Former Minister of Mines of Botswana Magangue David (David Magang) noted that synthetic diamonds are a serious threat to the economy of the African country, the dominant role which is engaged in mining diamonds.
Diamond mining in Botswana is about a third of GDP and provides 80% of exports and 40% of government revenues.
"There are indications that De Beers will soon go down to the flourishing of synthetic diamond market to consolidate its position on it. Obviously, synthetic stones are one of the greatest threats to economic Botswana welfare. Therefore, even if our diamond mines continue to operate for another 100 years, no one will buy natural diamonds as synthetic stones can occupy their niche in the jewelery segment "- leads edition of the words of Southern Times Magangue.
The former minister also noted that synthetic diamonds have become so similar to the natural, the only way to recognize them is the use of sophisticated technology.
According to him, the annual turnover of the market of synthetic diamonds is about $ 9 billion and continues to grow.
"One of the measures that can be taken to reduce the scale of the problem of low employment in Botswana, is the processing of mineral raw materials extraction of diamonds by itself does not ensure job growth, but all of the added value of stones is (in cut the sector).", - concluded Magangue.
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Brand Forevermark recently held its fifth annual forum of the diamond industry, whose theme was the motto "Together - is better" (Better Together). The Forum brought together some 500 members of the industry to discuss challenges facing the diamond trade, according to IDEX Online.
The seminars and workshops attended by manufacturers, diamantaires and industry leaders. At the meetings, they were trying to work out approaches to solving pressing problems, such as synthetic diamonds and commercialization of diamonds.
President of the American branch of Forevermark Charlz Stenli (Charles Stanley) and Forevermark CEO Stiven Luse (Stephen Lussier) spoke at the forum to maintain confidence in the diamond industry, highlighting the commitment Forevermark strict selection of suppliers and the integrity of the supply chain.
"Since its inception, has been a brand Forevermark, qualify for more Being such a brand, we aim to improve the competitive advantage for our partners around the world." - Loussier said.
"Together, we can solve the problems that face us today, to transform these challenges into opportunities, and bring our competitive advantage to one simple goal: greater profitability and sustainability of the diamond business for all of us", - he added.
Forevermark Carat Club, which awards the best specialists in the Forevermark sales annually, was launched in the framework of the forum. The company was awarded the first members of the club, who have sold more than 20 carats of diamonds Forevermark larger than 1 carat for 2015.
The company also announced a marketing company to create printed and promotional materials related to the responsible of the diamond trade. It will focus on initiatives Forevermark, aimed at the development of local communities diamond regions.
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