In this conversation, Avi Krawitz and Didier Backaert, director at Bonas Group, discuss the evolving role of diamond dealers in the rough diamond market, the impact of tender houses, and the significance of financing in the industry. They explore how the landscape has changed over the years, the efficiency of the market, and the relevance of traditional dealers amidst new trading mechanisms. The discussion also touches on production levels and the future of the diamond industry.

Takeaways

• Diamond dealers remain relevant but their roles have changed.
• Tender houses are increasingly important in distribution.
• The diamond market has become more efficient over time.
• Financing has become a key role for modern dealers.
• Production levels in the diamond industry are declining.
• Dealers are reinventing themselves to stay relevant.
• The industry has learned to operate more healthily post-crisis.
• Contract sales and auction mechanisms are both valuable.
• Trading centers like Antwerp and Dubai play crucial roles.
• The future of diamond dealers is uncertain but worth monitoring.

Chapters

00:00 - Introduction to the Diamond Debate

01:30 - The Relevance of Diamond Dealers

05:10 - The Role of Tender Houses

10:17 - Financing in the Diamond Industry

11:54 - Changes in Trading Dynamics

14:35 - Trading Centers and Their Influence

19:02 - Contract Sales vs. Auction Mechanisms

24:31 - Production Levels and Market Efficiency

27:44 - The Evolving Role of Dealers

Gen-Z’s changing values are reshaping the diamond market. This debate examines whether - and why - natural diamonds are losing relevance among younger consumers, what’s pulling them toward alternatives, and if the industry can win them back.

Avi unpacks the issue with Matt Gabel of MJ Gabel, a fine-jewelry advisory firm.

Diamond Debates is supported by Sarine Technologies.

David Kelly is the CEO of the Natural Diamond Council (NDC), the organization responsible for driving consumer interest in natural diamonds.

Nearly four years since the rebranding of the NDC in 2020, the organization is embarking on a new campaign: ‘Real, Rare, Responsible,’ highlighting the values it argues are inherent in natural diamonds.

In his role, David has developed a unique perspective of how the industry operates in different markets and cultures, how to approach category marketing in today's brand-centric environment, and the interaction between lab-grown and natural diamonds.

Learn more about the NDC at www.naturaldiamonds.com and via the handle @onlynaturaldiamonds on Instagram and Tik Tok.

Thabo Manne is the manager for social compliance at the Cullinan mine in South Africa. Petra Diamonds, which owns the operations, has embarked on a strategy to put sustainability front and center of its decision making, governed by its four pillars - people, planet, partners, and production.

Tasked to engage with the communities affected by Cullinan, Thabo sits at the core of that strategy, offering insight to how corporates, and the broader diamond industry, has changed focus to drive upliftment.

Find out more about Petra's sustainability program here: https://www.petradiamonds.com/sustainability/

Lyndon de Meillon is a diamond entrepreneur and geologist with interests in alluvial mining projects along South Africa’s Middle Orange River as well as Pioneer Diamond Tender House. He also serves as vice chairperson of the South African Diamond Producers Organisation (SADPO).

Lyndon is deeply invested in the success of South Africa’s small-scale mining sector, which faces some unique challenges spanning the heavy regulatory environment, social issues in the country, the geological makeup of the Orange River and the global economy. He believes South Africa’s alluvial sector has 100 years of life left in it, and also that the country has at least one other major kimberlite mine waiting to be found. But much depends on how the industry and the country tackles those lingering challenges.

You can find Lyndon on:

LinkedIn: www.linkedin.com/in/lyndon-de-meillon-98187299/

Websites: www.pioneerdiamondtenderhouse.com and www.sadpo.co.za

The co-founders of OC Gems, a startup manufacturing company based in Kimberley, South Africa, tell the story of their journey into the diamond industry, and discuss entrepreneurship, beneficiation and the crucial role that social media is playing as they step into the next phase of their business's development.

You can find them on Instagram and Tik Tok as OC Gems, and via their website www.ocgems.co.za