Diamond Veteran: Time for African Producers to Unite

(IDEX Online) - Diamond industry veteran Martyn Charles Marriott calls for a return to the "stockpile and quota approach" as he reflects on a pivotal moment in the history of De Beers.

Sir Ernest and Harry Oppenheimer - the father and son who led the company for over half a century - maintained the stability and strength of the diamond industry through their Central Selling Organisation, the cartel clearinghouse that controlled the quantity and price of rough diamonds sold globally.

Marriott was a key member of Botswana's negotiating team with De Beers, helped develop Angola's diamond industry and played an active part in the establishment of the Kimberley Process.

In a blog post for the International Diamond Manufacturers Association (IDMA) he argues for cooperation between African diamond producers, and speaks of his support for Botswana to take on a greater shareholding in De Beers.

He also welcomes the involvement from both Angola and Namibia, as part of pan-African future for the company. 

And he says new and effective marketing strategy and policies, neglected by De Beers of late, will prove vital in the future.

"A key factor in the future would be a return to a higher level of generic advertising. Much has been done recently including the work of the Natural Diamond Council, but more is needed," he writes.

"In my 90th year, I see a glimmer of hope for something I have advocated during my work for various diamond producers over the last 45 years."