New diamond industry group forming includes Canadian members


Several members of leading diamond-mining companies have come forward about considering the creating of an overarching industry group. The report first appeared in Bloomberg, in which the group was discussing the reaction to undisclosed synthetics. Bloomberg reports that the collective will have a $6 million annual budget.

According to De Beers spokeswoman Lynette Gould, the group will “seek to better understand, address, and protect the needs of diamond consumers. The activities of any future association are legally compliant and are therefore being supported by legal counsel.”

Other diamond companies like Dominion, Petra Diamonds, and Grib also disclosed statements similar to that of De Beers. CJ