Diamonds have long been a symbol of beauty, luxury, and economic value. For South Africa, however, they represent something far more significant: an opportunity to reshape the country’s economic landscape, drive local skills development, and empower communities. Through beneficiation – the process of value addition to natural diamonds within the country – the industry is evolving from mere extraction to an engine of sustainable economic growth.

By Richard Steenkamp, Senior Sales and Office Manager, De Beers Sightholder Sales South Africa

For decades, South Africa has been known for its rich diamond deposits, but traditionally, much of the value generated from these gems has been realised outside our borders, where they are cut, polished, and transformed into high-end jewellery. That narrative is changing. Today, beneficiation is emerging as a powerful tool for economic transformation, ensuring that more of the diamond industry’s wealth is realized within the country, creating jobs, fostering innovation, and equipping local artisans with the skills to compete on the global stage.

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True beneficiation is not simply about polishing diamonds locally, it is about developing an entire value chain that supports sustainable economic growth. This includes nurturing young designers, equipping artisans with cutting-edge skills, supporting local entrepreneurs in establishing their own jewellery brands, and fostering a thriving ecosystem of diamond-related businesses.

The Shining Light Awards(De Beers Young Designers Initiative), for instance, illustrate the impact of beneficiation in action. Initially launched to showcase South African design talent, the program  as evolved into a platform that not only celebrates creativity but also provides real opportunities for young designers. Many winners have gone on to launch successful brands, merging traditional craftsmanship with modern innovation. These success stories are not just individual achievements, they reflect the potential of an entire industry to uplift communities and drive local economic activity.

However, to unlock the full potential of beneficiation, South Africa must develop a robust and sustainable ecosystem that supports every link in the value chain. This means investing in educational institutions to provide technical training, creating incubation programs to nurture entrepreneurship, and ensuring access to both raw materials, developmental funding and global markets. Without these essential elements, beneficiation risks remaining a fragmented effort with low impact rather than contributing to a transformative industry.

The success of beneficiation does not rest on the shoulders of one entity alone. It requires a collective effort between the private sector, government, and educational institutions. As a leading player in the diamond industry, De Beers Group has taken proactive steps to support local beneficiation through enterprise development initiatives, training programs, and market access opportunities for emerging businesses.

De Beers’ rough diamond sales to local manufacturers, ranging from large-scale operations to small, independent beneficiators, ensure that more diamonds remain in South Africa for local processing. These businesses, in turn, employ skilled artisans who add value to rough diamonds before they reach consumers. This model creates employment opportunities, strengthens local businesses, and ensures that South Africans benefit from the resources extracted from their own soil.

However, challenges remain. Access to funding for local manufacturers, the ability to develop competitive advantages in specific parts of the value chain, and the need for business development support for emerging entrepreneurs are all critical areas that require continued focus. Government policies must align with industry efforts to create a conducive environment for beneficiation, ensuring that local manufacturers have both the resources and incentives to succeed.

As the world shifts toward a more ESG-conscious economy, beneficiation takes on even greater importance. Consumers today are increasingly concerned about the ethical and social impact of the products they purchase. Beneficiation provides an opportunity for South Africa to position itself as a leader in sustainable diamond mining and production, one that prioritises local communities, fair employment,  to underscore responsible sourcing.

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When properly supported, beneficiation is not just about polishing diamonds, it is about unearthing/unleashing potential. It is about ensuring that the brilliance of South Africa’s diamonds is matched by the bright futures they create for the country’s artisans, entrepreneurs, and industry professionals. By working together – industry leaders, policymakers, and educators – South Africa can carve out a globally competitive, locally beneficial diamond sector that uplifts communities and drives economic growth.

With the right partnerships and vision, the journey of a diamond can begin, flourish, and thrive right here in South Africa, creating lasting impact, one polished gem at a time.