Participants in the newly established International Diamond Board (IDB) have reportedly postponed its start-up stage as they await giant diamond miner Alrosa’s response to group plans and confirmation of the company’s participation. The start-up phase included the appointment of a chief executive to head the Board. However, the incorporation stage as an entity in the U.K. will not be held up.



The decision to postpone start-up was unanimous according to a letter to stakeholders, signed by representatives of giant diamond miners BHP, De Beers and Rio Tinto.



The three diamond mining companies stated that the success of the IDB depends upon the participation of Russian diamond mining giant Alrosa and all parts of the diamond value chain. Clarification is expected to be received from Alrosa by the end of October.



The IDB was established in July to promote generic marketing in the global diamond industry.