The glitz and glamour of natural diamonds are back in the spotlight as De Beers Group unveils its dazzling five-year plan.
This ambitious strategy is set to not only revitalize the natural diamond market but also redefine the way these precious gems are perceived.
Titled “Origins”, De Beers’ master plan aims to pump up the volume on natural diamond marketing, streamline operations, and focus on high-yield investments from start to finish.
Renowned for its prowess in boosting demand for natural diamonds, De Beers is gearing up to capture the hearts of a new generation of consumers. Get ready for a diamond renaissance as they breathe fresh life into category marketing, adopting cutting-edge strategies to captivate audiences far and wide.
CEO Al Cook dishes out the details, promising a glittering future: “We will recreate the magic of natural diamonds for modern consumers. The outlook for natural diamonds is compelling. Global supply is declining with no new mines discovered in the past decade. Consumers in key regions are becoming more affluent and are increasingly differentiating between natural diamonds and lab-grown diamonds,” explained
But it’s not just about sparkle and shine; De Beers is serious about sustainable growth in an industry facing declining global production. By tightening their belt and focusing on key investments, they are set to save over $100 million annually while shedding non-diamond assets like yesterday’s news.
However, with a highly competitive portfolio of mining assets that are among the best on the cost curve and have substantial production capability and reserves, De Beers will focus its upstream investments on the major projects that will deliver the highest returns.
This includes among others, the ramp-up of Venetia underground mine in South Africa and progression of Jwaneng underground in Botswana, with future plans to deliver additional projects in Namibia and Canada operations should industry dynamics warrant.
“Every part of De Beers must add value in itself. But it is our integration from the upstream to the downstream, from the south of Africa to the north of Canada, across our portfolio of technologies that makes De Beers unique. And it is through that integration that we will create value as brilliant as our diamonds,” Al Cook said.
But the sparkle does not stop there. With global diamond production on the decline, De Beers is blazing a trail of exploration in Angola, the diamond hunter’s paradise.