Tuesday, 13th May 2008 (520 views)

A new factory dedicated to the production of gold jewellery is to be established in South Africa's "city of diamonds" Kimberley, it has been reported.

State news service BuaNews stated that around 100 million South African rand (£6.74 million) will be invested in developing the site by the country's Industrial Development Corporation.

Partners involved in the scheme include the Northern Cape provincial government, black economic empowerment firm Solandra and Italian company Q-Quality, which will help with training, skills and access to markets.

Around 300 people will be employed at the manufacturing plant by 2012, the service said, with around three tonnes of gold scheduled to be processed there once it reaches full capacity.

In a statement to the news agency, the Northern Cape premier's office said production would focus on chain jewellery for the export market, "specifically the United States".

Abel Malinga of IDC's mining strategic business unit commented: "This is a key opportunity for facilitating empowerment in the jewellery manufacturing sector, while continuing regional development among the poorest communities in this country."

According to figures from GFMS, South Africa is now the world's second-largest gold producer behind China.

 

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