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Manufacture of Jewellery and Related Articles
South Africa is one of the largest producers of gold, diamonds and platinum in the world. Despite the wealth of these resources, its jewellery manufacturing industry remains small. Jewellery manufacturer’s sales grew 4.1% to R5.3bn in 2017/2018. Although many initiatives have been implemented to encourage competitiveness and to increase beneficiation, growth is hampered in this highly regulated industry by the lack of new entrants, a shortage of skilled labour, challenging trading conditions and a growing and more efficient industry in other countries.
The jewellery manufacturing industry is becoming increasingly automated and sophisticated technology and machinery is increasingly used in the industry, including for grading of diamonds, sorting, measurement, cutting and polishing. Blockchain technology is being used to secure the diamond pipeline using tracking programmes such as Tracr, Everledger, TrustChain and Clara. The jewellery industry in South Africa also has a strong online presence, although buyers continue to prefer to shop in-store, using the internet primarily as a tool to gather information.
This report focuses on the manufacture of jewellery and related articles in South Africa. It includes information on the state of the industry and the factors influencing its success, as well as information on continental and global trends. There are comprehensive profiles of 21 companies including significant players in which Anglogold Ashanti has a stake, Oro Africa and Rand Refinery. The South African Mint and a number of mint companies are profiled, as well as manufacturer/retailers such as Shimansky, Browns The Diamond store and Taste Holdings Luxury Goods Division, which owns NWJ and Arthur Kaplan.