THE De Beers Group is working towards exploring new growth markets around the world in an effort to deal with uncertainty over market conditions originating from a poor economic outlook for this year.
The Chief Executive Officer of the De Beers Group, Gareth Penny, said this after a meeting with President Hifikepunye Pohamba at State House on Thursday. Penny led a five-member De Beers delegation to brief Pohamba on the company’s performance and future plans.Despite the impact of the poor performance in the US diamond market, Penny expressed satisfaction with the performance by the Namibia Diamond Trading Company (DTC), which is the distribution arm of the De Beers family of companies.He said through DTC, the local sales are doing well and jobs are being created.Late last year, DTC started distributing rough diamonds.”Various elements that we are looking into are seeking new market growth, controlling cost and currently we have a new campaign going on and it is doing well,” he said in an interview with members of the media.De Beers Group expects strong demand from China, India and the Middle East in order to maintain pricing for larger and better quality diamonds.NampaPenny led a five-member De Beers delegation to brief Pohamba on the company’s performance and future plans.Despite the impact of the poor performance in the US diamond market, Penny expressed satisfaction with the performance by the Namibia Diamond Trading Company (DTC), which is the distribution arm of the De Beers family of companies.He said through DTC, the local sales are doing well and jobs are being created.Late last year, DTC started distributing rough diamonds.”Various elements that we are looking into are seeking new market growth, controlling cost and currently we have a new campaign going on and it is doing well,” he said in an interview with members of the media.De Beers Group expects strong demand from China, India and the Middle East in order to maintain pricing for larger and better quality diamonds.Nampa
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