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World’s seven largest diamond producers set up association

May 28, 2015, 8:41 UTC+3 MOSCOW

Russia’s ALROSA corporation will also be part of that association

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© ITAR-TASS/Alexander Ryumin

MOSCOW, May 27. /TASS/. World’s seven largest diamond producing companies including Russia’s ALROSA corporation have come to agreement on setting up a Diamond Producers Association (DPA), ALROSA said in a press release.

Other members of the association are De Beers, Rio Tinto, Dominion Diamond Corporation, Lucara Diamond Corporation, Petra Diamond Ltd. and Gem Diamonds Ltd.

"At present, selection of candidates for the position of the Executive Director, who will supervise operations and submit reports to the board of directors, is underway," he said. "Along with the solution of human resource issues, the DPA will do analysis of the market in 2015 for drafting a three-year plan of activities after that."

The operations of this organization will be aimed at supporting and beefing up consumer demand for diamonds, as well as at creating a unified analytical databank on the diamond producing sector.

Also, the association will represent the interests of producers of diamonds and on out-of-the-industry organizations. In addition to this, it will disseminate information on the role and contribution of diamond companies to the development of the industry and society.

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