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Ongoing smuggling, money laundering benefits Zimbabwe political elite. Partnership Africa Canada (PAC) alerted the global diamond industry to ongoing smuggling in Zimbabwe, adding that money laundering and a lack of transparency directly benefits certain members of the country’s ruling party.
Press Release – Stressing that consensus may take some time to achieve, Gilllian Milovanovic, the chair of the Kimberley Process (KP), says a new definition needs to bring the industry sustained improvement not destabilization.
Those who fear that the suggested new definition of “Conflict diamonds” could place almost any country in any armed conflict situation on a list of countries banned from trading rough diamonds need not worry because decisions are made by the Kimberley Process (KP) Plenary forum
Press Release: The U.S. chair of the Kimberley Process (KP), Gillian Milovanovic, released a vision statement calling for participants’ cooperation on issues of reform.
Rubel & Ménasché, the well-known Paris-based diamond company, has become an important contributor to the Diamond Development Initiative International.
Press Release: Diamond dealers and retailers now have lower-cost options to confirm the nature of their diamond inventory.
Diamonds are a very complex product due to their high degree of quality and price differentiation. There are thousands of shape, size, color, clarity and cut combinations traded in markets with restricted price and availability information.
Global Witness called for urgent action to prevent a businessman in China from financing Zimbabwe’s President Robert Mugabe’s military regime. According to the group’s report published today, ”Financing a Parallel Government?,” Global Witness revealed that Zimbabwe’s Central Intelligence Organisation (CIO) received financing from a Hong Kong-based businessman at the same time that the CIO is […]
A customs report has alerted the government that conflict diamonds are finding their way into India for processing, and then exported to the U.S. and European markets. More than 48,000 carats of conflict diamonds were seized in Surat and Mumbai in the past year.
Even though Zimbabwe’s cabinet agreed last week to ensure that diamond revenue is remitted to the treasury, smuggling, looting and leaks in the pipeline will remain serious problems unless urgent measures are taken to curb them. When Zimbabwe held mass diamond sales in India in November 2011, bargain hunters from as far as Israel, Lebanon and China […]
Two major trends are currently engulfing the diamond market – branding and ethical consumerism. Savvy diamond firms across the pipeline would do well to enmesh the two. Ultimately, a company’s corporate social responsibility (CSR) strategy, which defines its ethical practice, should enhance and not diminish its brand.
Press Release: The Diamond Development Initiative (DDI) has released the draft standards for its Development Diamonds ethical certification project. The goal of the project is to help ensure that the more than 1.5 million artisanal and small-scale diamond miners become part of broader efforts to promote responsible business practices. The Development Diamond Standards (DDS) project […]