Many of the Rough diamonds suppliers are finding themselves in very rigid positions in South Africa after a sharp drop of the availability of rough supplies in South Africa.

This is despite the efforts made the National Parliament to increase local productions of polished diamonds.  Millions were invested in training programs and setting up cutting works also providing additional education for future Diamantaires.

The Diamond industry is under tremendous strain in South Africa and talks are on the way to solve the problem. Many factors are contributing to the sharp fall of the availability of rough but most of them is due to other venues found in exploiting the corporate sales of the industry due to the tight clamp administration by the government to shift power to the BEE elected companies.

The long-term influence this might have, brings uncertainty in the diamond industry of South Africa making the stock markets surrounding the mining industry very vulnerable for investments and delegated management’s teams.

Still most Diamond mining companies sell the idea that the diamond exports to be on target and constantly growing. The failing of rough supply to the local industries could mean a sharp fall in availability that would also affect the jewelry industry sales in South Africa. South African jewellers largely depend on its sales to tourist during the seasons.

This could ineffectively mean that diamonds sales could sharply drop in South Africa due to the unavailability of polished diamonds in South Africa if not urgently addressed by National Parliament and the governing bodies of the South African diamond industry.

For DiamondTopics by Kevin Brennan (Press member)