Angola, Botswana, South Africa, Namibia and the DRC, the main African diamond producing countries, and other players in the world diamond industry signed the Luanda Accord on Wednesday in the Angolan capital, an instrument aimed at promoting natural diamonds.

On the occasion, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said that it was “a historic milestone that represents a decisive joint step in the defence and promotion of natural diamonds, and reflects not only our common interests, but also the responsibilities we share”.

According to the minister, through this agreement, governments, producers and other industry players commit to contributing the equivalent of 1 per cent of annual revenues from rough diamond sales to fund a global marketing initiative under the leadership of the Natural Diamond Council.

Diamantino Azevedo made it known that it has been agreed between the signatories that this initiative will be guided by principles of inclusive governance, measurable results and a renewed spirit of transparency and partnership.

“This is not just a marketing strategy. It is also a strategic investment for the future of our industry.”

He said it was a moral investment, especially for the people whose lives depend on its sustainability.

He also considered it to be a collective affirmation that they believe in the value of natural diamonds, not just as commodities, but as agents of transformation.