From 2,000 companies to 11: How ANC policy is killing South Africa's 160-year diamond industry

From 2,000 companies to 11: How ANC policy is killing South Africa's 160-year diamond industry

South Africa's diamond mining industry, which sparked the country's entire industrial economy 160 years ago, is approaching final-stage collapse. The DA Shadow Mining Minister, James Lorimer, explains below how the alluvial sector has shrunk from 2,000 companies and 25,000 workers to just 11 operators employing fewer than 1,000 people since the MPRDA was enacted in 2004. Petra Diamonds' decision to place Finsch into business rescue leaves SA wit…