SA launches association for young, mainly black entrepreneurs to boost processing and manufacturing of rough diamonds SOUTH Africa has launched an association for young, mainly black entrepreneurs to boost the processing and manufacturing of rough diamonds, the mines ministry said on Tuesday.Manufacturers and middlemen who buy rough stones, polish and resell them to retailers struggle with a stronger dollar and liquidity problems, having to rely on bank loans to cover purchases until they can sell their finished goods.Launched at the first South African Diamond Indaba, the South African Young Diamond Beneficiators’ Guild aims to help start-ups led by mainly black entrepreneurs to cut and polish diamonds.The government in Africa’s second largest economy is pushing to revitalise industrial capacity by encouraging companies to process or add value to minerals — a process referred to as "beneficiation" locally — before exporting them.Processing diamonds could help ease unemployment whic...

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