The State Diamond Trader is a state-owned entity established in terms of Section 14 of the Diamonds Act 56, 1986, as amended (“the Act”). It operates in the diamond industry with the aim to grow local diamond beneficiation.
The mandate of the State Diamond Trader is to buy and sell rough diamonds and to promote equitable access to and beneficiation of the country’s diamond resources. The entity strives to address distortions created by the country’s historical exclusion of certain population groups from economic participation. It aims to grow South Africa’s diamond cutting and polishing industry by enabling and increasing participation of Historically Disadvantaged South Africans (HDSAs) in the diamond beneficiation industry. The entity is empowered by law to purchase up to 10% of the run-of-mine (ROM) production from all diamond producers in South Africa. It sells to registered customers through an application and approval process.
The State Diamond Trader is a schedule 3B entity in terms of the Public Finance Management Act (PFMA), 1999, as amended.
