The Luanda Accord Marks Landmark Commitment to Support Natural Diamond Industry

Business Standard

5 days ago

PRNewswire
Mumbai (Maharashtra) [India], June 23: Representatives from diamond-producing governments, industry stakeholders, and leaders from across the global natural diamond value chain signed the Luanda Accord, a landmark accord aimed at ensuring a bright future for the natural diamond industry through renewed investment in global generic marketing led by the Natural Diamond Council (NDC).
* Leading diamond producing countries announce their intention to allocate 1% of annual diamond revenue towards promotion of natural diamonds through the Natural Diamond Council
Recognizing the vital role that natural diamonds play in supporting livelihoods, generating national revenues, and driving development across Africa and other diamond producing regions, the Luanda Accord highlights the shared commitment of the signatories to work together to boost consumer interest in, understanding of, and demand for natural diamonds.
"Natural diamonds are more than just precious stones -- they are a lifeline for millions of people and a cornerstone of economic opportunity in many of our countries," said Diamantino Azevedo, Angola's Minister of Mineral Resources, Oil and Gas, speaking at the conclusion of the Ministerial Round Table meeting in Luanda.
To support this, the Luanda Accord has confirmed their intent to contribute to a global marketing effort driven by the NDC, building on the foundations of previous campaigns and expanding its scope and reach in key consumer regions.
Participating producer governments and De Beers Group intend to allocate 1% of the annual revenue they generate from rough diamond sales to fund this initiative. These funds will be entrusted to the NDC to execute a global category marketing approach.
"This is a decisive step forward," said Minister of Minerals and Energy of Botswana, Bogolo Joy Kenewendo. "By coming together, we are sending a compelling message: that the future of natural diamonds lies in ambition, transparency, and a commitment to telling our story to the world - and that we are all committed to investing and telling that story."
"Bringing together key leaders in the industry highlights the challenge facing the industry of insufficient investment in growing consumer demand. I am appreciative to all the Ministers who attended the meeting and their commitment to focus on consumer demand as the driver of future prosperity. I'd also like to thank De Beers for their unwavering support, and to the diamond centers of Antwerp, Dubai and Mumbai for their role in making the Accord happen," states David Kellie, CEO of Natural Diamond Council.
Richa Singh, Managing Director, Natural Diamond Council, India & Middle East, stated , "India is at the heart of the natural diamond story not just as one of the biggest markets, but as a place where craftsmanship and tradition come alive. The Luanda Accord is a powerful step forward because it means we are investing in telling the real story behind natural diamonds, their rarity, authenticity, and the positive impact they have on communities around the world. At the Natural Diamond Council, we are proud to champion this initiative and ensure that natural diamonds continue to captivate and inspire in India's dynamic and growing market."
With a focus on launching an enhanced category marketing campaign ahead of the 2025 peak sales season, the Luanda Accord represents a turning point for the industry -- and a renewed promise to the communities and countries whose futures are intertwined with the enduring brilliance of natural diamonds.
About the Natural Diamond Council:
Natural Diamond Council is a global not-for-profit organization which inspires and informs consumers about the incredible world of natural diamonds. NDC supports the integrity of the natural diamond industry by providing transparency and insight on the progress of this sector and its commitments to further betterment. NDC partners with industry stakeholders for the purpose of sharing best practices and driving trust and works to educate and protect the consumer.
The NDC operates in the US, China, India, UAE, and Europe. For more information, please visit - www.onlynaturaldiamonds.in
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