Antwerp Diamond Conference

Published on 01/06/11

The 2011 Antwerp Diamond opened on Monday with a primary focus of assessing developments across the diamond industry in effort to prepare for the future.
“Our mission in Antwerp today is not to avoid the future, and definitely not to be overwhelmed by it. We need to understand, embrace and ultimately be empowered by the future,” said Ari Epstein, chief executive of the Antwerp World Diamond centre (AWDC), which organized the event. “We will be looking closely at that oncoming train, so that we may jump safely aboard and ride it on its journey over the horizon.”

The morning session on Monday focused on industry financing and the impact of pending regulations across the banking sector. Pierre De Bosscher, chief executive of Antwerp Diamond Bank and Victor Van der Kwast, chief executive at ABN Amro’s International Diamond & Jewelry Group, both stressed that the diamond industry would be required to operate with greater transparency as banks are less flexible in than they used to be in their financing structures.

The afternoon session explored issues impacting the rough markets with Botwana’s Minister of Minerals, Energy and Water Resources, Ponatshego Kedikilwe stressing the nation is focused on adding value downstream to its mining activity.