Botswana & De Beers: A Historic Diamond Deal
Botswana and De Beers have finalized a landmark 10-year diamond sales agreement, strengthening a partnership that has shaped the global diamond industry for decades. Why is this deal significant? Botswana is the world’s leading diamond producer by value and relies on diamonds for 80% of its exports and 25% of its GDP. The new agreement secures a greater share of diamond sales for the country while reinforcing De Beers’ long-term presence in this key market. Key aspects of the agreement ✅ Increased share for Botswana – the government’s share of Debswana’s diamond sales will rise from 25% to 30% for the first five years, then 40% for […]
Ethical Consumerism and the Natural Diamond Industry
Ethical consumerism involves making choices that support companies and industries prioritizing positive societal and environmental impacts. As consumer demand for ethically sourced goods rises, diamond companies are responding by becoming more transparent and focusing on sustainability. Here are some key efforts made by natural diamond companies to enhance their ethical practices: 1. Conflict-free prevention The Kimberley Process Certification Scheme (KPCS) was established to prevent the trade of conflict diamonds. While it has faced criticism for its limitations—such as a lack of enforcement and transparency—many natural diamond companies have gone beyond its basic requirements. These companies self-regulate to ensure their diamonds come from conflict-free sources and work […]