De Beers criticises State Diamond Trader

Friday, March 05, 2010

DAVID Noko, who steps down as MD of De Beers Consolidated Mines (DBCM) at the end of March, says the State Diamond Trader (SDT) needs to be fixed.

Asked about widespread diamond industry dissatisfaction with the SDT Noko told Miningmx, "that area is a mess. It needs to be fixed and I believe government is committed to fixing it. This is a temporary setback."

The SDT was set up by government in 2007 with major support from De Beers and the Industrial Development Corporation (IDC). It aimed to increase the supply of rough diamonds to local polishers and cutters.

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De Beers criticises State Diamond Trader

DAVID Noko, who steps down as MD of De Beers Consolidated Mines (DBCM) at the end of March, says the State Diamond Trader (SDT) needs to be fixed.