Changing Inequalities in the Diamond Industry
“I am very optimistic about the future of this industry,” says Paul Ekon, emerging talent and fresh voice in the revival of the world diamond business. For an industry that has been hit harder than many in the global downturn, these encouraging words indeed. While all companies can be represented as political figures, it is hard to imagine a more highly than those of the South African diamond-free community.
What has a limit of exploration in the 1870s, contributing to a multi-billion-dollar industry to the economic and political growth of many South African communities form the backbone. Diamonds that are once concentrated and monopolized now host to a much more extensive network of entrepreneurs and local governments try, especially in the last decade to benefit the communities better by a still tightly controlled market. “Although several companies essentially still control the majority of companies, things begin to evolve socially, beyond the mere margins - but it takes time. As has been Sierra Leone and the illegal trade and traffic of the jewels are exposed worldwide, has it since a new sense of social responsibility of the emerging markets in this industry. “What Ekon refers is the illegal” Blood Diamond “is used trade, guerrilla factions warring parties have to terrorize and decimate local communities for decades. But since the Kimberley Process was established, certified fair-trade diamonds in 2003, things have changed for the better, although many in the industry feel that much more needs to be done.
The bee, or the Black Economic Empowerment initiative has been tried, the inequality inherent problems in the mining industry for the last decade of legal protection. Since 2001, has doubled black representation in managerial positions in the industry over and under the Mining Weekly is close to 30%. Of course, the recession has slowed the initiatives for women and blacks, but now things start, rebound. Sandra Burmeister, CEO of Landelahni, in conversation with Mining Weekly, recently suggested that “should the training and development at the graduate level,” and “Start skills development and employment equity, both of fundamental importance for the company’s success.
But recently, it was also known that black ownership in the mining industry is still well below targets set five years ago, causing some to speculate that the diamond industry be nationalized, together with other potentially. The balance of the economy, community and social responsibility is still difficult to achieve, especially in such lucrative and tightly controlled sector.
Paul Ekon, after helping to set up charitable organizations, the poor communities of Soweto believes more companies should be called to account for the support of their local environment, this feeling was also reflected by an unknown insider industry, commenting on a leaked document (ca . industry inequality) in a recent news piece Miningmx “The companies are obliged to prove their own efforts in the improvement of a mining community. This has to do the same things for many companies, rather than led the pooling of resources and addressing a larger number of community needs. ”
What this means is that back in spite of the recession, the diamond industry need to have seen the growth in the last six months have, and at the same time to continue their initiatives, equality before several years ago. There must be a way to make a positive impact on the immediate environment and continue to thrive in this evolving industry, but like all businesses, it is a balancing act that takes commitment of companies, both profit and social responsibility in equal measure.
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