Seven of the world’s leading diamond mining companies announced on May 27 their commitment to form the Diamond Producers Association (DPA). The founding members—Alrosa, De Beers, Rio Tinto, Dominion Diamond Corp., Lucara Diamond Corp., Petra Diamonds Ltd. and Gem Diamonds Ltd.—will work together to support the development of the diamond sector.
The DPA is registered in London and is the first international representative organization to be formed by some of the leading diamond producers. The association’s remit will include:
- Maintaining and enhancing consumer demand for and confidence in diamonds, 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 and organizations;
- 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 DPA will have an initial minimum annual budget of $6 million, based on commitments of founding members. Budgets will be reviewed annually based on an activity plan submitted to the association’s board of directors for approval.
As of late May, a recruitment process was under way to appoint an executive director, who will report to the board and will be responsible for the association’s operational activity. Along with incorporation of the organization and the appointment of an executive director and a focused support team, the DPA’s 2015 activity plan includes commissioning of research as a base to building a targeted operating plan for the next three years.