The closure of the Finsch Diamond Mine in the Northern Cape has left local business owners in dire financial straits.

Assets worth billions of rands will be sold off. This comes after the business rescue plan was approved. The mine says it has been facing growing pressure on the natural diamond market amid the growing popularity of manufactured diamonds.

It still owes contractors and workers money. Business owners say the mine’s closure came as a total shock.

One business owner says, “The mine is owing me more than half a million. As yet, the mine did not give me any end of termination. I don’t know where I stand with them; my staff is still waiting for their money.”

Another says,”It has affected us badly, so even before the closure, there was no notification from the mine. We are their supplier. I have got a contract with them, so they buy food from us. In that week, we ordered food worth R50 to R60 000; now you can imagine I am sitting with that.”

“The mine is approximately fifty percent of our turnover and we have already seen a drop to thirty percent of our turnover,” adds a third business owner.

VIDEO | Finsch Mine assets to be sold


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