South African Diamond & Presious Metals Regulators Unclaimed

The South African Diamond Board was established in 1987 in terms of the Diamond Act, Act 56 of 1986 to regulate control over possession, the purchase, and sale of diamonds, the processing and the export of diamonds. During 2007 three pieces of legislation, namely; the Diamond Amendments Act, Act 30 of 2005, the Diamond Second Amendment Act, Act 30 of 2005 and the Precious Metals Act, Act 37 of 2005 were promulgated thereby broadening the legal mandate of the Board to also regulated precious metals.