De Beers to Begin Selling Artisanally Mined Diamonds

are application that incorporates GPS locations and QR-coded “bag and tag” equipment. De Beers created the software so it works both online and off, and the hardware has been designed for use in “tough rural conditions;” it can, for example, be charged using solar energy.

In addition, miners will be trained on diamond classification so they understand the value of what they are selling.

The pre-pilot phase of GemFair launched last month and involved setting up a local presence in Sierra Leone, and working with DDI and registered mining sites to ensure standards are being met, that miners are trained on how to use the technology and that they understand diamond classification.

Once everything is place, GemFair will begin buying rough diamonds from participating miners (miners, however, are not under any obligation to sell their stones) and selling those stones via De Beers’ auction sales platform.

The goal is for rough to be available at a De Beers auction later this year.

DDI Executive Director Gizenga said the organization believes GemFair has the potential to “significantly transform” the artisanal mining sector by providing a secure route to market via a leading diamond company.

Located in West Africa, Sierra Leone was embroiled in a brutal civil war from 1991 to 2002 that was funded in large part by the sale of conflict or “blood” diamonds; 1990s Sierra Leone, in fact, was the setting for the 2006 movie “Blood Diamond.”

Today, the DDI said the government of Sierra Leone has made “significant advancements” in formalizing artisanal mining.

There are a number of artisanal mining sites in the country participating in the DDI’s Maendeleo Diamond Standards program. Last year, one of the country’s artisanal mining sites produced a 709-carat stone dubbed the “Peace Diamond,” which was sold via a much-publicized auction to Graff Diamonds for $6.5 million. The profits reportedly are to be divvied up to help the people of Sierra Leone.

De Beers said if the GemFair program works, the technology developed for it will be integrated with the blockchain platform it’s developing, allowing the artisanal mining sector to become a part of blockchain.