Editor’s Note
This article details a strategic campaign by De Beers and the Namibian government to revitalize the market for natural diamonds in the US, countering the rise of lab-grown alternatives.
The De Beers Group, in conjunction with the Namibian government, is moving aggressively to reclaim the global spotlight for natural diamonds, launching a high-profile charm offensive aimed at the world’s largest jewellery market, the United States. As part of the offensive to recapture significant global market share lost to synthetic diamonds, the Group this week hosted a media delegation and digital influencers from the US.
Addressing the US media delegation, Information and Communications Technology Minister Emma Theofelus cast diamonds as part of a broader national story of stability and sustainability. The minister was speaking at an evening event hosted by Namdeb, the 50/50 joint venture between the Namibian government and De Beers.
Theofelus emphasised that Namibia’s diamonds are extracted “in the most sustainable ways,” aligning with a national governance framework that prioritises environmental protection and conservation. She further stressed that while synthetic diamonds “can have their own little corner,” natural stones must “take centre stage again” if producer countries are to survive the economic blow.
Debmarine Namibia chief executive officer, Willy Mertens, said the offensive aims to reshape consumer perception at a moment when synthetic diamonds are eroding natural diamond demand at an unprecedented speed. Debmarine Namibia is a wholly-owned subsidiary of Namdeb.
Artificial diamonds, once a novelty, currently make up nearly 20% of global diamond sales, up from just 1% in 2015. Sold for up to 80% less than natural diamonds, they appeal to cost-conscious consumers and continue to capture the majority of the US engagement ring market.
For Namibia, whose offshore alluvial diamonds are among the rarest and highest quality in the world, the surge of synthetics threatens an industry that supports thousands of jobs and underpins government revenue.
Mertens elaborated that the natural diamond industry’s comeback strategy hinges on storytelling, emotionally reconnecting consumers to the natural diamonds’ deep time origins.
Across southern Africa, diamond producing countries are feeling the sting of collapsing natural diamond prices, down about 30% since 2022. As a result, job cuts and revenue drops have spread through Botswana, Namibia, Angola, South Africa, and the Democratic Republic of Congo. Industry leaders warn that without intervention, natural diamonds’ prestige could be permanently damaged.
From “a marginal phenomenon” to an “unprecedented flood,” synthetics now threaten the natural diamond’s future value, World Federation of Diamond Bourses president Yoram Dvash said recently. Meanwhile, Hollywood and Bollywood celebrities have accelerated the shift, as influencers promote synthetics as ethical, affordable, and environmentally friendly.
The reality is more complicated. While mining critics cite deforestation, habitat loss, and water pollution, synthetic diamond production, too, is energy-intensive, often powered by fossil fuels.
In June this year, five major diamond-producing nations, Namibia, Botswana, Angola, South Africa and DRC, agreed to pool 1% of annual diamond revenues into a global marketing push promoting natural diamonds. The initiative, led by the Natural Diamond Council (NDC) and backed by De Beers and Rio Tinto, aims to restore natural diamonds’ appeal with campaigns such as “Real. Rare. Responsible.”
According to experts, the core differences are origin and rarity. Natural diamonds are formed billions of years deep within the Earth under extreme heat and pressure, then brought to the surface through volcanic eruptions. Lab-grown diamonds, though chemically identical, are created in sterile factories in a matter of weeks. Natural stones are expensive because they are rare, costly to extract, and labour-intensive to polish. Lab-grown diamonds avoid these constraints and therefore sell for far less. And because their origin is known and abundant, lab stones carry lower long-term market value.
But for Namdeb and De Beers, the issue is bigger than price or geology; it is about global livelihoods.
Namibia’s US outreach reflects a broader reckoning across southern Africa, namely that if natural diamonds lose their emotional and economic appeal, entire economies could feel the shockwaves.