Pluczenik Diamond Company (pronounced ‘Plu-chenik’) has returned to its roots and entered into a partnership with a 100% black-owned local diamond company founded by entrepreneur Kealeboga Pule.
The Belgium company was founded in South Africa by a young and ambitious Isaac Pluczenik, who bought his first sight from De Beers before moving to Antwerp where he built one of the world’s most successful diamond businesses.
The company, which has been a global De Beers sightholder for more than 60 years and has sights in Botswana and Namibia, will now collaborate with Nungu Diamonds headed by North West-based Pule.
“This historic and full circle announcement is not only a reflection of Pluczeniks’ pledge of ploughing back where it all began, but a commitment to increased job creation after the industry was hard-hit due to the Covid-19 pandemic,” says Pule.
“It is also definitely an exciting opportunity, one that is a dream come true for any young person in the diamond industry.”
According to a statement from Pluczenik Diamond Company, it has launched a South African factory called Pluczenik SA in Bedfordview, Johannesburg. It will be led by Pule.
In addition to investing in the South African economy, generating job opportunities and contributing to skills development, Pluczenik says it hopes to bring new technology to the scarce downstream diamond beneficiation sector in SA.
Read: De Beers launches beneficiation project [Jul 2016]
“I have the opportunity to work with a world-class business that has operated for more than 70 years – one that has also been at the forefront of innovation and leadership,” says Pule.
“A partnership such as this is not just good for me, but for the whole industry in South Africa. This partnership is a positive story about diamonds, where black people are not just bystanders but are active parties in the diamond trade from mine to market.
“If you want to operate at the highest level in this trade, one will ideally need to partner with companies that have the pedigree, the history and the balance sheet to help you grow and be impactful – [and] that’s incredibly exciting,” says Pule.
In the words of Pluczenik CEO Chaim Pluczenik: “Our heart has always been in South Africa where my family established the company over 70 years ago. The time is now right for us to have a new cutting and polishing factory in the country to help it meet its beneficiation objectives and support communities in a country where diamonds have a long history and heritage.
“What better way than to partner up with a young local entrepreneur like Pule, who has made great strides within the industry.”
Palesa Mofokeng is a Moneyweb intern.
Denial of responsibility! Swiftheadline is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – email@example.com. The content will be deleted within 24 hours.