Some religious beliefs identify diamonds as the tears of God - that's how important they are. Diamond sales are lucrative globally, and South Africa over the years has supplied the world with many of these exquisite stones.
We are pleased that this Bill serves to develop a local beneficiation industry and shall allow new entrants, dealers, cutters and polishers to participate in the diamond industry. We hope that the identification of a need for more polishers and cutters would stimulate growth employment and interest in this arena.
The export levy shall harness control over the export of rough diamonds and encourage local beneficiation. The MF believes that the State Diamond Trader shall further manage and control the industry. We believe that the Bill has encouraged a fair discharge of the tax burden between role players.
The MF voices its support to end the trade of blood diamonds globally. We call on the House to secure the diamond industry from this inhumane and illegal trade. The MF supports the Diamond Export Levy Bill. I thank you.