A new International Diamond Board will be registered in Britain for the purpose of promoting the diamond industry. For many years De Beers diamond miner dedicated budgets for advertising generic diamonds. But with market share dropping to 40%, it has changed strategy and will reallocate its advertising budget towards marketing the new Forevermark, its microscopic inscription on diamonds. To fill the gap, the International Diamond Board was established to create and maintain customer demand for diamonds and provide public relations and communications services with customers, JCK Online reports.

According to a release by Rio Tinto, the International Diamond Board has been in the planning since the end of last year by a group from the 2008 St Petersburg forum. The board pledges support from everyone participating in the diamond industry in any capacity. The goal for the coming year is to building up the organization and as well as public relations and customer confidence. The first stage is to recruit a suitable Chief Executive Officer for the board to lead the way, reports JCK Online.