De Beers takes department to court (reluctantly) over rough diamond exports
De Beers has taken the Department of Mineral Resources to court to contest the halting of its rough diamond export exemption, but the Anglo American subsidiary has started a parallel process with the department to prevent the matter from being argued in court. "De Beers confirms that it has approached the Pretoria High Court regarding the matter of its Section 74 rough diamond export exemption," the world’s largest producer of rough diamonds said in a statement. "Parallel to the court proceedings, De Beers is also continuing to seek a solution through engagement directly with the Department of Mineral Resources for the long-term benefit of the South African diamond industry. As this is a matter that is before the court, it would be inappropriate to comment further." The impasse relates to the export of rough diamonds to Gaborone, the capital of Botswana, where De Beers sends all its diamonds for aggregation and sorting for sale to about 80 hand-picked clients 10 times a year. In ter...
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