Mark Cutifani, chief executive of Anglo American, has mounted a strong defense of the diamond industry, saying the benefits of digging gems out of the ground should not be underestimated.
Speaking during Anglo Americanâ€™s sustainability briefing earlier this month Cutifani was asked if there was any social benefit to diamond mining. Mark Cutifani consequently pointed to Botswana, where its De Beers subsidiary has a joint venture with the government.
â€œBotswanaâ€™s GDP per person is one of the top three in Africa and itâ€™s off the back of diamond mining,â€ he told analysts and investors gathered at its headquarters in central London. â€œThere is no commodity in the world that means as much to a group of people in terms of lifting them out of poverty than diamonds in Botswana.â€
â€œIn terms of revenue and the benefits to the people of Botswana, it canâ€™t be understated. From the president to people living on the ground, they understand the importance of diamonds and the contribution to society,â€ he added....