NOZALA DIAMONDS

        
Nozala Diamonds is a diamond cutting and polishing company that sources its rough diamonds  locally. Once the stones have been beneficiated they are traded globally.

TECHNICAL PARTNERSHIP

Nozala Diamonds is an associate of Nozala Investments (Pty) Ltd (“Nozala”). The share holders of Nozala Diamonds are:

• Nozala led consortium owns 40% of Nozala Diamonds
• LKI 50%

LKI is the technical and marketing partner based in the United States and is listed on the New York stock exchange.

BOARD

The board of directors of Nozala Diamonds are:

• S Dakile-Hlongwane (Chairperson)
• N Mokone
• H Tyler
• C Merkling (US)
• L Templesman (US)
• J Barnes (US)

THE OPERATION

Nozala Diamonds sources its rough diamonds from De Beers as an accredited “sight”  holder. The operation is run on a day-to-day basis by a black female Managing Director, with two master cutters and a sawer/cutter.

Thirty (30) polishers based at the factory, have been trained by Nozala Diamonds. The reason for this investment was to train black females from historically disadvantaged backgrounds, principally from rural areas, to begin breaking new ground in this industry. All these trainees are now fully qualified cutters and polishers of Nozala Diamonds.

The operation initially outsourced most of its sight production. It now has its own fully fledged production line and handles an increasing portion of the sight production.

To date, Nozala Diamonds has produced approximately 5000 carats worth US$23m.

ADHERENCE TO THE REGULATORY ENVIRONMENT

Nozala Diamonds established a number of committees whose mandate is to ensure adherence to the regulatory environment. These include:

• Employment  Equity
• Health and Safety
• Skills development

DTC Global Audit

Nozala Diamonds participated in a world -wide audit that has recently been completed by the Diamond Trading Company testing and evaluating Best Practice Principles in the industry. These principles focus mainly on:

• Labour policies
• The Kimberely  Process
• Money Laundering
• Health and Safety

 Nozala Diamonds was found to have complied with all of its standards and requirements.

 

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Nozala Investments is a broad-based women's investment company | Last updated on 03/08/2009