From Creamer Media in Johannesburg, this is the Real Economy Report.

Sashnee Moodley:

Lifting and access solutions provider Concord Access Solutions, or CAS, has opened a new remanufacturing facility in Kempton Park, as part of its after-sales support and product offering across Southern Africa. Darren Parker tells us more.

Darren Parker:

The new CAS remanufacturing facility – dubbed the Reman facility – restores a range of mobile access machines and lifting equipment – including boom lifts, scissor lifts, cherry pickers, light towers, telehandlers, spider cranes and Terex cranes – to like-new condition.

CAS technical director Neil Kendrick…

Darren Parker:

Through precision disassembly, inspection, reconditioning and testing, including nondestructive testing, the new CAS facility enables the company to rebuild machines to meet and exceed original specifications, giving equipment a second life at about 60% of the cost of buying new machinery.

CAS technical director Neil Kendrick…

Darren Parker:

At the launch of Reman facility, CAS also announced the local launch of the Terex Franna range of pick-and-carry cranes.

CAS technical director Neil Kendrick…

Darren Parker:

CAS has also introduced a new parts distribution centre, or PDC, to support faster access to genuine parts, improved stock availability, and reduced downtime for customers across Southern Africa.

CAS technical director Neil Kendrick:

Darren Parker:

The new facility will also feature a training academy.

CAS technical director Neil Kendrick:

Sashnee Moodley:

Indian rough diamond cutting and polishing company Finestar last month unveiled a new facility in the Gauteng Industrial Development Zone near OR Tambo International Airport, which expands its operational footprint in the Southern African Development Community. Marleny Arnoldi attended the opening.

Marleny Arnoldi:

Finestar’s latest cutting and polishing facility complements other facilities in the United Arab Emirates, Belgium, Hong Kong, Japan, the US, Namibia, Botswana and India.

The R300-million facility employs 46 people of which 29 are South Africans that have been trained to cut and polish diamonds to world-class standards.

Finestar specialises in polishing diamonds ranging from 1 ct to more than 30 ct in weight, in all colours and clarity. The company sells diamonds to more than 80 000 customers globally.

Commenting on the facility’s opening, Mineral and Petroleum Resources Gwede Mantashe lauded the company for supporting local beneficiation capacity, which he believes is central to job creation and the sector’s growth.

Mineral and Petroleum Resources Minister Gwede Mantashe...

Marleny Arnoldi:

The investment is significant given the difficulties that the global diamond industry is facing, including heightened competition from lab-grown diamonds, financing constraints, declining exploration and fluctuations in production.

As a supplier of rough diamonds to Finestar and other diamond cutting and polishing companies, State Diamond Trader CEO Nosiphiwo Mzamo elaborates on the current operational context for these companies.

State Diamond Trader CEO Nosiphiwo Mzamo...

Marleny Arnoldi:

Finestar is committed to creating positive social impacts, including through training and upskilling of women and community development initiatives. This while the group also has initiatives in place to reduce energy and water consumption as well as carbon emissions.

The company uses blockchain traceability technology to provide assurance of its responsibly sourced rough diamond supply.

Finestar South Africa CEO Prince Mbetse is confident that the company can weather the current challenges and that the market will recover, particularly through strategic marketing and advertisement. He tells us more about market recovery and the company’s upskilling efforts for people to use high-tech machinery.

Finestar South Africa CEO Prince Mbetse...

Sashnee Moodley:

That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy. Don’t forget to listen to the audio version of our Engineering News daily email newsletter.