Rapaport raps Belgium’s diamond industry ‘claw back’

Speaking out: Rapaport is known to be outspoken on various issues in the global diamond industry PIC: MBONGENI MGUNI
Speaking out: Rapaport is known to be outspoken on various issues in the global diamond industry PIC: MBONGENI MGUNI

Global diamond industry veteran, Martin Rapaport, says the Group of Seven’s decision to designate Belgium as the single node for diamond trade, is Antwerp’s attempt to “claw back” the industry from emerging powerhouse, Dubai.

Botswana and other African producers are unhappy over the G7’s plan which states that from September all polished diamonds should be routed through Antwerp for certification that the stones are not of Russian origin. A G7 team that was in the country last week for consultation left without providing any assurances to local authorities.

Minerals and Energy minister, Lefoko Moagi, previously described the G7’s proposals as ‘market swallowing’, while De Beers, the world’s single biggest industry producer outside of Russia, has equally noted its outrage on the issue.


Editor's Comment
Government’s efforts commendable!

Since the news broke, the government made sure to work hand in hand with the South African government to assist the families of the victims. The two countries came together to help the families identify the bodies of their loved ones through DNA testing. The government also announced that they would assist families with food for mourners before the funerals.Even though the deceased persons were mostly residents of Molepolole, the government...

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