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The State Diamond Trader

The State Diamond Trader aims to promote diamond beneficiation through key interventions and collaborations, contributing to industry growth and capacity building. Learn about its strategic objectives and progress.

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The State Diamond Trader

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  1. The State Diamond Trader Annual Performance Plan 2013 – 2014

  2. State Diamond Trader: Mandate To promote the diamond beneficiation industry through research and development

  3. State Diamond Trader: Vision Be a catalyst for the transformation and growth of the local diamond beneficiation industry

  4. State Diamond Trader: Mission • Ensure acquisition of and equitable access to rough diamonds with particular focus on HDSAs • Promote the growth of the diamond beneficiation industry through relevant interventions • Establish and maintain a transformed client base of local diamond beneficiators

  5. Strategic Objectives 2013 - 2014 • Contribute to the growth of the local diamond beneficiation industry • Develop efficient means to market diamonds not suitable for local beneficiation • Develop and acquire appropriate Human Resource capacity

  6. Strategic Objectives: 2013 - 2014 In order to contribute to the growth of the industry, SDT has agreed to execute the following main activities: • Develop and implement marketing and industry promotion strategy • Establish collaborations with relevant skills development State institutions Key Activities:

  7. Strategic Objectives: 2013 - 2014 • Facilitate relevant capacity building for HDSA and small beneficiators • Contribute to the development of a regional trading hub

  8. State Diamond Trader: background • The State Diamond Trader (SDT) was established in July 2007 - Diamond Second Amendment Act, 29 of 2005 • SDT is a schedule 3B government business entity • SDT does not receive funding or transfers from the fiscus • To start its operations, the SDT received loan funding from the IDC and continued for trading purposes • Staff were seconded from DMR and De Beers

  9. State Diamond Trader: background • SDT had to make profits from its diamond sales to build up financial reserves to sustain itself • Currently has filled some permanent positions and increased the number of diamond valuator trainees • The first Board term ended in September 2012 and the new Board term is for three years to September 2015 • It now has its own permanent employees together with four seconded from De Beers

  10. State Diamond Trader: Progress • For three years, SDT implemented its special training programme in diamond sorting and valuation • Programme has resulted in some being employed at the SDT, while others are still in training • Several programmes established to build the capacity of HDSA clients have been implemented

  11. Past Five Year Performance Overview

  12. Budget and Performance • While the SDT does not have an allocated budget, its budget is aligned to its objectives of contributing to the growth of the diamond beneficiation industry. • It caters for appropriate skilling of its staff while also catering for the facilitation of capacity building for HDSA and small clients

  13. State Diamond Trader: Progress • Its budget strategy is aligned to its Strategic Objectives which enables it to carry out the necessary activities to achieve the Objectives • As the available funds are not sufficient for the work required to grow the industry, the SDT plans to establish partnerships with industry stakeholders

  14. Budget and Performance • The SDT does not have any significant capital investment plan in the short term • The SDT is already benchmarking against some of the outcomes of the NDP and aligning with those of DMR • As the Beneficiation Strategy gets implemented, the SDT will contribute to its goals and thereby to NDP outcomes relevant to its business and mandate

  15. Budget for 2013-2014

  16. Budget for 2013-2014 • State Diamond Trader is budgeting to have the following as at the year end March 2014: • Book Value Assets 1 573 520 • Retained Income 29 649 704 • Cash in the Bank 28 795 075

  17. The State Diamond Trader

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