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South Africa Bets on Natural Diamonds in Face of Lab-Grown Surge
South Africa Bets on Natural Diamonds in Face of Lab-Grown Surge
Sputnik Africa
South Africa Bets on Natural Diamonds in Face of Lab-Grown Surge 08.08.2025, Sputnik Africa
2025-08-08T17:07+0200
2025-08-08T17:07+0200
2025-08-08T17:33+0200
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South Africa Bets on Natural Diamonds in Face of Lab-Grown SurgeThe cabinet approved participation in international agreements to promote South Africa's natural diamonds' industry, supporting economic growth and job creation, the government said in a statement.For this purpose, diamond companies will be required to contribute a 1% levy of their annual rough diamond sales revenues, the statement pointed out.South Africa, the world's sixth-largest diamond producer, saw output fall 9.36% in 2024, according to the Kimberley Process annual statistics.
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South Africa Bets on Natural Diamonds in Face of Lab-Grown Surge
17:07 08.08.2025 (Updated: 17:33 08.08.2025) South Africa Bets on Natural Diamonds in Face of Lab-Grown Surge
The cabinet approved participation in international agreements to promote South Africa's natural diamonds' industry, supporting economic growth and job creation, the government said in a statement.
For this purpose, diamond companies will be required to contribute a 1% levy of their annual rough diamond sales revenues, the statement pointed out.
South Africa, the world's sixth-largest diamond producer, saw output fall 9.36% in 2024, according to the Kimberley Process annual statistics.
"Lab-grown diamonds are eating into our dinner. […] I'm very convinced that the marketing of natural diamonds is a necessary intervention," Mineral Resources Minister Gwede Mantashe stated at this week's meeting with the diamond industry stakeholders.
