The whole of 2011 is ahead and "alive with possibility," but the global economy and the diamond industry in particular are still facing uncertainty, DTC CEO Varda Shine told DTC shareholders at the annual sightholders reception in London last week.

Shine said that De Beers had benefitted in these unpredictable times by focusing on matters within its control and had made a number of organizational changes. As the DTC headed into the process of selecting sightholders, Shine added, it would be "informative" to see which diamond traders had best been able to differentiate their offerings and establish a "strong strategy for success."

Now is not the time for speculation, she urged the attendees. Sightholder selection decisions will be based on "strong business fundamentals" and the diamond companies' ability to add value to the diamonds they sell. "Financial recklessness will not win any prizes… our watchword has to remain 'responsibility.'"

In addition, Shine noted, she was excited by how well all the players in the diamond sector had set up to compete with other highly coveted luxury products. "Winning the hearts and minds of the iPod and iPad generation could see us grow the value of the diamond industry to levels never seen before," she declared.