De Beers to Sell Diamonds from Artisanal Miners

De Beers Sierra Leone

De Beers announced plans to work with artisanal miners in Sierra Leone to ensure their diamonds are ethically sourced and sold at a fair price on its auction platform.

The company has partnered with the Diamond Development Initiative (DDI) on the project, known as GemFair, which is set to launch a pre-pilot phase this month. GemFair will provide tracking technology to artisanal and small-scale miners (ASM), aiming to create a secure and transparent route to market for their diamonds, De Beers said in a statement last week.

“The ASM sector represents a critical income source for many poverty-affected communities,” said De Beers CEO Bruce Cleaver. “However, due to parts of the sector being largely informal and unregulated, it lacks access to established international markets and the ability to derive fair value for participants.”

De Beers hopes the new project will help grow acceptance and prospects for artisanal miners, in addition to creating a new supply source for the company, Cleaver added.

Miners who want to participate in the program need to receive certification from the DDI as well as from GemFair. Participants will then be given a diamond “toolkit,” which includes technology enabling them to digitally track all stones throughout the supply chain.

Once the initiative is operational, GemFair will begin buying stones from participating miners, which will then be sold via De Beers’ Auction Sales channel.

De Beers has not set a date for the pilot’s completion, but hopes to make the first purchase later this year.


Another Massive Diamond Recovered

476 Carat Rough Diamond

Sierra Leone mining company has recovered a 476 carat rough diamond in the nation’s Kono at Meya.

The 476 Carat stone ranks as the fifth largest rough ever found in Sierra Leone.

Meya holds an exclusive diamond exploration license in the Kono district.

Meya also recovered rough diamonds weighing 27.93 carats and 19.70 carats at the same time.

The company’s announcement follows the discovery of the 709-carat Diamond in the Kono district in March.

The Rapaport Group will auction that diamond  believed to be the 14th-largest in history in New York on December 4.


Sierra Leone Minister of Mines and Mineral Resources Minkailu Mansaray with the 476-carat diamond.