International News
DMCC Appoints Industry Veteran Neil Ventura as Special Adviser for Precious Stones
Former De Beers Executive to Drive Strategic Growth and Innovation at Dubai Diamond Exchange
The Dubai Multi Commodities Centre (DMCC) has appointed Neil Ventura, a seasoned diamond industry executive and former De Beers leader, as special adviser for its Precious Stones Ecosystem, the organization announced Sunday via X (formerly Twitter)
Ventura brings over three decades of global experience in the diamond and precious stones sector, including key leadership roles at De Beers and Anglo American. In his new position, he will provide strategic direction for the DMCC’s growing ecosystem, with a particular focus on the Dubai Diamond Exchange (DDE), which now hosts more than 1,300 member companies.
His responsibilities will span both natural and lab-grown diamonds, covering market development, ethical sourcing, compliance, and platform visibility. He will also help shape initiatives aimed at boosting international trade and attracting new participants to Dubai’s diamond hub.
Ventura is widely recognized for driving innovation across the diamond value chain. At De Beers, he spearheaded the development of De Beers Auction Sales, co-founded the Tracr blockchain platform, launched Lightbox Jewelry — the group’s lab-grown diamond brand — and created GemFair, a social initiative designed to empower artisanal miners.
Alongside his new advisory role at DMCC, Ventura continues to serve as an expert adviser to Boston Consulting Group (BCG) and is actively involved with Antler, a global early-stage venture capital firm.
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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