About SSC Diamond
SSC Mandarin Diamond Mining Limited ("SSC Diamond") engages in upstream exploration, mining and sales of rough diamonds recovered from Kimberley, the “Diamond City of the World” in Northern Cape Province of South Africa. The Company owns and operates two diamond mines, namely Frank Smith and Loxton Dal, both located within the reputable Kimberley District.
The mining subsidiary of SSC Diamond is 74%-owned, with the remaining 26% shareholders being qualified black economic empowerment entities in terms of the Mining Charter of South Africa. Since 2011, SSC Diamond has made substantial investment in the two diamond mines in achieving full-scale surface and underground operations by 2023
OUR OBJECTIVES
SSC Diamond has strategically positioned themselves to feed into and benefit from the rapid economic growth of the BRICS countries; our objective is to become a world-leading integrated diamond company which offers a unique growth opportunity by producing diamonds from South Africa and delivering quality diamond products to Hong Kong, China and India. To this end we continue to build strong, lasting alliances with the polishing, wholesale, trading and technology sectors across the world to maximise the value chain of our diamond business.
It is the Group's objective to maintain a sustainable increase in the volume of rough diamonds produced through further exploration of the existing two mines and acquisitions of additional quality diamond deposits. Since 2011, SSC Diamond have invested more than 100 million South African Rand into both Frank Smith and Loxton Dal Diamond Mines to complete diamond exploration programmes and infrastructural upgrade which is anticipated to increase profitability and diamond production for both mines.
OUR STRATEGY
It is SSC Diamond’s strategy to own, operate and grow its own portfolio of diamond-mining assets that SSC Diamond believes will deliver the best returns through natural economic cycles and over long term. This forms a near-term business strategy for both Frank Smith and Loxton Dal Diamond Mines, alongside any suitable opportunities to acquire further quality mines. Our strategy covers five key areas:
Survey and Exploration
The survey and exploration objective involves dedicated operations to discover new diamond resources which would further enhance the quality and mining life of the two diamond mines; Exploration Diamond Drillhole programmes have been completed recently for both diamond mines.
Mining and Processing
SSC Diamond is to increase its rough diamond production to one million carats by 2025, through increasing output of the two operating mines and acquisition of additional quality diamond mines. Our strategy is supported by a highly qualified mining team representing all areas including surface and underground mine operations, processing, quality, safety control and security.
Design Cutting and Polishing Alliances
While India owns the largest market share and employs approximately one million workers in diamond cutting and polishing, China has become the second diamond polishing centre employing approximately 100,000 workers and is still growing, according to the World Diamond Industry Statistics. China has also become the second largest market for polished diamond sales; this could be a synergy which could be exploited through setting up strategic mid-stream to upstream alliances that is expected to deliver business opportunities for SSC Diamond.
Branding and Networking
Brand-building for polished diamond would involve expertise from internationally-renowned designers together with sufficient investment on marketing and latest technology. It is SSC Diamond’s objective to become a member of the Kimberley Diamond Exchange in order to further expand our network and to achieve economies of scale in our diamond sales.
Wholesale trading and Retailing
SSC Diamond is to expand its alliance network of diamond cutting and polishing in Asia to optimise cost-effectiveness and craftsmanship. SSC Diamond will also continue to import rough diamonds from Southern Africa, Russia and Brazil, and sell them in their rough or polished forms to the domestic market of China and other countries in Asia which would lead to a sizable downstream profit, forming a major form of income for SSC Diamond.
OUR GROUP STRUCTURE
In 2011, SSC Joyspring Mining Pty Limited ("SSC Joyspring") became a 74%-owned subsidiary of SSC Mandarin Diamond Mining Limited, a BVI Business Company incorporated in the British Virgin Islands with Company Number 1499015, with the remaining 26% shareholders being qualified Broad-Based Black Economic Empowerment (B-BBEE) entities in terms of the Mining Charter of South Africa.
SSC Joyspring is a South African incorporated mineral exploration and development company focused extensively on diamond projects in South Africa and holds a new order mining right for the two diamond mines Frank Smith and Loxton Dal. SSC Joyspring is fully B-BBEE equity compliant with the requirements of the Mineral and Petroleum Resources Development Act of South Africa Act 28 of 2002.
Both Frank Smith and Loxton Dal Diamond Mines are 100%-owned by SSC Joyspring.
Rough Diamond Import Licence
Our group's affiliate entity, SSC Mandarin Financial Services Limited, has obtained status of importer for rough diamonds from the Government of Hong Kong Special Administrative Region.