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Speaking at the Diamond Conference in Gaborone, Botswana, De Beers Group CEO, Bruce Cleaver, answered a range of questions that are vital to the fast-changing diamond industry.
Here is what he had to say: How has the diamond industry has managed to sustain its success over the years? Why has Botswana managed to generate so much diamond success when many other countries have struggled to maximise the benefits of their diamonds? What will be important in future if we are to maintain success?
The answer, as is so often the case with simple-looking questions, is in fact complex. Success requires a combination of many different things, all of which depend on the efforts of a great many people and organisations.
At this year’s event, we seek to explore some of these key ingredients for success in more detail, and to investigate what we need to consider for the future.
Seven mining companies partner with World Economic Forum
Today we will be examining this subject through the lens of what you might call the ‘4Cs of success for the diamond ecosystem:
Consumer
Community
Cluster Development
Collaboration
These 4Cs are important because it is only by understanding the consumer and the commercial landscape in which we operate that we can maintain healthy diamond demand; but if that demand does not translate to revenues that can be invested in diamond producing countries for the purpose of building communities and stimulating economic opportunity through industrial clusters, then there will be no sustainability of supply to meet that demand.
For the rest of this article: https://www.miningreview.com/diamonds-gems/what-new-diamond-industry-according-de-beers-group/