International News
De Beers CEO Al Cook Engages with GJEPC Leaders During Strategic Visit to Mumbai Office
Al Cook, CEO of De Beers Group, visited the Gem & Jewellery Export Promotion Council (GJEPC) office in Mumbai, reinforcing the group’s commitment to deeper collaboration with the Indian diamond industry. He was accompanied by senior executives including Paul Rowley, Executive VP – Diamonds Trading; Shweta Harit, Global Senior VP; and Amit Pratihari, VP of De Beers Forevermark India.
The visit follows the successful joint launch of the Indian Natural Diamond Retailer Alliance (INDRA) earlier this year—a strategic initiative to boost India’s natural diamond retail ecosystem.
Mr. Cook and his team were welcomed by a distinguished delegation from GJEPC, including Shaunak Parikh, Vice Chairman; Russell Mehta, Advisor to the Chairman; Ajesh Mehta, Convener – Diamond Panel; Diamond Panel Members Anoop Mehta, Nilesh Kothari, Anil Virani, Manish Jiwani, Ashish Borda; and Sabyasachi Ray, Executive Director.
The meeting featured in-depth discussions on pressing industry topics such as traceability, G7 compliance, funding challenges, U.S. tariffs, and marketing strategies, aimed at strengthening India’s global competitiveness in the diamond sector.
The engagement signals a continued partnership between De Beers and GJEPC to drive growth, innovation, and transparency across the diamond value chain.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.
The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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