South Africa’s Special Investigating Unit (SIU) raided the premises of diamond company Alexander Bay Diamonds – previously known as Scarlet Sky Investments with the assistance of the Hawks.
Mining Weekly reports that SIU and the Hawks raided the Alexander Bay offices on August 11 looking for information and evidence that will help with an ongoing investigation into the affairs of State-owned diamond mining company Alexkor.
The SIU received a tip-off from a whistle-blower that claimed serious maladministration in the marketing, valuation, sale and beneficiation of diamonds at Alexkor.
Alexander Bay was appointed by Alexkor in 2015 to help it with the marketing, valuation, sales and beneficiation of its diamonds.
Alexkor believed its diamonds were being sold at about 30% below market value before its agreement with Alexander Bay.
The circumstances and procurement process that followed and which led to the appointment of Alexander Bay are subject to the SIU investigation.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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