Editorial: Namibia cannot afford to misread diamonds

Mines Minister Natangwe Ithete is right that the global diamond market is under pressure from synthetics—but wrong to conclude that this defines the industry’s future. Diamonds, like all commodities, are cyclical. History shows this: the post-war boom of the 1950s, the price collapse in the 1980s, the China growth driven surge of the early 2000s, and the recovery after the 2008 financial crisis. Each downturn was followed by a new upturn, as markets stabilised and demand adapted. To suggest the industry is “going down” misses this deeper truth. Even now, natural diamonds retain prestige in luxury markets, and long-term fundamentals remain anchored in scarcity and brand. That is why Debmarine Namibia has invested in billion-dollar diamond-recovery crawlers—because they know diamonds still underpin jobs, tax revenues, and foreign earnings. With Anglo American exiting De Beers and both Angola and Botswana positioning themselves for control, Namibia cannot afford a posture of hesitation. This is the moment for foresight, not doubt. The diamond cycle will turn again, and the question is whether Namibia will be a driver of that recovery—or a passive observer left behind. Maybe clear policy direction is needed here, not guess work