News Nugget – April 2023
CPM refines precious metal waste for jewellers across Southern Africa – Floor Sweeps, Carpets & Sludge
As part of our comprehensive overview of all of the different kinds of refining that jewellers can make money back from, let’s delve into the categories of floor sweeps, carpets, and the (little-known) sludge. Read on for descriptions of these, as well as best practices in collecting, storing and submitting your refining to maximise your payout:
Jewellers please urgently note changes to the FIC Act
National Treasury has recently amended the Financial Intelligence Centre Act, with effect from 19 December 2022. The short of it is that suppliers of high-value goods (of R100,000 or above) who receive payment in any form, are now Accountable Institutions under the FICA legislation. This includes any type of business where a single item valued at R100 000 or more (whether new or second-hand) is sold to a customer.
Know the facts around diamond fluorescence
There are a number of misconceptions around diamond fluorescence, which we address below. Ultimately, any gem should be viewed in a variety of lighting environments in order to choose the right one for each individual’s taste. It is said that beauty is in the eye of the beholder, and diamonds are no exception.
News Nugget – March 2023
CPM refines precious metal waste for jewellers across Southern Africa – Polishings & Bench Sweeps
As part of our comprehensive overview of all of the different kinds of refining that jewellers can make money back from, let’s delve into the categories of polishings and bench sweeps. Read on for descriptions of these, as well as best practices in collecting, storing and submitting your refining to maximise your payout:
How to apply for a license with the Regulator
As some of you may be aware, a high court judgement in 2021 in favour of a local manufacturing jeweller set aside certain clauses of the Mining Charter. Unfortunately, now in March 2023, the DMRE has still to this date not published any notices outlining which clauses have been amended. As such, South African manufacturing jewellers remain obliged to comply with the below simplified list of license application requirements, which the Jewellery Council requested from the South African Diamonds and Precious Metals Regulator:
VAT obligations for SMMEs – news from SARS
SMME clients please note an update from the South African Revenue Service related to VAT, as well as general tax affairs. We’ve summarised the below points from their newsletter, the full version of which may be found here.
News Nugget – February 2023
CPM refines all Precious Metal waste for Jewellers across Southern Africa: Part 1 – Solids and Clean Filings
As part of our comprehensive overview of all of the different kinds of refining that jewellers can recover from their waste metals, let’s delve into the categories of Solids and Clean Filings. Read on for descriptions of these, as well as best practices in collecting, storing and submitting your refining to maximise your returns: