The world’s major diamond miners have gathered to form a global group focused on the development of the sector.
The newly named Diamond Producers Association (DPA) brings together ALROSA, Rio Tinto, De Beers, Lucara Diamond Corp, Petra Diamonds, Gem Diamonds, and Dominion Diamond Corp.
Housed in London, the DPA is focused on driving consumer demand in the sector, “including joint category marketing initiatives; providing a reliable source of industry information, including trade and consumer research; acting as the unified voice of the diamond producers, when required and/or appropriate, with industry and non-industry forums/organisations; communicating the role and contribution of diamond producers to the diamond sector and broader society; and sharing best practices in health and safety, license to operate, supply chain integrity and environment management”.
The association has an initial budget of US$6 million to begin operations.
“The companies believe that the DPA will play an important and positive role in the diamond sector and will actively engage with industry and non-industry organisations to promote the interests of the sector,” it said in a company statement.
It stated that it would operate in compliance with applicable competition and antitrust laws.
The DPA will focus on the commissioning of research to build a targeted activity plan for the coming three years.