De Beers’ GemFair Reaches Milestone with 10,000th Diamond Purchase

De Beers announced that its GemFair program has successfully purchased its 10,000th diamond since its launch in 2018. GemFair, designed to promote responsible sourcing in the artisanal and small-scale diamond mining sector, has been instrumental in supporting the formalisation and growth of this industry.

Since its inception, GemFair has expanded its reach from 14 participating mine sites to over 400, providing employment to more than 6,000 individuals. The program has also witnessed a significant increase in diamond purchases, with a 77% rise last year and a 68% increase so far this year.

One of GemFair’s key achievements is the implementation of a traceability system using the Tracr platform. Over 90% of the diamonds purchased by GemFair are registered on this platform, ensuring transparency and accountability throughout the value chain.

De Beers, recognising the importance of the artisanal diamond sector, which accounts for approximately 10% of the global diamond supply, has been at the forefront of supporting its development. GemFair provides training, education, and fair pricing to artisanal miners, empowering them to adopt responsible practices and improve their livelihoods.

The program has expanded its operations beyond Sierra Leone, where it was initially launched, to include other regions with artisanal mining activities. GemFair has also introduced initiatives to reclaim abandoned mine sites, promoting environmental sustainability and creating new economic opportunities for local communities.

Al Cook, Chief Executive Officer of De Beers Group, said: “As the industry leader, I believe De Beers can play a positive role in raising standards and transparency in the artisanal diamond sector. I’m very proud of the programme. I believe it can play an important role in transforming consumer perceptions of artisanal diamonds and transforming livelihoods across Africa.”

Feriel Zerouki, Senior Vice President of Provenance, Ethics & Industry Relations at De Beers Group, said: “When we first established GemFair, we had a vision to create a model that could help formalise the artisanal small-scale mining sector while supporting transparency and responsible sourcing. I look forward to the next chapter in GemFair’s journey as we identify further opportunities to bring these beautiful diamonds with an equally beautiful story to consumers around the world.”

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