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Sharpening Africa’s edge in the diamond sector...
29 Sep, 2025 07:45 180 min read
Finestar, an Indian diamond polishing company, has inaugurated a R300 million facility in South Africa aimed at boosting local skills and ethical diamond trading. The plant employs 46 people, with 29 South Africans trained in polishing. This initiative seeks to strengthen connections with diamond sources and mitigate rising labor costs in India, while also planning to use blockchain for tracking ethically sourced diamonds. It supports local value addition in the diamond sector despite challenges such as high processing costs and political instability. Economist Khumalo emphasizes the importance of ethical, traceable value chains in the industry's gradual beneficiation process.... More