Modern Mining March 2020

COMMODITY FOCUS – DIAMONDS

report also found that the greenhouse gas emissions produced by mining natural diamonds are actually three times less than those created by the process of growing diamonds in the laboratory. The process of creating lab-grown diamonds is energy intensive. They are made using either a High Pressure High Temperature (HPHT) or a Chemical Vapour Deposition (CVD) system, both of which require very high temperatures, which can be sev- eral thousand degrees Celsius, and high pressures. “In this modern era in which we live, consum- ers seek education about the products they want to buy. They are becoming more interested in how ethical suppliers go about their business in creating or mining their products. They also want to know, as corporate citizens, the company’s contribution to the areas in which they do business,” says Steenkamp, adding that the natural diamond mining market really plays well into that narrative. In southern Africa, for example, De Beers has played a leading developmental role in countries like South Africa, Namibia and Botswana, and the latter two economies are largely dependent on diamond mining. Steenkamp says the company has made long-term commitments to the local communities in which it operates through investments in educa- tion, skills development, enterprise devlopment and employment, among other initiatives. He adds that a successful mining operation is always the result of a strong mutually beneficial partnership with local communities. Based on that understanding, De Beers recently launched its Building Forever framework, an integrated approach to creating a sustainable and better future, “one that is fairer, safer, cleaner and health- ier, where safety, human rights and ethical integrity continue to be paramount, where communities thrive, and where the environment is protected”. “The framework is underpinned by four key pillars with bold and ambitious targets to reach by 2030. These are protecting the natural world; partnering for thriving communities; standing with women and girls; and leading ethical practices across industry,” concludes Steenkamp. 

independent research company, to examine and quantify the collective socio-economic and envi- ronmental impact of its members’ diamond mining activities. Aside from highlighting that the DPA members delivered a net US$16-billion annual benefit to soci- ety and the environment through their activities, the

Close up of rough diamonds being sorted with tweezers, GSS Botswana.

Key takeaways  Lab-grown diamonds have seen rapid growth in production and have been a subject of much debate in the jewellery industry. In 2018 and 2019, production increased by 15 – 20%  To protect the equity and integrity of the natural diamond, De Beers estab- lished Lightbox in 2018 to brand and sell synthetic diamonds separately. The idea was to differentiate clearly between natural diamonds and those grown in laboratories, so as to enable consumers to make clear and informed choices  At the time of Lightbox’s launch in June 2018, a 1 carat synthetic diamond cost about US$4 200 while an equivalent mined gem sold for US$6 000. Since September 2018, De Beers has been selling gem-quality man-made stones for just US$800 a carat  Following De Beers’ entry into the lab-grown diamond market, the pricing of other synthetic diamond jewellery products has fallen substantially at both wholesale and retail level. 

16  MODERN MINING  March 2020