African Producers Weigh Formation of Diamond CartelApril 29, 07
Representatives of five African diamond producing countries met Saturday in the Angolan capital of
Ministers and industry reps from
Contrary to earlier reports, Botswana, the diamond producing heavyweight of the continent, has declined to join the organization, saying it is unsure of its benefits. It did not participate in the meeting.
“We will establish the OPEC of diamonds," the DRC’s Deputy Mines Minister Victor Kasongo was quoted as saying previously.
"We will form united diamond policies, so that we have more power in the international arena."
The Namibian says Kasongo's views highlight speculations of frustration among African diamond producers who believe countries like
Experts proposed a $1.3 million budget for the fledgling ADPA, and said the money should come from fees paid by the organization’s 19 member states.
The organization was first established in 2006 in