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Trading With Diamond And Precious Metals In South Africa South African issues licenses and permits to deal with Diamonds and Precious Metals through the South African Diamond and Precious Metals Regulator (SADPMR) By: Diamond World News Service
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The SADPMR issues diamond licenses and permits such as Diamond Dealers license which allows a license holder to buy, sell import and export rough diamonds. The Diamond beneficiation license which allows you to cut and polish rough diamonds. SADPMR also issues precious metals permits and licenses such as Precious Metal Beneficiation License which allows you to buy or receive, change the form or add value in any other manner and dispose of unwrought or semi-fabricated precious metal and Refining Licences which allows you to buy and receive, smelt, r
Coronavirus impacts Surat s diamond trade
Synopsis
“The migrant workers are going to their hometowns to keep their families. They are taking 10 or 15-day breaks and they will definitely return. Nearly 20 per cent to 25 per cent workers have left. But this is a temporary thing,” said Dinesh Navadiya, regional chairman (Gujarat), GJEPC.
The fear of rising Covid cases has already impacted the diamond trade of Surat. Nearly 25 percent of migrant workers engaged in cutting and polishing of diamonds in Surat have left the city, which has become the epicentre of Covid cases in Gujarat, in the last one week.
There are about 10 lakh workers in diamond trade, of which 4 lakhs are migrant workers who come from the states of Madhya Pradesh, Uttar Pradesh, Rajasthan, Bihar and Jharkhand.
The global diamond trade had spent years in the doldrums, only to be crippled by the pandemic when started looking up. Now, at last, business is booming again.
Factories in the industry’s “engine room” of Surat are so desperate to boost production that the most-skilled cutters and polishers are being head-hunted with offers of 50 per cent pay hikes and perks such as free food and housing. Miner De Beers is poised for its biggest rough-diamond sale in three years, even after raising prices, and rival Alrosa said last week that it expected recovery to keep going on for some time.