BREAKING: Luanda Accord Marks Landmark Commitment to Support Natural Diamond Industry
Leading diamond producing countries commit to allocating 1% of annual diamond revenue to support promotion of natural diamonds through the Natural Diamond Council
Representatives from diamond-producing governments, industry stakeholders, and leaders from across the global natural diamond value chain have today signed the Luanda Accord, a landmark accord aimed at ensuring a bright future for the natural diamond industry through renewed and sustained investment in global generic marketing led by the Natural Diamond Council (NDC).
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.
The Agreement acknowledges the significant contribution that natural diamonds continue to make to communities and nations, as well as the challenges facing the industry — from evolving global industry dynamics to the growing production of synthetics. It outlines a shared resolve to ensure that the next generation of consumers is well-informed about the rarity, authenticity, and positive impact of natural diamonds on communities and producer nations.
Central to the Luanda Accord is a recognition of the need for sustainable funding for natural diamond category marketing. The signatories acknowledge that supporting consumer demand through education and storytelling is essential to the future of the industry. To support this, they have 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.
The Agreement also calls on all participants in the diamond value chain — from miners and traders to retailers — to support the initiative, recognizing that only through a shared vision can the industry secure a sustainable and prosperous future.
“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 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 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.
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.
