Milestone Luanda Accord: 1% of Rough Revenue to Promote Natural Diamonds
June 19, 25
(IDEX Online) - African producing countries and key stakeholders in the industry yesterday (18 June) signed a milestone agreement, pledging financial backing for a global campaign to promote natural diamonds.
The governments of Angola, Botswana, Namibia, South Africa, Sierra Leone and the Democratic Republic of the Congo all said they'd contribute 1 per cent of the value of their rough sales annually.
They are joined by the Antwerp World Diamond Centre (AWDC), African Diamond Producers Association, India's Gem and Jewellery Export Promotion Council (GJEPC) and the Dubai Multi Commodities Centre (DMCC).
The agreement, signed in the Angolan capital Luanda, and known as the Luanda Accord, will channel funds to the New York-based non-profit the Natural Diamond Council (NDC).
The Luanda Accord is seen as a potential turning point for the sector, aiming to rebuild consumer trust and interest in natural diamonds over lab growns, by emphasizing their origin, authenticity, and community impact.
It will highlight the positive economic and social contributions of the natural diamond industry to producing nations and their communities.
Angola has committed to investing $8m - equivalent to 1 per cent its rough diamond sales for the second half of the year - and De Beers says it will match that figure.
AWDC chairman Isidore Morsel said: "With the Luanda Accord, we're making a firm choice for collaboration and for a shared story that reflects the true value of natural diamonds — not just their beauty, but the positive impact they have on millions of families around the world."
Al Cook, CEO of De Beers, said: "Today, for the first time in history, Africa's major diamond producing nations came together to support the marketing of ethical diamonds. 5 countries, 3 councils, 1 company.
"By signing the Luanda Accord here in Angola, we expressed our intention to fund marketing that tells the true stories of these diamonds - and creates new desire in a new generation.
Shaunak Parikh, vice-chairman, GJEPC, said: "The Luanda Accord marks a fundamental shift in the way our industry comes together to protect and promote the future of natural diamonds. As the world's largest diamond manufacturing centre, India is proud to stand shoulder to shoulder with African producer nations and global partners."
Botswana's minister of minerals and energy, Bogolo Kenewendo, said: "One carat, one community, and one life changed. We need to move from fragmented messages to united storytelling. Africa must lead a global strategy to market diamonds. We will be the real storytellers who connect diamonds with consumers."
This is the full text of the Luanda Accord:
The Luanda Accord
Luanda, 18 June 2025
We, the undersigned representatives of diamond-producing governments and industry stakeholders, convened in Luanda on 18 June 2025 with a shared commitment to support a bright future for the natural diamond industry and the communities whose lives and livelihoods depend upon it.
We acknowledge the profound importance of the natural diamond industry as a driver of economic opportunity, employment, and sustainable development across Africa and other producer regions. The sector plays a critical role in uplifting local communities, supporting national development goals, and contributing meaningfully to public revenues and infrastructure.
We recognise the challenges facing the natural diamond industry today, including macroeconomic factors and shifting consumer preferences. These challenges require industry-wide action that harnesses the capabilities of the full diamond value chain — from producer governments and miners to manufacturers, traders and retailers.
We affirm our common understanding that effective action is urgently required to build and sustain consumer demand for natural diamonds. We commit to working together to help ensure that a new generation of consumers is not only aware of the rarity and natural beauty of diamonds, but also of the positive impact they have made — and continue to make — in communities and producer nations across the globe.
As such, we the undersigned agree that marketing is a fundamental pillar of the natural diamond industry's future. We jointly resolve to exclusively promote natural diamonds through a global, generic marketing effort focused on key consumer regions. This effort must be informed by a shared vision, shaped by inclusive governance, and backed by sufficient and sustained resources.
We acknowledge the valuable work already undertaken, including by the Natural Diamond Council, through previous generic marketing activity and agree that further funding is essential to build upon this foundational work. A more robust strategy must be developed with urgency and executed swiftly by the Natural Diamond Council to support the peak sales season of 2025 and beyond.
To this end, the undersigned producer governments, producer companies and industry intend to contribute the equivalent to 1% of the annual revenues generated from rough diamond sales to this initiative. It is for individual governments to determine with industry the arrangements for implementation of this contribution.
All contributions will be directed to the Natural Diamond Council, which shall be tasked with overseeing and executing the global generic marketing strategy. The mechanics of effecting contributions will be determined in due course and will be subject to prior legal review. The governance of the Natural Diamond Council will be reviewed to ensure it reflects the contributions of its members. The contributions and the outcomes of the marketing initiatives will be assessed at least annually by the members of the Natural Diamond Council.
We also recognize that the success of this initiative relies not only on government contributions but also on the active participation of stakeholders across the diamond value chain. We therefore call upon miners, manufacturers, traders, retailers and other industry actors to engage in, and meaningfully contribute to, the success of this endeavor, which is essential to help secure a brilliant future for natural diamonds.
Together, through a shared vision, mutual support, and decisive action, we commit to preserving and enhancing the legacy and promise of natural diamonds for generations to come.
Signed on this 18th day of June, 2025.