During the Natural Diamond Summit in Gaborone, Botswana, De Beers Chief Executive Al Cook expressed optimism about the future of natural diamonds, citing the industry’s robust foundations.
Cook outlined these foundations at the summit, emphasizing the favorable long-term supply and demand dynamics supported by the expanding middle classes in China and India. He also highlighted Botswana’s commitment to building a knowledge-driven economy that fosters productivity and innovation in the diamond sector, and emphasized the “groundbreaking collaboration between Botswana and De Beers which […] ensures the industry’s sustained stability […].”
Cook noted the 25-year renewal of Debswana mining licenses until 2054 and a new 10-year Sales Agreement for rough diamond production through 2033 as significant milestones in this collaboration.
The Natural Diamond Summit, hosted by De Beers in collaboration with the Ministry of Minerals and Energy of Botswana, ran until November 15.
