Author the relevance of South Africa’s natural resource base

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Lameez Omarjee

13
July 2016

Beneficiation the
future of SA’s diamond industry

Fin24

https://www.fin24.com/Economy/beneficiation-the-future-of-sas-diamond-industry-20160713

21 January 2018

Source
1

 

Summary

This
report delves into the diamond mining industry as a growing industry that could
still continue for around three more decades. It describes the industry gives
over 35 000 people jobs which makes diamond mining financially important to
South Africa, and despite it declining, a programme is being set up for beneficiation,
meaning working towards increasing the value of the diamonds being extracted.
This will help historical companies dealing in the diamond industry to increase
profits. This will the promote sustainability of the industry and historical
development, as well as an increase in export wealth, for job opportunities and
to recover from a “post-mining economy”, such as that of Botswana and even
India.

Purpose

This
article, written by a parliamentary reporter for Fin24, aims to outline the
significance of the diamond industry in South Africa and why it is beneficial
to the economy. It also informs readers as to the lifespan of diamond mining
and why it is so important to use this time while we still have the resource
available to us. Future use and continuation is mentioned, informing readers as
to how the diamond industry will continue to be used to South Africa’s
advantage.

Value

When
investigating the relevance of South Africa’s natural resource base in terms of
diamond mining, this article proves to have relevant information to this topic.
It states areas that are profiting from the diamond industry, such as
employment numbers. It also focuses on what can be done to further develop the
diamond industry in terms of producing them locally in Gauteng, using it to its
fullest potential. In terms of historical development, the article talks of
solutions to help restore diamond companies. The article is centred around the
mining industry in South Africa and the ways in which we can use the industry to
benefit Gauteng, mainly South Africa.

 

Reliability

The
report was written by a parliamentary reporter for Fin24, who studied at the
University of the Witswaterstrand. It includes quotes from Gauteng Premier
David Makhura, as well as Deputy Minister of Mineral Resources, Godfrey
Oliphant, which adds to the reliability and credibility of the article as it is
focused on the diamond industry. Also included are refernces made by the CEO of
De Beers Group, Bruce Cleaver, as well as chairperson, Barend Peterson. De
Beers Group is the worlds leading diamond company.

Limitations

The
report, despite outlining the key points about the benefits of diamond mining in
South Africa, is very concise. It does not touch on the costs (in terms of
expenses) of running the diamond industry and how it affects other resources
that are used in the process of extracting the mineral. It is very brief in
terms of its relevance to South Africa’s imports and exports and it would have
been more useful if it had explained in more detail how it impacts or benefits these
fields. The report is also limited in terms of the social aspects of the South
African people as a whole.