Tourism boosting platinum sales 29th July 2005

South Africa's burgeoning reputation as a tourist destination is having a massive impact on the region's platinum jewellery sales.

It has been revealed by Nine Dots, project manager for the North West beneficiation iniative, that over 70 per cent of the value of the jewellery market sold in the country is bought by tourists, and the number of visitors to South Africa has shot up in recent years.

Claire Minnitt, managing director of Nine Dots, told Creamer Media's Mining Weekly that independent jewellery stores in tourist areas in South Africa have seen annual increases in tourist trade of between 15 to 25 per cent over the past six years.

That compares with negligible increases in domestic trade, highlighting the major influence that the region's tourism industry is having on the platinum sector.

During the same period, the use of platinum in local jewellery manufacture has increased tenfold, and the Platinum Jewellery Trust of South Africa (PJTSA) has recently revealed a new development designed to capitalise on the increased demand for platinum.

Last week the trust launched the Djadji collection as part of its strategy to expand platinum beneficiation in South Africa's North West province, in the hope of developing an internationally-recognised brand to be used by the local platinum jewellery industry.
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