Diamond Producing in South Africa Essay Example | Topics and Well Written Essays - 1000 words

rhomb Producing in atomic number 16 Africa - Essay ExampleThe UK-based company owns stakes in leading global producers of specie (42%, AngloGold Ashanti), platinum (75%, Anglo Platinum), and diamonds (45%, De Beers Consolidated). In addition, Anglo American has interests in paper and packaging goods (more than 20% of sales), ferrous and base metals, and industrial minerals. It also is one of the worlds largest independent coal miners. The company controls assets around the world. Descendants of the founding Oppenheimer family no continuing control Anglo American, although Nicky Oppenheimer, who chairs De Beers, sits on the companys board.How western democracies have supplied arms, created a state of lawlessness, and taken advantage of the escalating confusion to pinch away more mines. When tension is high massive looting is coordinated at extremely sightly rates.Increased beneficiation or downstream value added by the diamond industry has become an important discern for the So uth African government in recent years Though diamonds are beneficial thither are also shortcomings of the trade.The United States is heavily dependent upon South Africa for key minerals including chrome, manganese, vanadium and platinum. Though two decades old, the following /New York Times/ report highlights not only U.S. dependence on South African strategic minerals, but its vulnerability to any future Russian-South African blockade. Written at the time of sanctions against South Africa in the apartheid era, the5. Regulatory issuesA new Diamond Act became effective in 2000. The Act provides for the initiation of a Diamond Board and spells out its objectives, powers, duties and functions. The Act also provides for control measures in respect of the possession, bribe and sale, as well as the processing and the import and export of diamonds. 6. Security issuesThe trade in adulterous and conflict diamonds in South Africa is a complex issue. There is emerging evidence, however, t hat there is an extensive illegitimate trade in domestic rough diamonds, and in conflict diamonds. This same type of trade has take into wars in diamond producing countries