Mineral and Petroleum Resources Minister Gwede Mantashe says his department has established a task team to look into initiatives and steps that could be taken to mitigate challenges faced by diamond producers, due to the influx of laboratory produced diamonds.

In a written parliamentary reply, Mantashe says the Minerals Council and Diamond producers also serve on the task team.

He added that lab diamonds as well as global inflationary pressures are affecting both major and junior producers as well as small diamond miners.

He says small-scale miners are the hardest hit.

The diamond industry globally is under severe pressure, brought on by laboratory produced diamonds that could lead to mines closing and subsequent job losses.

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