Mine to Market Conference Kicks-Off in Mumbai

India’s Mine to Market International Diamond Conference kicked-off on Tuesday with speeches from President Festus Mogae of Botswana, South Africa’s Minister of Minerals & Energy Phumzile Mlambo-Ngcuka, and DTC Managing Director Gareth Penny.

Mogae spoke about his country’s almost total dependents on diamond exports. “When people talk about our fabulous diamond wealth, this is misleading. Our diamond revenues only work out to $2 – $3 per day for each citizen, which is only slightly above international poverty levels.”

Mlambo-Ngcuka said “It was unacceptable” that the number of South Africans working in the entire diamond pipeline was just 30,000 people, compared with 1.2 million in India. She also said that the Kimberley Process has boosted diamond sales in Sierra Leon, Angola and The Democratic Republic of Congo.

In his speech, Penny said that while the past five years had been about Supplier of Choice, the next five years will be about partnerships. “We are in partnership with Botswana and Namibia and have proposals for Angola, the Democratic Republic of Congo and India,” he told the audience.

IDEX Online will provide full coverage of the conference.