De Beers to collaborate with Indian manufacturers on low- carbon diamond supply chains

De Beers, the world’s leading diamond company, signs agreements for wind power projects in Namibia and is bringing renewable energy to South African mines within months. De Beers Group CEO Al Cook outlined plans to collaborate with Indian manufacturers on low-carbon diamond supply chains during his visit to Mumbai, building on the company’s renewable energy investments in mining operations across Africa, reports The Hindu Business Line.

“When you buy a natural diamond jewellery in India, you have confidence, not only was it mined using renewable energy, but it was also cut and polished using renewable energy,” Cook reportedly said, praising Indian sight-holders who are bringing solar power and renewable power to power their factories in Surat.

De Beers has signed agreements for wind power projects in Namibia and is bringing renewable energy to its South African mines within months. Cook indicated similar green collaborations with Indian trade partners are under consideration as the company pursues carbon neutrality by 2030. “We recognise that consumers across the world want to know that what they buy, particularly what they wear, is sustainable and it’s ethical,” Cook explained, noting that Indian manufacturers are already adopting renewable energy “even without our help.”

About LGDs, Cook opined, “We don’t think LGD is going. We think there’ll be huge production of LGD,” Cook said. “So, we see LGDs as here to stay. They’re going to be a mass market, low cost, very pretty product. Much like cubic zirconia in the past.” However, he emphasised the company’s focus on natural diamonds: “We end up being passionate about rare natural diamonds that have taken a billion years to form, not LGDs that have taken three weeks to make in a factory.”

De Beers forecasts India’s natural diamond market will double from under $10 billion to approximately $20 billion by 2030, driven by rising disposable incomes and changing consumption patterns among younger consumers seeking “more meaningful jewelry.”