Exclusive Interview with South African Diamonds and Precious Metals Board CEO, Louis Selekane
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| South Africa will Become the Diamond Hub of Africa |
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19.02.08, 13:34
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Rough Conference
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South African Diamonds & Precious Metals Board CEO Louis Selekane pointed out that about 50-60 percent of the country’s clients are Israeli.
He noted: “The Diamond Amendment Act focuses on value addition and the spin-offs are enormous. This has not deterred investors of whom there are many from all over the world including some of the biggest mining companies such as BHP and Rio Tinto. He hopes South Africa will become the diamond hub of Africa. South Africa produces 15-16 million carats annually, 90 percent of which is from kimberlite mining and the rest from alluvial.
As far as power shortages are concerned, Selekane said the Chamber of Mines has agreed with ESKOM to a 10 percent power cut and that is more than enough to function.
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By: Sheryl Katz and Rachel Liberman
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