Interview with Feriel Zerouki, President of the World Diamond Council, Former Chief Trade and Industry Officer of De Beers Group

Feriel Zerouki

1. What were some of the most interesting issues you dealt with during your long career at De Beers?

There is hardly a chapter in the modern story of diamonds that De Beers has not touched, and I have been fortunate to be part of many of them. From ethical assurance and traceability to inclusion and community development, each chapter has shown me how business and integrity can work together.

The most interesting challenges were the ones that came without a blueprint. Building the world’s first diamond traceability platform that starts at source. Designing standards that became global benchmarks. Creating opportunities for artisanal miners in Sierra Leone through GemFair. None of these were easy. They demanded innovation, collaboration, and trust across cultures, industry, NGOs, and governments.

But what has stayed with me most is not the systems or the standards. It is the people. The miners, the traders, the communities, the colleagues. They are the heartbeat of this industry. Progress does not happen in boardrooms alone. It happens when people come together to build something bigger than themselves.

2. What do you see as the greatest challenges still facing the world diamond industry?

The greatest challenge facing the diamond industry today is trust. Maintaining it, rebuilding it, and earning it again with every generation. Consumers want to know not just what they are buying, but who and what their purchase supports.

We also face growing complexity, from sanctions and tariffs to questions of provenance and marketing claims. The diamond industry has always been global, but it is now deeply political and increasingly scrutinised.

For me, the opportunity within that challenge is clarity, being honest, consistent, and transparent about what natural diamonds represent: rarity, heritage, and humanity.

The final challenge is cohesion. The diamond supply chain is incredibly diverse, from artisanal miners to luxury retailers, and yet our credibility depends on acting as one.

3. What do you think will be the role of African diamond producers in the diamond world?

Africa is not just the origin of most of the world’s natural diamonds; it is the origin of their meaning. The continent’s producers have already shown what responsible resource management can achieve.

Botswana has proven that diamonds can build nations, not just economies, and that truth runs through Africa’s story. In South Africa, Namibia, and Angola, diamonds are not symbols of luxury but engines of progress, funding schools, hospitals, and jobs.

African producers are also increasingly shaping global policy. They are no longer just suppliers but partners in defining responsible sourcing. I believe we will see greater regional collaboration, more value added locally, and a stronger voice for producer nations in the international debate on trade, sanctions, and sustainability.

So, all in all, Africa’s story is changing from extraction to creation, from being the source of diamonds to being the source of leadership.

4. How would you convince a potential diamond buyer to buy a natural rather than a lab grown diamond?

I would stick with the facts. Laboratory grown diamonds are synthetic diamonds. They are created in factories, not in labs. Like moissanite or cubic zirconia, they are a different product, and that is fine.

A natural diamond carries something that cannot be replicated. It is nature’s mic drop. When you buy a natural diamond, you are also investing in communities, education, and livelihoods in places like Botswana and Namibia.

Then I would simply ask: why buy a lab grown diamond when you can get it for free? Companies like The Clear Cut now give one away when you buy a natural diamond. And at the Hong Kong trade show, they were giving them away for free as long as you paid for the setting. If you are buying it for someone you love, I am sure they would like their diamond to be worth more than a takeaway delivery.

Synthetic diamonds have their place, especially in technology, but a natural diamond has permanence, rarity, and emotional depth. It is a miracle of nature.

5. What do you think the diamond world will look like in five years, in ten years?

Over the next five to ten years, I believe we will see three interconnected shifts in the natural diamond industry: a tightening of primary supply, a deepening of differentiation between natural and laboratory grown diamonds, and a stronger emphasis on value beyond the 4Cs, meaning brand, provenance, ethics, and storytelling.

On the supply side, fewer new large mines, higher costs of extraction, and a more cautious industry mindset will create a structural backdrop of scarcity.

At the same time, demand is not static. New markets will emerge to drive natural diamond growth, while established and emerging markets alike will expand, supported by rising disposable incomes in places such as India and continued desirability among younger luxury buyers. But this growth will not come without competition from other discretionary categories, luxury goods, technology, and experiences.

What gives me the most hope is that the next chapter of this industry will be defined by more diverse leadership, including women, leaders from all continents, and people who bring both heart and perspective to the table. I hope my journey has shown that there is space for that kind of leadership, because what better way to connect to consumers than through authenticity, inclusion, and truth.

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