We make no pretence that we are not seeking to manage the diamond market, to control supply, to manage prices and to act collusively with our partners in the business. It seems the only commandment that we do believe in is to seek to honour the consumer. Despite all this, we believe that what we do is not only good for us and all producers of diamonds but is also in the interests of the consumer. Highlighting the importance of diamond mining in Africa, Oppenheimer concedes that while nobody can contest what De Beers has done for Africa as a producer, there could be argument about marketing. But the production and marketing of diamonds are inextricably linked in a virtuous circle.
Diamonds have a key role to play in stopping Africa continuing to dig itself into a hole.
Aid only increases the speed of the shovels. What is needed is trade and investment, allowing the digging to stop and the building to start. Diamonds are a unique product and De Beers has, over the years, demonstrated how best to utilise this product in a way which enhances value for producers and consumers alike. I feel it deserves the support of the US Government in its endeavours in Africa.