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Future of natural diamonds challenging; holds promise of transformation: BCG report

A new report by the Boston Consulting Group (BCG), commissioned by De Beers Group, unveils the critical factors that will shape the future of the natural diamond market

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A new report by the Boston Consulting Group (BCG), commissioned by De Beers Group, unveils the critical factors that will shape the future of the natural diamond market.In an era marked by rapid changes and emerging challenges, the natural diamond industry stands at a pivotal juncture. A recent report by the Boston Consulting Group (BCG), commissioned by De Beers Group, sheds light on the critical factors shaping the future of the natural diamond sector. With primary diamond supply projected to decline and demand dynamics evolving, the industry is poised for a significant transformation, it notes.

The cornerstone of the natural diamond industry’s future is the anticipated decline in primary supply. The report highlights that the primary production of natural diamonds is expected to decrease by approximately 1% CAGR over the next decade. This decline is driven by the diminishing yields from ageing mines, a scarcity of new discoveries, and constrained exploration budgets over the past ten years. While there is potential for some increase through brownfield expansions, the overall outlook suggests a tightening of supply.

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De Beers Group 2025 Sustainability Report : Highlights Progress Across Its “Building Forever” Sustainability Framework

The Report Details Key Performance Metrics and Strategic Achievements Spanning Climate Action, Biodiversity Conservation, Community Livelihoods, and Diamond Provenance.

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De Beers Group has published its 2025 Sustainability Report, outlining measurable progress across its “Building Forever” sustainability framework. The report details key performance metrics and strategic achievements spanning climate action, biodiversity conservation, community livelihoods, and diamond provenance.

Accelerating Environmental Stewardship and Climate Action

De Beers reported a 14% reduction in Scope 1 and Scope 2 carbon emissions since 2021, driven by ongoing operational efficiencies and renewable energy integration.

In biodiversity and nature conservation, the company continues to manage over 375,000 acres of land dedicated to wildlife protection across Southern Africa. Furthermore, through its Okavango Eternal partnership, De Beers supported the formal designation of Angola’s first Ramsar Wetland, expanding regional conservation impact across critical eco-systems.

Fostering Sustainable Livelihoods and Economic Development

Demonstrating its commitment to economic capacity building in host communities:

  • Job Creation Multiplier: De Beers supported 2.6 offsite jobs for every onsite position created within its operations in 2025.
  • Women’s Entrepreneurship: An additional 500 women completed training through the EntreprenHER program during the reporting period, bringing the total number of women entrepreneurs supported to over 3,900 since 2016.
  • Socio-Economic Investment: The Group committed US$70 million to the Diamonds for Development Fund in Botswana to drive long-term economic diversification and local growth.

Advancing Industry Provenance and Best Practices

To ensure end-to-end supply chain transparency, De Beers expanded its proprietary Tracr™ platform, which has now registered more than five million individual rough diamonds directly from origin. Simultaneously, the company marked the 20th anniversary of its Best Practice Principles (BPP) program, reinforcing rigorous ethical, social, and environmental standards across the diamond value chain.

Future Strategic Priorities

Looking ahead, De Beers will focus on scaling renewable energy infrastructure to achieve further reductions across Scope 1, 2, and 3 emissions, expanding land areas protected for nature, and accelerating the adoption of Tracr™ across the broader diamond pipeline.

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