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SOUTH AFRICAN DIAMOND BOARD. PARLIAMENTARY PORTFOLIO COMMITTEE MINERALS & ENERGY 06 JUNE 2001. SOUTH AFRICAN DIAMOND BOARD. CONTENTS 1. CONTRIBUTIONS INTO THE MDDB 2. STATUS SECTION 59 AGREEMENTS 3. SETTLEMENT AGREEMENT WITH DVIC 4. CONFLICT DIAMONDS (Kimberley Process)

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south african diamond board

SOUTH AFRICAN DIAMOND BOARD

PARLIAMENTARY PORTFOLIO COMMITTEE

MINERALS & ENERGY

06 JUNE 2001

south african diamond board1
SOUTH AFRICAN DIAMOND BOARD

CONTENTS

1. CONTRIBUTIONS INTO THE MDDB

2. STATUS SECTION 59 AGREEMENTS

3. SETTLEMENT AGREEMENT WITH DVIC

4. CONFLICT DIAMONDS (Kimberley Process)

5. RECAP ON THE 2ND AUGUST 2000 PRESENTATION

6. BUDGET OBJECTIVES 2001/2002 FIN. YEAR

contributions into the mineral development draft bill
CONTRIBUTIONS INTO THE MINERAL DEVELOPMENT DRAFT BILL
  • CONSULTATIVE PROCESSES HELD WITH MEMBERS OF THE INDUSTRY IN ORDER TO FACILITATE THEIR PARTICIPATION
  • SOUTH AFRICAN DIAMOND BOARD FULLY ENDORSES THE OBJECTIVES ENSHRINED ON THE BILL
status of s59 agreements
STATUS OF S59 AGREEMENTS
  • ONLY TWO PRODUCERS HAVE SIGNED AGREEMENTS WITH THE BOARD, I.e Transhex & De Beers
  • THE AGREEMENT BETWEEN THE SADB , DE Beers and The DTC REMAINS VALID
  • A COMPREHENSIVE REVIEW AND EVALUATION OF HOW ALIGNED THESE AGREEMENTS ARE TO GOVERNMENT POLICY REMAINS OUTSTANDING
out of court settlement with dvic valuation pty ltd
OUT-OF-COURT SETTLEMENT WITH DVIC Valuation (Pty) Ltd
  • MINISTERIAL INTERVENTION IN THE LONG DRAWN CASE
  • NUMBER OF SESSIONS CONVENED BY THE CHAIRPERSON OF THE BOARD
  • AMICABLE SETTLEMENT REACHED COVERING ALL CLAIMS THAT DVIC VALUATIONS (PTY) LTD HAD AGAINST THE SOUTH AFRICAN DIAMOND BOARD
  • DECISION TO RETIFY TAKEN BY THE BOARD
conflict diamonds
CONFLICT DIAMONDS
  • THE BOARD REMAINS INTRINSICLY INVOLVED AND SUPPORTIVE OF THE KIMBERLEY PROCESS THAT IS BEING HEADED BY THE DEPARTMENT OF MINERALS AND ENERGY
  • IN SUPPORT OF THE PROCESS, FOR THE FINANCIAL YEAR 2001/2002 THE BOARD HAS BUDGETED FOR THE OPENING OF AN OFFICE IN THE NORTHERN CAPE IN ORDER TO CLOSELY MONITOR TRADE IN THAT PROVINCE
recap on the 2nd august 2000 presentation
RECAP ON THE 2ND AUGUST 2000 PRESENTATION

TRANSFORMATION IN THE DIAMOND INDUSTRY - 2000 to 2001

  • STAFF COMPLEMENT
  • COMPOSITION OF THE BOARD
recap on the 2nd august 2000 presentation1
RECAP ON THE 2ND AUGUST 2000 PRESENTATION

CORPORATE GOVERNANCE IN THE SOUTH AFRICAN DIAMOND BOARD

  • OUR LAST PRESENTATION HIGHLIGHTED A NUMBER OF PROBLEMS PERTAINING TO CORPORATE GOVERNANCE
  • COMPOSITION OF THE BOARD REMAINS THE GREATEST CHALLENGE IN ACHIEVING GOOD CORPORATE GOVERNANCE
  • THE BOARD HAS HOWEVER ADOPTED A DETAILED CORPORATE GOVERNANCE MANUAL
  • COPIES THERE-TO ARE AVAILABLE FOR MEMBERS PERUSAL
recap on the 2nd august 2000 presentation2
RECAP ON THE 2ND AUGUST 2000 PRESENTATION

EMPOWEREMENT IN THE DIAMOND INDUSTRY

  • MEANINGFULL EMPOWEREMENT REMAINS NEGLIGIBLE
  • NEW BLACK SIGHTHOLDER ENCOURAGING
  • MININGFULL BLACK DIRECTORSHIP OR PARTNERSHIP STILL LACKING
  • THE BOARD RECENTLY ESTABLISHED A COMMITTEE TO LOOK INTO THIS ISSUE AND REPORT BACK
recap on the 2nd august 2000 presentation3
RECAP ON THE 2ND AUGUST 2000 PRESENTATION

THE ROLE OF AN INDIPENDENT VALUATOR OF DIAMONDS

  • SOUTH AFRICAN DIAMOND INDUSTRY REMAINS VERY COMPLEX
  • THERE ARE STILL CONCERNS WHETHER OR NOT THE STATE RECEIVES A FAIR SHARE OF WHAT IS DUE TO IT BY THE INDUSTRY REMAINS QUESTIONABLE
  • GOVERNMENT STILL REQUIRES AN EXPERT OPINION WHETHER OR NOT DIAMONDS LEAVING THE COUNTRY ARE FAIRLY VALUED
  • EXPERTISE WITHIN GOVERNMENT REMAIN FAIRLY LIMITED
recap on the 2nd august 2000 presentation4
RECAP ON THE 2ND AUGUST 2000 PRESENTATION

A “FUNCTIONAL” DIAMOND BOARD OFFICE

  • ADHERENCE TO THE CORPORATE GOVERNANCE MANUAL REMAINS KEY TO A FUNCTIONAL BOARD
  • RESTORATION OF THE ROLE & RESPONSIBILITIES OF THE EXECUTIVE MANAGEMENT REMAINS CRUCIAL TO A FUNCTIONING BOARD
  • TERMS OF REFERENCE COMMITTEES OF THE BOARD AND MEMBERS THEMSELVES REMAIN THE ONLY SOLUTION TO A FUNCTIONAL BOARD
budget objectives for 2001 2002 financial year
BUDGET OBJECTIVES FOR 2001/2002 FINANCIAL YEAR
  • INCREASED EFFICIENCY AND QUALITY SERVICE DELIVERY TO OUR CLIENT BASE (I.e INDUSTRY AND GOVERNMENT)
  • REASONABLE PRESENCE AND ACCESSIBILITY OF OUR SERVICE IN AREAS OF HIGH TRADING ACTIVITY
  • IMPROVE WORKING RELATIONS WITH OTHER STATE FUNCTIONARIES
  • CONTINUED IMPROVEMENT IN MANAGING RESOURCE OF THE STATE
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