10
Apr
Niël Terblanché The global diamond industry is encountering unprecedented challenges, with significant impacts on countries like Namibia that are reliant on diamond exports for vital foreign revenue. The Minister of Mines and Energy, Tom Alweendo highlighted these concerns during a parliamentary budget speech. He emphasised the declining global demand and highlighted the potential risk posed by the G7's new regulatory stance on the diamond trade. The G7/EU sanctions regime is based on technological traceability and has set forth import restrictions on Russian diamonds, impacting the trade of rough and polished diamonds of any size imported directly or via third countries…