SA Minerals Minister: Diamond Legislation to be Ready in August

South Africa’s Minerals and Energy Minister, Buyelwa Sonjica, said the State Diamond Trader will be based in Kimberley. During a speech to parliament about the upcoming diamond legislation, she also praised De Beers for helping in creating the SDT.

“The SDT will initially open in Johannesburg but, with time, will move to Kimberley to make Kimberley the real diamond hub of South Africa,” Sonjica stated.

She also expressed appreciation to the Diamond Bourse “for offering the use of the bourse as the Diamond Exchange and Export Centre.”

The Diamond Exchange and Export Centre will monitor the export of diamonds while the SDT would make diamonds available for the diamond beneficiators.

“All these institutions will be in place when the President promulgates these pieces of [diamond] legislation which is expected to be not later than August,” she promised.