24 Aug 2019
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Bruce Cleaver highlights need for combined effort in a volatile environment
Says collaboration, preparation and collective progress will be key to success in an unpredictable world
By: Diamond World News Service
Jan 18 2017 8:57AM
Reference: 13814  

Bruce Cleaver, De Beers Group CEO in an address to customers of De Beers’ Global Sightholder Sales business, highlighted the importance of all parts of the diamond sector working together, following the unpredictable events of a volatile year in 2016. He spoke at the reception hosted for the customers during the first Sight of 2017.

Commenting on the value of different parts of the diamond pipeline finding ways to work together more effectively, Mr Cleaver said: “We have made some good steps in this direction, with greater collaboration across the value chain to stimulate demand, to share industry insight and to support pipeline efficiency. But we must continue on this path and maximise the impact of our combined efforts to grow industry value.”

Mr Cleaver said, however, that it was vital for all parts of the value chain to benefit from industry progress, noting that: “None of us in the diamond industry can succeed sustainably in isolation. We must find ways to progress together, and we must continue to view challenges and opportunities from each other’s perspectives.”

Highlighting areas of opportunity for the sector, Mr Cleaver noted: “With the industry’s medium to long term fundamentals being so positive, clearly there is opportunity for investing in financially robust and transparent diamond businesses.” He also stated that: “The commercial environment in which we operate is changing rapidly and…if we can find ways to compete more effectively in this evolving environment, then the change becomes a great opportunity.”

Alongside making a commitment for De Beers to continue its investment in both proprietary and category-based consumer marketing activities, Mr Cleaver added that De Beers would launch a new and improved diamond verification instrument later in the year to help maintain trade and consumer confidence: “Our new Automated Melee Screening instrument, the AMS2…will be a significant leap forward in the technological response to product integrity challenges and we believe the AMS2 will play a major role in bolstering confidence across the value chain.”

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