Economy

SA diamond industry shifts focus to beneficiation, economic growth

Date: Feb 27, 2025

South Africa’s (SA) diamond industry is undergoing a transformative shift, moving beyond raw extraction towards long-term economic sustainability.

Beneficiation, the process of refining and adding value to raw diamonds, is at the heart of this evolution, aiming to foster job creation, drive innovation, and empower local artisans to compete on a global scale.

By strengthening the entire diamond value chain, from mining to cutting, polishing, and jewellery design, beneficiation is unlocking new opportunities for sustainable economic growth and entrepreneurship in the country.

One key initiative highlighting this progress is the Shining Light Awards, launched by De Beers, which showcases the immense talent within SA diamond sector.

Speaking to Channel Africa on Thursday about the significance of beneficiation, Richard Steenkamp, Senior Sales and Office Manager at De Beers Sight emphasised that the industry is evolving beyond simply transforming raw materials.

“True beneficiation is about developing an entire value chain that supports sustainable economic growth locally. We are looking at both direct and indirect opportunities that arise from diamonds and ensuring that the industry creates long-term benefits for the country,” he stated.

SA has long been a leader in diamond mining, but the country has traditionally relied on external markets for cutting and polishing. Efforts are now focused on developing these skills locally. While SA has expertise in mining and polishing, cost challenges have historically limited its competitiveness in some areas.

“The skills are there, but we are accelerating the transformation to include historically disadvantaged South Africans in cutting, polishing, and jewellery design,” Steenkamp noted.

De Beers has introduced enterprise development programmes and training initiatives aimed at fostering inclusion in the sector, providing emerging jewellers with access to global markets.

The Shining Light Awards, established in 1996, have played a pivotal role in identifying and nurturing new talent in jewellery design. Winners receive global exposure, with past recipients benefiting from training opportunities at prestigious institutions in Milan. Alumni such as Bhekani Ngema, who went on to establish his own jewellery store in Pretoria, demonstrate the tangible impact of such initiatives.

For long-term sustainability, local consumers and businesses are encouraged to support SA-made jewellery.

“By buying locally manufactured diamond jewellery, we can create much-needed market access for emerging enterprises,” Steenkamp urged.

“SA is a globally renowned diamond hub, and we must take pride in supporting our own industry.”

--ChannelAfrica--

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