REINFORCING INDUSTRY
The Young Diamond Beneficiators Guild aims to strengthen South Africa’s diamond beneficiation industry
Photo by: Duane Daws
To empower young diamond beneficiators in South Africa, where the sector has declined in recent years, the Young Diamond Beneficiators Guild aims to provide support to new entrants in the local industry and assist in getting more South African youth into the diamond industry, thereby strengthening the sector with new cutting and polishing skills.
The guild was launched during the inaugural South Africa Diamond Indaba, held at the Sandton Convention Centre, in Johannesburg, on October 27.
State Diamond Trader (SDT) CEO Futhi Zikalala says the guild was conceptualised during the SDT’s national pavilion at the Hong Kong Gem and Jewellery Fair, in March.
“The road ahead is quite daunting, but the guild has brought about a new energy and, from this, the SDT intends to build further,” she enthuses.
Zikalala notes that, according to a recent discussion with Young Diamond Beneficiators Guild president Molefi Letsiki, the guild has garnered the interest of other emerging diamond beneficiators.
According to Letsiki, the guild aims to ensure that the bulk of rough diamonds produced in South Africa are retained and beneficiated locally, thereby leading to the growth of local diamond manufacturing businesses. This will also result in the creation of jobs, align skills to international industry standards and assist in finding ways to vastly increase the local diamond consumption market, mainly at a midtier level among the millennial and younger generations.
Further, the guild aims to promote the South African diamond beneficiation industry through international diamond shows and events, with Zikalala explaining that guild members have observed international companies marketing South Africa-sourced diamonds and gaining substantially from doing so.
Yet, these international companies did not have a South African footprint. “The guild intends to reclaim this space over time and, thus, use traditional and innovative ways of promoting locally produced diamonds on an international level,” she notes.
Zikalala tells Mining Weekly that it will be the duty of the SDT to provide guidance for the guild and assist it in focusing on the health of the local industry.