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future of SA’s diamond industry
21 January 2018
report delves into the diamond mining industry as a growing industry that could
still continue for around three more decades. It explains how diamond mining
gives over 35 000 people jobs which makes diamond mining financially important
to South Africa, and despite it declining, a programme is being set up for beneficiation,
meaning working towards increasing the value of the diamonds being extracted.
This will help historical companies dealing in the diamond industry to improve
profit and wealth. This will the promote sustainability of the industry and
historical development, as well as an increase in export wealth, for employment
and to recover from a “post-mining economy”, such as that of Botswana and even
article, written by a parliamentary reporter for Fin24, aims to outline the
relevance of the diamond industry in South Africa and why it is beneficial to
the economy. It also informs readers as to the lifespan of diamond mining and
why it is so important to use this time while we still have the resource available
to us. Future use and continuation is mentioned, informing readers as to how
the diamond industry will continue to be used to South Africa’s advantage.
investigating the relevance of South Africa’s natural resource base in terms of
diamond mining, this article proves to have relevant information to this topic.
It states areas that are profiting from the diamond industry, such as
employment numbers. It also focuses on what can be done to further develop the
diamond industry in terms of producing them locally in Gauteng, using it to its
fullest potential. In terms of historical development, the article talks of
solutions to help restore diamond companies. The article is centred around the
mining industry in South Africa and the ways in which we can use the industry to
benefit Gauteng, mainly South Africa.
report was written by a parliamentary reporter for Fin24, who studied at the
University of the Witswaterstrand. It includes quotes from Gauteng Premier
David Makhura, as well as Deputy Minister of Mineral Resources, Godfrey
Oliphant, which adds to the reliability and credibility of the article as it is
focused on the diamond industry. Also included are refernces made by the CEO of
De Beers Group, Bruce Cleaver, as well as chairperson, Barend Peterson. De
Beers Group is the worlds leading diamond company.
report, despite outlining the key points about the benefits of diamond mining in
South Africa, is very concise. It does not touch on the costs (in terms of
expenses) of running the diamond industry and how it affects other resources
that are used in the process of extracting the mineral. It is very brief in
terms of its relevance to South Africa’s imports and exports and it would have
been more useful if it had explained in more detail how it impacts or benefits these
fields. The report is also limited in terms of the social aspects of the South
African people as a whole.