Rapaport reports that an entity called the International Diamond Board (IDB) has been established to promote a generic marketing campaign for the diamond industry.



Rio Tinto Diamonds and BHP Billiton distributed a statement on behalf of the new entity: “The overarching mission of the International Diamond Board is to create and sustain strong consumer demand for diamonds worldwide through effective category marketing.”



The IDB will be incorporated as a company limited by guarantee in the UK. The new organization was established following discussions held by an industry working group initiated at the 2008 St Petersburg Forum. Representatives from the major diamond mining companies – De Beers, Alrosa, Rio Tinto, BHP Billiton and Harry Winston Diamond Corp – made up the organization’s steering committee.



The statement added: “Over the next 12 months, the International Diamond Board will focus on building the organization and initiating its first category public relations and communication program. Among the board’s immediate tasks, critical to its success, will be the securing of support from all parts of the diamond value chain.”