De Beers appoints Molefi Letsiki as its first black-owned sightholder in SA
South African diamond miner, De Beers has announced that Molefi Letsiki will take over the role of a majority black-owned sightholder. Letsiki becomes the first black person to take this role and De Beers said his appointment will be effective from January 1 2023. The diamond mining giant said the announcement is part of its
De Beers appoints Molefi Letsiki as its first black-owned sightholder in SA
South African diamond miner, De Beers has announced that Molefi Letsiki will take over the role of a majority black-owned sightholder.
Letsiki becomes the first black person to take this role and De Beers said his appointment will be effective from January 1 2023.
The diamond mining giant said the announcement is part of its strategic objective of driving transformation in the local diamond sector.
Letsiki is an alumnus of De Beers’ Enterprise Development Project for Diamond Beneficiators, which was launched in 2016 to facilitate the growth of diamond beneficiation in South Africa.
Moses Masondo who is the Managing Director of De Beers Group’s managed operations said the company always envisioned having project members become sightholders, as it speaks to the hard work the company has been doing behind the scenes.
De Beers sells its rough diamonds through global sightholder sales and auctions, with the sightholders being among the world’s leading diamantaires.
Molefe Letsiki Diamonds is also a global distributor for the diamond company Dali Diamond.
“The progression of moving from a small diamond business to achieving sightholder status has long been an aspiration for MLD,” said Letseki, thanking De Beers for its support through the Enterprise Development Programme and overall business support.
De Beers says MLD’s elevation to sightholder status is not only a significant milestone for De Beers but for the overall South African diamond beneficiation sector.
Based on his background, Letsiki is a second-generation diamantaire whose father worked as a diamond master cutter for more than thirty years.
He established his diamond and custom-made jewellery business in 2005 and has grown to deal with diamonds globally and now employs 15 people.
