Diamond Producers, Organizations to Kick in Money to Promote Natural Diamonds

Luanda, Angola—Last week, industry leaders and representatives from the governments of diamond-producing countries signed an agreement to invest in the promotion of natural diamonds.

Signed in Angola’s capital city and called the “Luanda Accord,” the agreement states that participating producer governments and De Beers Group will allocate 1 percent of annual revenue generated from rough diamond sales to the Natural Diamond Council to market natural diamonds globally. 

It was signed by the following countries, trading centers, and organizations: Angola, Botswana, Namibia, South Africa, Sierra Leone, Democratic Republic of the Congo, Antwerp World Diamond Centre, African Diamond Producers Association, Gem and Jewellery Export Promotion Council, and the Dubai Multi Commodities Centre.

“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,” Angola’s Minister of Mineral Resources, Oil and Gas Diamantino Azevedo said at the conclusion of the Ministerial Roundtable meeting in Luanda, Angola.

The accord outlines the signatories’ shared commitment to boost interest in natural diamonds—particularly among younger consumers—as well as understanding of and demand for the stones through education and storytelling about the rarity, authenticity, and positive impact they have on communities and producer nations.

It includes a focus on funding for natural diamond category marketing, specifically on launching an “enhanced” category marketing campaign ahead of the 2025 holiday season.

The investments will build on the foundations of previous campaigns and expand the NDC’s scope and reach in key consumer regions, said NDC, which has seen its annual budget shrink since the exit of Alrosa in 2022.

“Bringing together key leaders in the industry highlights the challenge facing the industry of insufficient investment in growing consumer demand,” NDC CEO David Kellie said.

“I am greatly 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 its unwavering support, and to the diamond centers of Antwerp, Dubai, and Mumbai for their role in making the accord happen.” 

The Luanda Accord represents a turning point for the industry, said NDC, and a renewed promise to the communities and countries whose futures are “intertwined with the enduring brilliance of natural diamonds.”

The agreement also calls on miners, traders, retailers and other participants in the diamond value chain to support the initiative, noting the importance of a shared vision for the industry to secure a sustainable and prosperous future.

“This is a decisive step forward,” Botswana’s Minister of Minerals and Energy Bogolo Joy Kenewendo said.  

“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.” 

In addition to Angola signing the “Luanda Accord,” Endiama E.P. and Sodiam E.P., the country’s state-owned diamond companies, announced they will join NDC as contributing members, effective July 1, joining current members De Beers, Botswana’s Okavango Diamond Company, Petra Diamonds, Rio Tinto, and Murowa.

The move is a result of the agreement and its intent, NDC said.

Endiama and Sodiam will contribute $8 million to NDC immediately, with those funds dedicated to the second half of 2025, which NDC noted as the most critical season for the industry.

De Beers concurrently announced it will match their investment of $8 million for 2025.

Angola is the third-largest global producer of natural diamonds and one of the most promising in terms of future deposit discoveries, according to the announcement. The sector is vital to its socioeconomic development, supporting employment, infrastructure, education, and healthcare in producing regions. 

“With Angola’s diamond industry on the rise, promoting the values and socioeconomic contributions of natural diamonds is a national priority,” Azevedo said. 

“By joining the Natural Diamond Council, Endiama and Sodiam are formalizing our dedication to a global strategy that highlights the unmatched benefits of natural diamonds to new generations of consumers.” 

The NDC’s Kellie said the companies’ membership will “significantly enrich our collective voice in sharing the powerful story of natural diamonds rooted in positive impact, rarity, and authenticity.”