SourcingOct 21, 2024
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GemFair Buys 10,000th Diamond
Launched by De Beers in 2018, the program aims to develop a responsible sourcing model for the artisanal/small-scale diamond mining sector.
A GemFair diamond toolkit. The program provides resources and education to artisanal and small-scale diamond miners.
London—GemFair has purchased its 10,000th diamond, De Beers Group announced last week.
The program, launched by the diamond miner in 2018, is focused on developing a responsible sourcing model for the artisanal and small-scale diamond mining sector.
It does this through educating miners on diamond valuation, offering to purchase any diamond offered by a registered mine site for fair value, and providing a traceability solution.
At launch, the program had 14 participating mine sites, but has grown to more than 400, supporting more than 6,000 jobs, said De Beers.
The expansion in member numbers has also supported volume growth, it said, with the number of diamonds purchased increasing 77 percent last year and 68 percent so far this year.
Though De Beers does not have artisanal diamond mining operations, it said the sector accounts for around 10 percent of global diamond supply by value and is a source of livelihood for millions of people.
“As the industry leader, I believe De Beers can play a positive role in raising standards and transparency in the artisanal diamond sector. This brings benefit to miners, their communities, and the industry at large,” said De Beers Group CEO Al Cook.
Cook shared insights from a recent visit to Sierra Leone where he met with workers and community members participating in the program.
“It was wonderful to hear how GemFair is making a real difference to their lives. I’m very proud of the program. I believe it can play an important role in transforming consumer perceptions of artisanal diamonds and transforming livelihoods across Africa,” he said.
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The program, launched by the diamond miner in 2018, is focused on developing a responsible sourcing model for the artisanal and small-scale diamond mining sector.
It does this through educating miners on diamond valuation, offering to purchase any diamond offered by a registered mine site for fair value, and providing a traceability solution.
At launch, the program had 14 participating mine sites, but has grown to more than 400, supporting more than 6,000 jobs, said De Beers.
The expansion in member numbers has also supported volume growth, it said, with the number of diamonds purchased increasing 77 percent last year and 68 percent so far this year.
Though De Beers does not have artisanal diamond mining operations, it said the sector accounts for around 10 percent of global diamond supply by value and is a source of livelihood for millions of people.
“As the industry leader, I believe De Beers can play a positive role in raising standards and transparency in the artisanal diamond sector. This brings benefit to miners, their communities, and the industry at large,” said De Beers Group CEO Al Cook.
Cook shared insights from a recent visit to Sierra Leone where he met with workers and community members participating in the program.
“It was wonderful to hear how GemFair is making a real difference to their lives. I’m very proud of the program. I believe it can play an important role in transforming consumer perceptions of artisanal diamonds and transforming livelihoods across Africa,” he said.
Feriel Zerouki, senior vice president of provenance, ethics, and industry relations at De Beers Group, said “When we first established GemFair, we had a vision to create a model that could help formalize the artisanal small-scale mining sector while supporting transparency and responsible sourcing.”
“We’ve learned a lot over the past six years and have continued to evolve GemFair to maximize its impact for as many miners as possible. However, the most rewarding aspect has been the trust that has been built with GemFair – the confidence miners have in the program and their eagerness to work alongside our team as they see the benefit in participating.”
To learn more about GemFair and its initatives, visit the GemFair website.
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