex value chain”.”However, (it) still exports rough diamonds.The challenge is to add value to our goods by creating a high-value chain.”Our major challenge is to grow and advance South Africa’s cutting, polishing and jewellery manufacturing capacity in such a manner that it positions South Africa as a globally competitive diamond-producing country.”The world’s rough diamond market commanded high prices during the year under review.”There was, on average, a 20 per cent increase in rough diamond prices.Recently, De Beers Diamond Trading Company announced increases of about eight percent.”A long-term shortage of diamonds is forecast, and prices are expected to rise,” the board said.-Nampa-Sapa