The group, called the Diamond Producers Association (DPA), will promote diamonds as a luxury item for high-end consumers and highlight the attraction of natural diamonds amid concerns that some consumers may soon begin favouring cheaper synthetic rocks.

The association, which counts with a $6 million yearly budget, claims to be “the first-ever international representative organization to be formed by some of the leading diamond producers,” DPA said in an e-mailed statement.

The freshly formed entity will step into a role once filled by De Beers, which at one point controlled over 80% of the world’s mined diamonds

​The freshly formed entity will step into a role once filled by De Beers, which at one point controlled over 80% of the world’s mined diamonds and pioneered the use of diamonds in engagement rings.

Eoin Treacy's view

The price of rough diamonds has little to no correlation with the price of polished/ cut stones. However, despite the fact that cut diamond prices have fluctuated considerably over the last year, rough stone prices have been very stable. This is cutting into the margins of intermediaries such as diamond dealers and jewellers. The Diamond Producers Association stated aim may be to counteract a nascent threat from lab grown diamonds but will probably also succeed in ensuring that miners continue to get an attractive price for their rough stones.



Among diamond miners Anglo American has returned to test the 1000p region and has steadied. A sustained move above 1200p would begin to confirm a return to demand dominance beyond the short term.

Canada’s Dominion Diamond broke out of a lengthy base in November and continues to hold a progression of higher reaction lows.

Lucara Diamond rallied to break an almost yearlong progression of lower rally highs early last month and has stabilised in the region of the 200-day MA.