DiamondBuzz
GJEPC to participate in Ministerial Roundtable On Natural Diamond Promotion in Angola
The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the Indian gem and jewellery industry, will be participating in the Ministerial RoundTable on Natural Diamond Promotion, scheduled to take place on 18 June 2025 in Luanda, Angola.
Representing India at this prestigious global forum will be Shaunak Parikh, Vice Chairman, GJEPC, and Sabyasachi Ray, Executive Director, GJEPC. Their presence underscores India’s continued commitment to supporting a resilient, transparent, and sustainable natural diamond industry.
Organised by Angola’s Ministry of Mineral Resources, Petroleum and Gas (MIREMPET), the high-level summit is bringing together ministers and senior representatives from leading diamond-producing nations including Botswana, Namibia, South Africa, Sierra Leone, and the Democratic Republic of Congo, along with key stakeholders across the global diamond value chain.The meeting will be chaired by the Minister of Mineral Resources, Petroleum and Gas, His Excellency Diamantino Azevedo.
The RoundTable aims to address critical industry challenges and deliberate on the need for collaborative efforts to promote natural diamonds through generic marketing and shared narratives around their rarity, beauty, and socio-economic impact.
One of the key outcomes of the summit will be the signing of the Luanda Agreement, a joint declaration reaffirming the commitment of governments and industry leaders to enhance the global positioning of natural diamonds and ensure their long-term positive impact on producer nations and communities.
GJEPC’s participation at this RoundTable reflects India’s integral role in the natural diamond pipeline and its dedication to engaging in global conversations that shape the future of the industry.
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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