The group called the Diamond Producers Association (DPA) will include Alrosa, De Beers, Rio Tinto, Dominion Diamond, Lucara Diamond, Petra Diamonds, and Gem Diamonds.
The DPA will have a corporate registration in London, England. It would work towards maintaining and enhancing consumer demand for and confidence in diamonds.
It will provide a reliable source of industry data, including trade and consumer research; act as the unified voice of the diamond producers with industry and nonindustry forums or organizations.
The role and contribution of diamond producers will be communicated to the diamond sector and broader society.
Alrosa said the DPA’s remit also includes sharing best practices in health and safety, licence to operate, supply chain integrity and environment management.
The founding members have agreed to contribute a budget of about $6m a year for the association, which will begin operating as soon as an executive director is appointed.
