Mining Weekly reports that DBCM previous year received such privileges.
However, the minister said that he refused to provide favorable conditions. According to him, De Beers «exceeded all the legal criteria for its application for exemption from payment of tax on the 2017/18 (financial) year, and never misses an opportunity to exemption from the entry into force of such a decision in 2008".
Diamonds produced by De Beers in South Africa, as well as in Botswana, Namibia and Canada, are aggregated in Botswana.
After the aggregation is completed, the rough diamonds to a higher value then re-imported in producing countries, South Africa including, for cutting.
About 40% of the diamonds mined in South Africa, De Beers company, transferred to local cutters to provide a tax exemption under section 74 of the Law on diamond exports.
It is reported that the South African De Beers sight holders provide more than 300 direct jobs at its plants in diamond cutting, which is 80% of the total number in this sector in South Africa.
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Sierra Diamonds said it plans to invest $ 25 million in large-scale project for underground mining of diamonds in Sierra Leone, if the National Agency for Mineral Resources approved the company's license to start work on Tonga (Tongo).
Awoko newspaper reports that the Sierra Diamonds, a subsidiary of Stellar Diamonds, has for some time conducts exploration in Sierra Leone.
According to the research company, the diamond resources of the new project is 1.45 million carats, and the life of the mine - 18 years of intensive underground mining.
"Production will be carried out on three underground mines length of 650 m each This length can vary depending on local variations in height from the surface and the length of the strike in a separate section of the dike, where it breaks into the eastern end of the field." - said CEO Karl Smithson (Karl Smithson).
"Production at each of the three mines will start from the center 650-meter tunnel. At the mines will also be arranged lifts. A total of 6 lifts will be created in the opposite direction of the tunnel", he added.
Smithson also noted that the preliminary economic assessment to determine the company's future investment policy Tongo project was undertaken.
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