Finestar Diamonds Opens New Manufacturing Facility in South Africa

Finestar Diamonds and Jewellery has strengthened its presence in Southern Africa with the launch of a new diamond manufacturing facility at the Jewellery Manufacturing Precinct within Johannesburg’s OR Tambo Special Economic Zone (SEZ).

The inauguration drew senior government officials and industry stakeholders, including representatives from the South African government, the Indian High Commission, De Beers, and the State Diamond Trader. The opening marks another step in Finestar’s regional expansion, following the establishment of operations in Botswana in 2020 and Namibia in 2022.

According to the company, the investment supports South Africa’s beneficiation goals by boosting local diamond processing, generating employment, and enhancing skills development. Since beginning operations in the country in 2022, Finestar has created 46 jobs—more than half held by women—and plans to grow its workforce to 90 employees. Training initiatives are also underway, with 22 staff members currently being trained across various diamond planning and polishing stages.

Government representatives emphasized the importance of beneficiation in promoting economic diversification, industrial growth, and inclusive development. The SEZ was praised for offering an enabling environment with benefits such as VAT exemptions and strong infrastructure that help reduce operational and financial barriers for manufacturers.

Finestar leaders highlighted that the new facility forms part of a strategic expansion plan that leverages the SEZ’s collaborative ecosystem to scale production and increase investment. They noted that the initiative goes beyond diamond polishing, aiming to unlock broader value within the jewellery supply chain and support community development.

The South African plant joins Finestar’s global network of manufacturing sites in India, Botswana, and Namibia. The company, a De Beers Sightholder and Rio Tinto Select Diamantaire, is recognized for its focus on traceability, sustainability, and community-driven programs.

Commenting on the development, Nilesh Chhabria, Chief Operating Officer at Finestar, said the decision to operate within the SEZ reflects a strategic commitment to world-class infrastructure, supportive policies, innovation, and long-term growth.

“Finestar looks forward to contributing to South Africa’s rich diamond heritage while seizing current opportunities—creating value, empowering people, and shaping a brighter future for all stakeholders in the diamond ecosystem,” he added.