Gov’t, De Beers team up to battle G7 plan

Partners: Cook, Masisi and Moagi at the Natural Diamonds Summit on Monday PIC: DE BEERS
Partners: Cook, Masisi and Moagi at the Natural Diamonds Summit on Monday PIC: DE BEERS

Government and De Beers have joined forces to fight off a proposal by the world’s richest countries that Minerals and Energy minister, Lefoko Moagi describes as “market swallowing”.

The Group of Seven (G7), which comprises the United States, the United Kingdom, the European Union and other industrialised states, has proposed tough new rules to stop Russian stones from entering the global diamond industry. Russia is the world’s largest producer of rough diamonds by volume and while the United States long imposed sanctions due to the invasion of Ukraine, Moscow’s diamonds continue to freely trade in the market and into the US.

The loophole, according to Belgian research firm, IPIS, is that Russian diamonds are cut and polished in India, whose firms handle 90% of the global diamond supply.


Editor's Comment
Women in Politics caucus NGO, a welcome development

In the 2014 General Election, women who stood for parliamentary elections were a mere 17 out of a total of 192 aspirants, and sadly the number dropped to 11 out of 210 parliamentary aspirants in the 2019 General Election. Hopefully, registration of the Women in Politics Caucus will give women the necessary support to join politics. While things were slowly improving, women for a long time were at the receiving end as compared to their male...

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