Cooperation Among Producing Countries Vital to Natural-Diamond Future – WFDB

The World Federation of Diamond Bourses (WFDB) formalized Botswana and Angola as nation affiliated members at a recent summit in Gaborone to discuss the future of the natural-diamond industry.

The formalization is a “historic and highly meaningful step” for the WFDB and for the wider diamond trade, the organization said last week.

“Botswana and Angola are among the world’s most important diamond-producing nations,” the federation stated. “Their decision to formally join the WFDB reflects a growing understanding that producer countries must play a more active and integrated role within the global diamond community. It also demonstrates the increasing desire for closer alignment across the entire value chain — from mine to market.”

The summit, which took place in coordination with Botswana’s Ministry of Minerals and Energy, drew participation from the entire diamond pipeline. Attendees included governments, producers, traders, manufacturers, retailers and international industry organizations, the WFDB said.

“What emerged clearly was a growing sense of alignment and shared responsibility across our industry,” explained the WFDB. “There is increasing recognition that the future strength of natural diamonds will depend on closer cooperation between producing countries and the downstream trade.”

Many participants agreed that unity within the industry is no longer optional, but essential, and that no single organization, country or sector can address the current challenges alone, the federation added.

Image: The meeting in Gaborone, Botswana. (Bharat Diamond Bourse)