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Tag Archives: Diamond

State Diamond Trader (SDT)

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The State Diamond Trader is a state-owned entity established in terms of Section 14 of the Diamonds Act 56, 1986, as amended (“the Act”). It operates in the diamond industry with the aim to grow local diamond beneficiation.

The mandate of the State Diamond Trader is to buy and sell rough diamonds and to promote equitable access to and beneficiation of the country’s diamond resources. The entity strives to address distortions created by the country’s historical exclusion of certain population groups from economic participation. It aims to grow South Africa’s diamond cutting and polishing industry by enabling and increasing participation of Historically Disadvantaged South Africans (HDSAs) in the diamond beneficiation industry. The entity is empowered by law to purchase up to 10% of the run-of-mine (ROM) production from all diamond producers in South Africa. It sells to registered customers through an application and approval process.

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Posted in organisation, S | Tagged Diamond, government

Diamond Dealers Club of South Africa (DDCSA)

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The Club has been formed to foster the interests of the diamond, precious stones and jewellery industries and trade. To provide a meeting place in the manner of an exchange or bourse for the conducting of business amongst members of such industries and trade. To serve as a social meeting place for members and to provide the customary amenities of a social club. To protect the interests of members and to regulate the conduct of members and make rules in regard thereto.

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Posted in club, D | Tagged Diamond, jewellery

South African Diamond Board and Precious Metals Regulator (SADPMR)

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The South African Diamond & Precious Metals Regulator (SADPMR) was established to administer the Diamonds Act, 1986 (as amended) and the Precious Metals Act, 2005 (Act 37 of 2005). One of the core functions of the SADPMR is to facilitate the buying, selling, exporting and importing of diamonds through its Diamond Exchange and Export Centre (DEEC). The DEEC is a secure and controlled environment where goods are offered to other licensees, and plays a vital role in ensuring that unpolished diamond tenders are facilitated fairly to the local market.

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Posted in regulator, S | Tagged Diamond, gems, precious metals

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