• Short Summary

    THE DIAMOND COMPANIES OF THE CENTRAL AFRICAN REPUBLIC HAVE SUSPENDED OPERATIONS FOLLOWING A BREAKDOWN IN TALKS WITH THE GOVERNMENT OVER TAXES.

  • Description

    1.
    GV EXT DIAMOND CENTRE
    0.10

    2.
    CV MR. OELBAUM SEATED
    0.13

    3.
    SV PROSPECTOR ENTERS OFFICE
    0.16

    4.
    CV DIAMONDS TILT ON TO DESK
    0.22

    5.
    CV MR. OELBAUM EXAMINING DIAMOND (3 SHOTS)
    0.45

    6.
    CV TECHNICIAN CUTTING DIAMOND
    0.51

    7.
    CV TECHNICIAN EXAMINING
    0.58

    8.
    CV DIAMONDS BEING SHAPED ON LATHE
    1.04

    9.
    CV TECHNICIANS EXAMINING STONES AND GRINDING FACETS (3 SHOTS)
    1.20



    Initials RJ/VS/AS/BJ RJ/VS/AS/MH



    Script is copyright Reuters Limited. All rights reserved

    Background: THE DIAMOND COMPANIES OF THE CENTRAL AFRICAN REPUBLIC HAVE SUSPENDED OPERATIONS FOLLOWING A BREAKDOWN IN TALKS WITH THE GOVERNMENT OVER TAXES. THE GOVERNMENT CLAIMED THE COMPANIES OWED TEN YEAR'S BACK. TAXES....THE COMPANIES REJECTED THIS AND DISCUSSIONS CAME TO AN END. SINCE THEN THE ONLY DIAMOND MINING AND CUTTING HAS BEEN DONE BY BACKYARD PROSPECTORS.

    THE AMATEUR PROSPECTORS CASHED IN ON THE HALT IN THE COMPANIES' PRODUCTION WITH THE RESULT THAT DIAMOND OUTPUT TO WORLD MARKETS HASN'T BEEN GREATLY AFFECTED. EXPERTS SAY THAT PRESENT EXPORTS TEND TO STABILIZE AT AN ANNUAL LEVEL OF ABOUT 620,000 CARATS.

    THE GOVERNMENT TOO HAS A HAND IN LOCAL DIAMOND PRODUCTION. UNDER THE GUIDANCE OF SEVEN GERMAN DIAMOND EXPERTS, A JOINT GOVERNMENT AND PRIVATE FIRM TURNS OUT ABOUT 4,000 CARATS OF DIAMONDS A YEAR. THIS FIGURE IS EXPECTED TO REACH 20,000 CARATS IN 1972. THE FIRM IS IN BANGUI.

    SYNOPSIS: DIAMOND COMPANIES IN THE CENTRAL AFRICAN REPUBLIC HAVE SUSPENDED OPERATIONS FOLLOWING A BREAKDOWN IN TALKS WITH THE GOVERNMENT OVER TAXES THE GOVERNMENT CLAIMED THE COMPANIES OWED TEN YEAR'S BACK TAXES...THE COMPANIES REJECTED THIS AND CLOSED DOWN OPERATIONS. SINCE THEM MOST OF THE PROSPECTING HAS BEEN DONE BY AMATEURS WHO NOW BELL DIRECT TO THE BUYER....IF THEY CAN GET THE RIGHT PRICE. EXPERTS SAY THE BACKYARD PROSPECTORS HAVE CASHED IN ONE THE SITUATION TO SUCH AN EXTEND THAT THE CENTRAL AFRICAN REPUBLIC'S DIAMOND EXPORTS HAVEN'T BEEN GREATLY AFFECTED.

    THE GOVERNMENT TOO HAS A HAND IN LOCAL DIAMOND PRODUCTION. UNDER THE GUIDANCE OF SEVEN GERMAN DIAMOND CUTTING EXPERTS THEY SET UP BUSINESS WITH A PRIVATE FIRM IN BANGUI. EXPERTS SAY THAT THE COUNTRY'S DIAMOND EXPORT LEVEL TENDS TO STABILISE AT 620,000 A YEAR. THIS FIRM PRODUCES ABOUT 4,000 CARATS ANNUALLY, AND INDICATIONS ARE THAT BY 1972 IT WILL BE EXPORTING ABOUT 20,000 CARATS A YEAR.

  • Tags

  • Data

    Film ID:
    VLVA59UV9ZXSCP6GC8FYVDF3HA0EH
    Media URN:
    VLVA59UV9ZXSCP6GC8FYVDF3HA0EH
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    13/03/1970
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:20:00
    Time in/Out:
    /
    Canister:
    N/A

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