Reports say South Africa, which is currently the world’s fifth leading  diamond producer by value is set to harness Russian technology to add  value to its vast mineral resource.

Business Day quoted the country’s Trade and Industry minister Rob Davies  as saying the move would help South Africa gain the full economies of  scale.
“Our policy is to encourage investment in higher levels of beneficiation of SA’s mineral products,” he was quoted as saying.

“[This process would] add value to our economy and make returns for those investments more equitable and more growth-enhancing.”
His comments come ahead of a two-day official visit by South African President Jacob Zuma to the Russian Federation.
Zuma, who is expected to address the SA-Russia Business Council, was  accompanied by a high-profile contingent of 70 business people.
Business Day quoted Business Unity SA chief executive Jerry Vilakazi as  saying that the business interaction between the two countries was  taking place in an “auspicious time” when the Russian government had  announced a wide-ranging plan to sell shares in a number of its  state-owned entities.

South Africa had been experiencing a trade deficit with Russia for some time.