Diamonds.net:
Industry leaders estimate that the number of cutters employed in South Africa has fallen to about 900, down from last year’s count of about 1,200. Ernie Blom, president of the Diamond Dealers Club, which represents the local industry at the World Federation of Diamond Bourses (WFDB), reasoned that the workforce has dwindled due to a combination of insufficient training, an aging skilled labor force, and competition from other centers in the region, particularly Botswana.
These are all valid. However, Blom and others stress that fewer goods are being supplied to sustain the local factories. This scenario became most evident when De Beers Diamond Trading Company (DTC) announced in December 2011 that it is cutting the number of its South African sightholders from 14 to 10, effective from next month’s April sight. In addition, De Beers is expected to supply fewer goods to those successful sightholders as the company continues to shift its focus toward Botswana (see Editorial “Moving DTC” published on March 16, 2012).
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