The State of the Industry: No Room For 'Island Thinking'

Finance and Trade
13/03/2015 12:40

In this week's editorial Rapaport's Avi Krawitz comments on the state of the industry. While the industry's major mining companies gathered at Rio Tinto's London HQ earlier this month, with representatives from De Beers, ALROSA, Dominion Diamond Corporation, Grib Diamonds, Petra Diamonds, Lucara Diamond Corporation and Gem Diamonds all in attendance, it is clear the diamond mining companies need to play their part to ensure profitability throughout the distribution chain. Therefore, the trade should be encouraged that a meeting of the top eight miners took place this month to discuss some of the industry’s most pressing challenges. The industry, and all the players in it, Krawitz concludes, urgently need to get away from 'island thinking' in order to restore consumer confidence and allow profitability to return.