Modern Mining January 2025

improve transparency and sustainability. The growth of brands is another key component that will require urgent attention by the natural diamond industry. It is critical to continue driving overall diamond jewellery growth. The diamond industry must take full advantage of the rise in demand for branded jewellery by enhancing the diamond content of branded offerings. Participation under the South African banner at trade shows like the Hong Kong Gem and Jewellery show is one example of branding that will yield positive results. Consumers love a provenance story and the country, with its rich heritage and history, offers a unique proposition for its diamonds. Finally, African producers, including South Africa, will play a critical role in shaping the future of the global diamond industry. By investing in beneficiation, promoting ethical sourcing practices, and supporting the development of local diamond processing industries, African countries can capture more value from their diamond resources and create sustainable economic growth for their populations. Conclusion The diamond market in 2025 is characterised by a mix of challenges and opportunities. While global economic uncertainty and the rise of lab-grown diamonds pose significant risks, the industry has shown resilience and adaptability in the face of these pressures. For players like the State Diamond Trader, the focus will be on promoting beneficiation, ensuring ethical sourcing, and leveraging the unique qualities of natural diamonds to maintain competitiveness in an evolving market. As the industry continues to navigate these changes, those who can innovate and respond to shifting consumer preferences will be well-positioned to thrive in the years to come. There are a number of economies that are decade. There is also the recent Communique of a declaration within the BRICS context that has been adopted to stimulate trade and economic cooperation. This must be cultivated to ensure that these countries' common interests produce mutually beneficial results, particularly in the area of diamond trading. The diamond industry has always shown resilience in the face of adversity. It is strategic partnerships, formulated by sound policy development and strategic marketing interventions, that will be the biggest drivers of change in the future. It is also the joint collaborative interventions of governments and businesses alike that will help the natural diamond industry to rekindle its sparkle. There are many economic opportunities that exist through a harmonised relationship between the aforementioned stakeholders which must be interrogated for the common good and sustainability of the diamond industry. n showing positive offshoots in terms of potential demand for rough diamonds. Countries like Indonesia, United Arab Emirates Turkey, Saudi Arabia, and Brazil whose middle to upper class income and wealth will grow substantially in the next

Countries like Botswana, Angola, Namibia, and South Africa are major players, supplying a significant portion of the world’s rough diamonds.

for the diamond industry in 2025. As consumers become more conscious of the environmental and social impact of their purchases, diamond producers and retailers are under increasing pressure to demonstrate that their diamonds are sourced responsibly and sustainably. This has led to greater transparency in the supply chain, with companies adopting blockchain technology and other digital tools to trace the journey of a diamond from mine to market. The State Diamond Trader has been at the forefront of promoting ethical sourcing practices in South Africa’s diamond industry. As part of its mandate, the SDT ensures that all diamonds traded through its platform are conflict-free and comply with the Kimberley Process Certification

Scheme (KPCS). By promoting responsible practices and encouraging transparency

throughout the supply chain, the SDT is helping to build consumer confidence in the South African diamond industry. The future of the diamond market in 2025 and beyond As the diamond industry looks to the future, several key trends are likely to shape the

For players like the State Diamond Trader, the focus will be on promoting beneficiation, ensuring ethical sourcing, and leveraging the unique qualities of natural diamonds to maintain competitiveness in an evolving market.

market in 2025 and beyond. First, the mismatch between rough and polished diamond prices is expected to persist, with rough diamond prices remaining firm due to supply constraints, while

demand for polished diamonds fluctuates. This dynamic will continue to put pressure on manufacturers, who must balance rising costs with the need to remain competitive in an increasingly price-sensitive market. Second, the growth of lab-grown diamonds will continue to challenge the dominance of natural diamonds, particularly in the lower to mid-tier segments of the market. To maintain their market share, natural diamond producers will need to invest in marketing strategies that highlight the unique value of mined diamonds, while also embracing technological innovations that

JANUARY 2025 | www.modernminingmagazine.co.za  MODERN MINING  19