Diamond Miners Formerly Commit to Producers Association
May 28, 15
(IDEX Online News) – Seven diamond mining companies have announced their commitment to form the Diamond Producers Association (DPA), an organization to support the development of the diamond sector. The seven founding members are ALROSA, De Beers, Rio Tinto, Dominion Diamond Corporation, Lucara Diamond Corporation, Petra Diamonds Ltd, and Gem Diamonds Ltd.
The DPA’s remit includes increasing consumer demand for 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; 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 organization will have an initial minimum annual budget of $6 million, based on commitments of founding members. This budget will enable it to start operating once an executive director has been recruited.
The executive director will be responsible for the operational activity of the DPA and will report to the board.
The organization’s initial plan includes the commissioning of research as a base to building a targeted activity plan for the next three years.