Image credit: Isabella Jewelers
De Beers has accepted five-diamond polishing and jewellery manufacturing companies in South African to its Enterprise Development Project for Diamond Beneficiators.
This project, which was launched in 2016, facilitates the growth and transformation of diamond beneficiation in the southern African country.The five companies selected from a pool of companies are B&H Mining, Irresistible Rough Diamonds, Isabella Jewellers, Outclass Crystalized Gems, and Sunrise GemStone.
Four of these companies have beneficiation licences, one has jewellers permit and precious metals refining licence, two are wholly-owned by black women.
“Our aim is to assist with the growth and transformation of the diamond industry in South Africa,” De Beers sightholder sales South Africa senior VP Peter Phemelo Moet was quoted as saying by Mining Weekly.
“We are also extending our contribution to include jewellery manufacturers, thereby demonstrating our support for beneficiation throughout the value chain.
“For us, it is also about making sure that the companies we have appointed succeed in primarily having the competitive and very important entrepreneurial skills, and those skills are provided by business incubating company Raizcorp.”
Five diamond cutting and polishing companies graduated from the same project last year.
Each participating company received an allocation of rough diamonds from De Beers, in line with their market requirements and capacity.
The group will also facilitate local and international market access as well as sponsor their participation at international trade shows, including the Hong Kong Jewellery and Gem Fair and JCK Las Vegas.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
