The opening of a $14 million cutting facility in the South African port city of East London is expected to provide a welcome boost to the country’s beneficiation strategy, which aims to increase the amount of added value the state derives from its natural diamond resources.
This means that Africa will appreciate a significant economic gain as more money from the sale of the stones will remain in-country. (Historically, communities most negatively impacted by diamond mining receive very little benefit.) Though the company plans to hire only Chinese diamond cutters for the first two years, the plan is to hire and train 150-200 locals for these skilled positions.
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