De Beers Group’s GemFair program has achieved a significant milestone by purchasing its 10,000th diamond since its inception in 2018.
The program focuses on responsible sourcing within the artisanal and small-scale diamond mining sector, supporting the formalization of the industry by improving standards, ensuring fair value, and providing secure routes to market for ethically sourced diamonds.
Since launching, GemFair has expanded from 14 participating mine sites to over 400, collectively supporting more than 6,000 jobs.
De Beers reported a 77% increase in diamond purchases last year, and a 68% rise so far this year. In addition, earlier this year, GemFair acquired its largest-ever diamond, weighing 69.3 carats.
De Beers notes that over 90% of the diamonds by value are registered on its Tracr platform to ensure traceability throughout the supply chain.
While the company itself does not operate artisanal mines, the artisanal sector accounts for around 10% of the global diamond supply by value and provides vital livelihoods in some of the world’s poorest regions.
GemFair, launched in Sierra Leone’s Kono region, has been pivotal in advancing the artisanal diamond sector through business training, mining and environmental standards, and education on diamond valuation.
The program guarantees fair value for diamonds from registered mine sites and offers a traceability solution for responsibly sourced diamonds.
To further support miners, GemFair introduced a forward finance initiative and has been inclusive of those in earlier stages of formalization.
Additionally, the program has focused on environmental safety by reclaiming 12 abandoned mine sites since 2020, transitioning them into agricultural projects to promote income and food security for local communities.
On a recent visit to Sierra Leone, De Beers CEO Al Cook praised the program’s positive impact, stating, “GemFair is making a real difference to people’s lives.
I’m proud of how it is transforming consumer perceptions of artisanal diamonds and improving livelihoods across Africa.”
