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2018 Diamond Conference

patriot by patriot
January 17, 2021
in Business
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2018 Diamond Conference
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The Diamond industry has the ability to build Strong Social Capital not only through making investments for sustainable development but through establishing strong markets, charting innovative distribution models and forging strategic partnerships for building competitive economies.

This was echoed by the industry experts during the De Beers Diamond Conference this week held under the theme ‘Leading Businesses for Social Capital’ in Gaborone. The conference focused on the challenges and opportunities of industry trends, investment strategies, partnerships, building brand value through retail and marketing programmes as well as approaches to creating a sustainable diamond industry that supports business, producer nations and local communities.

Synthetics versus Natural diamonds

With De Beers having tapped into the manufacturing of synthetic or artificial diamonds earlier this year, the burning issue at the conference was mainly about how the modern gemstones could impact on the natural ones in terms of value and sales.

Experts had noticed that the synthetic diamonds had been regarded as a threat to natural diamond mining. De Beers CEO Bruce Cleaver insisted that there is still future for the natural diamond mining and sale despite the presence the artificial diamonds in the industry.

He told the media that due to technology advancement the company decided to produce synthetic diamonds with the aim of offering wide range of choices to the consumers and buy what they want to. He reckoned: “Synthetic diamonds are not much or closer to the natural diamonds competitive wise and it’s not an expensive process and the synthetic diamonds process will decline soon. De Beers still invests a lot in natural diamonds with over P 11 billion invested on the mining and production”. He said the De Beers Group is not naturally focused on the synthetic diamonds which is not cost effective.

Strategic partnerships and Sustainable diamond industry

The conference pointed out the significance of forging the strategic relationships between diamond producers, governments and consumers to facilitate a healthy balanced diamond ecosystem for building competitive and sustainable economies.

Sierra Leone-based Minister of Mines and Mineral Resources Dr Morie Komba Manyeh said local communities should be the core priority for African diamond producing countries and urged the governments to form partnerships with diamond production entities, citing that the case between Botswana and De Beers should be followed by other African countries. The conference covered discussions on topics such as consumer insights and trends, building brand value: retail, the influence of diamonds and style.

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  • Killings of journalists up 50% in 2022, half targeted off duty    January 25, 2023
    Eighty-six journalists and media workers were killed around the world in 2022 – one every four days, according to UNESCO data, highlighting the grave risks and vulnerabilities that journalists continue to face in the course of their work.   […]
  • Judge Tau; please don’t stifle public scrutiny of the Court of AppealJanuary 25, 2023
    Her utterances are misplaced and must be condemned with the contempt it deserves ADAM PHETLHE The Patriot on Sunday dated 15 January 2022 carried an article titled ‘Judge Tau defends CoA Integrity’, with sub-headings “Complains of discrediting reckless statements; […]
  • Miss Botswana 2022 is the Face of KGK DiamondsJanuary 19, 2023
    Its been an exciting first week back to her MBW duties and we kick off the year with an official announcement that Our Queen is The face of KGK Diamonds. Lesego Chombo alongside Nigel Amos was the show stopper […]
  • Executives to watch in 2023January 19, 2023
    A year is often too short to demonstrate your worth, yet that’s exactly what the newly appointed Chief Executive Officers (CEOs) have to do to show that they deserve their enviable roles. PATRIOT BUSINESS looks at CEOs who shall […]
  • BLP TEST AP/BCP UNITY TALKSJanuary 19, 2023
    BAKANG TIRO editors@thepatriot.co.bw The new entrant in the cooperation talks between Alliance for Progressives (AP) and Botswana Congress Party (BCP) – Botswana Labour Party (BLP) has thrown spanner in the works by demanding that both AP and BCP yield […]
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