De Beers' CEO Cleaver Stresses Partnerships and Consumer Demand

Opinion piece
11/07/2016 13:56

New De Beers Group CEO, Bruce Cleaver, has highlighted the importance of relationships with all the company’s partners, saying they are the “cornerstone of the business”, the company stated in a press release citing his blog for the company website. Mr Cleaver, who took up the role on 1 July, said: “De Beers holds a unique position with consumers, our rough diamond customers, governments, communities and retailers ... We must never lose sight of the fact that for the entire diamond pipeline to succeed, every individual part of the diamond pipeline needs to succeed.” In particular he highlighted the need to continue engaging consumers and stay on top of the drivers of demand so as to be able to stimulate consumer demand in established and emerging markets: “Consumer demand really is our only source of value ... taking continued demand for granted would, I believe, be a mistake. And assuming the factors that influenced demand yesterday will be the same as those that influence demand tomorrow is folly. We must embrace changing consumer trends and see them as an opportunity to grow”.

Cleaver also highlighted the role that diamonds play in socio-economic growth: “I have been privileged to see for myself the good that diamonds have done for communities and governments around the world where we operate. They make positive contributions to countries that have used their revenues wisely, to communities that surround operations and to the beneficiaries of the practical benefits of responsible mining and ethical sourcing. Diamonds do good, but I think they can – and should – do better.”