Source of people but in the more recent years,

Source
4

Author

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Date or update

Title of article

Title of homepage

URL

Date accessed

Yolandi Booyens

8 June 2012

South Africa’s diamond industry no
longer sparkling

Mining Weekly

http://www.miningweekly.com/print-version/south-africas-diamond-industry-no-longer-sparkling-2012-06-08-1

27 January 2018

 

Summary

The
article deals with how the creating of jobs and wealth for the economy faces
difficulties as diamond mining is no longer creating profit or job
opportunities like it once was. Companies dealing in the buying of diamonds can
lose profits as diamonds cannot be seen before they are purchased. Less than a
third of diamond polishers are still working, compared to six years ago. However
other countries such as Botswana have booming industries far exceeding our own.
The local industry is also not receiving help from the government to enter into
the international market for exports to help the economy. To ensure
sustainability and continuity of diamond mining, the government must be
motivated to help the industry recover and grow. Most of the diamonds are being
exported and therefore jobs are not being created locally.

Purpose

The
purpose of the article is to inform readers that diamond mining is not as
profitable for the country as it used to be and that it faces a lot of
difficulties, especially the government not doing anything to improve and
develop the industry to benefit the economy. It also gives insight into what
needs to be down to ensure that diamond mining will be profitable. The article
often mentions that jobs have been lost, but if there is sustainability of the
industry, we will be able to reverse this.

Value

The
article contributes to understanding of the research subject in that it
presents an opposing view. It talks about how the diamond industry employed a
great number of people but in the more recent years, numbers have declined and
profit has been lost. The article mentions what can be done to reverse this as the
industry is important for creating jobs and helping our economy.

Reliability

The
article is from Mining Weekly, a journal focused on the mining industry, making
the information within the article more reliable. The article also contains
comments made by the CEO of African Romance, a diamond polishing company, which
increases its reliability. Statistics are also included within the text.

Limitations

Although
the article does talk about jobs and exports in terms of international markets,
it is very brief in that it does not go into enough detail as to why the
diamond industry is important to South Africa. The article only goes into
detail about the negative aspect of diamond mining, in terms of it no longer
being as important as it once was to the economy.