GemFair is dedicated to promoting responsible practices in the artisanal and small-scale diamond mining sector. Established to formalize this often-overlooked industry, the initiative is making significant strides in fostering sustainable growth.
In the past five years, GemFair has expanded rapidly. It started with 14 mine sites and now operates in over 400 locations, providing jobs for more than 6,000 people in artisanal mining communities. The program saw a 77% increase in diamond purchases last year and a 68% rise so far in 2024, indicating strong momentum.
A key factor in GemFair’s success is its partnership with De Beers’ Tracr blockchain platform. This technology tracks diamonds from the mine to the market. More than 90% of the diamonds GemFair acquires are logged on Tracr, ensuring transparency and allowing consumers to trace the origins of their diamonds.
De Beers recognizes the significance of artisanal mining, which accounts for about 10% of the global diamond supply. The company emphasizes fair pricing, education, and responsible sourcing in this sector. Through GemFair, miners receive training and resources to adopt environmentally friendly practices while enhancing their economic opportunities.
Originally launched in Sierra Leone, GemFair has expanded to other regions with active artisanal mining. The program not only supports responsible sourcing but also works to reclaim abandoned mine sites, contributing to environmental restoration and creating new economic opportunities for local communities.
Al Cook, CEO of De Beers Group, stated, “De Beers has a unique role in shaping the future of artisanal mining by improving standards and transparency. I’m incredibly proud of GemFair’s progress and its potential to reshape consumer perceptions of artisanal diamonds while positively impacting livelihoods across Africa.”
Feriel Zerouki, Senior Vice President of Provenance, Ethics & Industry Relations at De Beers, shared her enthusiasm for GemFair’s journey: “When we founded GemFair, our goal was to formalize the artisanal mining sector and promote responsible sourcing. I’m excited for the future as we continue to connect consumers with ethically sourced diamonds, each carrying a story of transformation.”
As GemFair evolves, it stands as a beacon of hope for the artisanal diamond sector, paving the way for responsible mining, improved livelihoods, and environmental sustainability.
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