SA Mining Minister Unhappy With De Beers

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JOHANNESBURG: South Africa's mining minister has criticised a top official of diamond group De Beers on Friday for reportedly doubting the viability of boosting the local polishing industry.

South Africa and other regional diamond producers have been pressuring De Beers to distribute more rough diamonds locally to create jobs in the polishing and jewellery sectors.


Jonathan Oppenheimer was quoted as telling a presentation that subsidies would be needed to promote the local sector since polishing costs in sub-Saharan Africa were around $70-$100 or between P423 and P605 per carat versus $6-$8 or between P36.3 and P48.4 in India.

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