Newly appointed De Beers Group COO Kevin Smith says operational discipline, stronger partnerships and measured market recovery will be key focus areas in 2026, as the diamond major works to position itself for the next phase of industry growth.

Speaking on the sidelines of the Investing in African Mining Indaba, in Cape Town, Smith said stepping into the COO role comes at a pivotal time for both De Beers and the broader natural diamond market.

Smith noted that his immediate priority is to build on the group’s operational foundations across its global asset base, while ensuring that safety, reliability and cost competitiveness remain central.

He indicated that 2026 planning is centred on stabilising production performance, advancing key projects and ensuring that operations remain responsive to changing market conditions. He added that the group continues to emphasise technology, efficiency improvements and responsible mining practices across its mines and recovery operations.

On market conditions, Smith described the current natural diamond market as being in a period of adjustment following demand volatility and shifting global luxury spending patterns. However, he expressed cautious optimism about the outlook, anticipating a gradual recovery and positive long-term prospects for the sector.

According to Smith, fundamentals supporting natural diamonds — including constrained primary supply, product differentiation and long-term consumer appeal — remain intact. He expects gradual improvement in trading conditions through 2026 as inventory levels normalise and consumer demand strengthens in key markets.

He stressed that De Beers continues to invest in category marketing and traceability initiatives to reinforce the value proposition of natural diamonds, particularly as consumers increasingly seek product origin transparency and social impact assurance.

Providing an update on De Beers’ exploration activities in Angola, Smith confirmed that work programmes are progressing following the earlier announcement of a kimberlite intersection from an initial drill hole. He said follow-up technical work and evaluation are under way to better understand the scale and potential of the discovery.

Angola remains a strategically important exploration destination for the group, he said, noting that the country’s geological prospectivity and improving investment environment support continued exploration interest. Ongoing collaboration with Angolan authorities and partners is helping to streamline exploration activities and data development.

Smith cautioned that exploration is inherently long term and results-driven, but said early indicators justify continued technical assessment and targeted drilling.

Addressing this year’s Mining Indaba Africa theme — Progress through Partnerships — Smith said partnerships are embedded in De Beers’ operating model, from host governments and joint venture partners to downstream industry participants and technology providers.

He pointed to the group’s long-standing government partnerships in producer countries as central to ensuring regulatory certainty, shared value creation and infrastructure development. Collaboration with industry bodies and value-chain participants is also helping to strengthen standards around provenance, responsible sourcing and beneficiation.

Smith added that partnerships with technology firms are becoming increasingly important, particularly in areas such as detection, sorting, traceability and environmental performance measurement.

He emphasised that sustaining the diamond industry’s future will depend not only on resource quality, but also on trusted relationships across the value chain and with communities located near mining operations.

Reflecting on Mining Indaba Africa itself, Smith said the event continues to provide high-value engagement with governments, investors and peers from across the mining sector. He described this year’s discussions as particularly focused on investment frameworks, partnership models and practical project execution.

For the remainder of the week, Smith said he is looking forward to further engagements with African government representatives and industry stakeholders, with a focus on exploration cooperation, regulatory clarity and long-term sector development.

He noted that, despite market headwinds, the diamond sector remains underpinned by strong long-term demand drivers — and that disciplined operations combined with strong partnerships will be critical to capturing the next upswing.

Watch a video in which De Beers Group COO Kevin Smith speaks to Mining Weekly at Investing in African Mining Indaba 2026.