Bruce Cleaver – chief executive of diamond mining company De Beers – has called for greater collaboration within the diamond industry.
Speaking at a reception for customers of its Global Sightholder Sales business on 17 January, Cleaver highlighted the importance of all parts of the diamond sector working together following what he called an “unpredictable and volatile” 2016.
Commenting on the value of different parts of the diamond pipeline finding ways to work together more effectively, Cleaver said the industry had made some “good steps” with greater collaboration across the value chain to stimulate demand, to share industry insight and to support pipeline efficiency.
He said it was important to continue on this path and maximise the impact of the sector’s combined efforts to continue to grow industry value.
Cleaver said it was “vital” for all parts of the value chain to benefit from industry progress, noting: “None of us in the diamond industry can succeed in isolation. We must find ways to progress together, and we must continue to view challenges and opportunities from each other’s perspectives.”
He highlighted areas of opportunity for the sector and said, with the industry’s “long-term fundamentals being so positive”, there is an opportunity for investing in financially robust and transparent diamond businesses.
“The commercial environment in which we operate is changing rapidly and, if we can find ways to compete more effectively in this evolving environment, then the change becomes a great opportunity”, he added.