De Beers’ GemFair, which is focused on developing a responsible sourcing model for the artisanal and small-scale diamond mining sector, has reached a key milestone of purchasing its 10,000th diamond since launching in 2018.
The group said the programme has grown from 14 participating mine sites in 2018 to more than 400.
The expansion in member numbers has also supported volume growth, with the number of diamonds purchased increasing by 77% last year and 68% so far this year.
“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,” said De Beers senior vice president of provenance, ethics and industry relations Feriel Zerouki.
“We have learnt a lot over the past six years and have continued to evolve GemFair to maximise its impact for as many miners as possible. However, the most rewarding aspect has been the trust that has been built with GemFair – the confidence miners have in the programme and their eagerness to work alongside our team as they see the benefit in participating.”
De Beers said GemFair recently purchased its largest ever diamond at 69.3 carats and more than 90% of diamonds by value are registered on the Tracr platform to enable traceability as they travel through the value chain.
While De Beers does not have artisanal diamond mining operations, the sector accounts for around 10% of global diamond supply by value and provides a vital – and often the only – source of livelihood for millions of people in some of the poorest parts of the world.
The programme was launched in the Kono region of Sierra Leone, where it continues to operate today, due to the enabling environment that has been created for artisanal and small-scale diamond mining as a result of positive reforms following the civil conflict that ended in the country more than two decades ago.
GemFair has also introduced a programme to reclaim mine sites once mining has ended to aid in improving safety and environmental management practices within the sector.
De Beers said GemFair has since 2020 reclaimed 12 formerly abandoned mine pits and, working with local communities, is transitioning them to productive agricultural use to create a new source of income and food security for those communities.
“De Beers can play a positive role in raising standards and transparency in the artisanal diamond sector,” said group chief executive Al Cook.
“This brings benefit to miners, their communities and the industry at large.”
Mathew Nyaungwa, Editor in Chief, Rough&Polished
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