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Diamond Producers Association

THE WORLD’S biggest diamond producers, increasingly threatened by cheaper man-made stones being passed off as the real thing, held a private meeting last week to create their first-ever industry association.

Representatives from eight companies, led by industry giants Anglo American’s De Beers unit and Russia’s Alrosa, got together at fellow diamond producer Rio Tinto’s London headquarters last week to discuss setting up the group, according to people familiar with the talks who declined to be identified as the discussions are not public.

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