Angola has taken a major step toward integrating into the global diamond trade by initiating the process to join the World Federation of Diamond Bourses (WFDB), the country’s Mineral Resources, Oil and Gas Minister Diamantino Azevedo announced during the WFDB’s 2025 President’s Meeting on June 12.
Mining Weekly reports that the move follows the establishment of Angola’s diamond exchange and signals the country’s ambition to play a greater role in the international diamond market.
Qatar also expressed interest in joining the WFDB during the New York gathering, which brought together industry leaders for two-and-a-half days of discussions, panels, and networking.
WFDB President Yoram Dvash set the tone for the meeting by stressing the need for strong leadership in preserving the natural diamond industry.
“Now is the time to lead with ethics, clarity and unity to protect the value and legacy of natural diamonds and to ensure that the industry’s voice is heard globally,” he said.
Meanwhile, Botswana President Duma Boko highlighted diamonds’ critical role in his country’s economy and reaffirmed Botswana’s dedication to ethical practices.
Botswana’s Minerals and Energy Minister, Bogolo Kenewendo, echoed his sentiments and stressed the industry’s broader impact.
She urged the sector to reinforce consumer demand by emphasizing diamonds’ aspirational and emotional value.
De Beers chief executive Al Cook underscored the importance of technological advancements, particularly in diamond traceability, to enhance consumer confidence.
He also pushed for regulatory changes, arguing that “natural diamonds should be exempt [from tariffs] in markets such as the US, where they are not mined”.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
