The desire of the South African government is that world number one diamond miner De Beers move its marketing arm, the Diamond Trading Company (DTC), from its base in London to Southern Africa, South African Minister of Minerals and Energy Phumzile Mlambo-Ngcuka said on Monday.
”We have shared this desire with De Beers. I don’t think it is opportune at this point to talk about whether this will happen or not,” Mlambo-Ngcuka said.
”We think we are competent enough in Southern Africa to provide the services that the DTC provides in London. Those people who are importers of diamonds must come and buy their diamonds here and spend their money here,” Mlambo-Ngcuka said.
About 50% of the world’s diamonds are mined in the Southern Africa countries of South Africa, Botswana, Namibia and Angola. Tanzania is also a diamond miner.
De Beers has diamond mining interests in South Africa, where is has seven diamond mines, Botswana, Namibia and Tanzania. In its 2004 financial year, De Beers’ diamond production was 47-million carats. – Sapa